Warning: Financial Jargon Ahead!
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 29 September 2020
⏱️ 3 minutes
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| 0:00.0 | With the money full money extra, I'm Chris Hill. |
| 0:09.8 | Never underestimate the role that jargon plays in the financial industry. |
| 0:13.8 | I can't tell you how many times I've talked with lawyers or doctors, intelligent, credentialed |
| 0:19.1 | professionals, and they get paralyzed at the thought of investing in the stock market. |
| 0:24.5 | And it is due in no small part to the jargon that the financial industry throws at them. |
| 0:29.8 | This is a topic that Jason Zweig knows all too well. |
| 0:33.7 | As a longtime columnist for the Wall Street Journal, he has seen up close how it works. |
| 0:39.1 | Jargon in the financial industry has a particularly toxic aspect to it. |
| 0:47.0 | I mean, you mentioned doctors. |
| 0:48.5 | Think of it, for example. |
| 0:49.5 | You go to your doctor's office and your doctor tells you you have some alarming, sounding |
| 0:56.4 | medical condition. |
| 0:57.4 | I don't know, you know, parotonitis of the parotonium or something like that. |
| 1:02.9 | And you immediately freeze your palms start to sweat. |
| 1:06.9 | But the first thing you'll say to your doctor is, what is that? |
| 1:10.6 | What does that mean? |
| 1:12.3 | And your doctor will explain it to you in terms you understand. |
| 1:16.3 | And if you have a good doctor, she'll explain it to you until she can tell you understand |
| 1:21.9 | it. |
| 1:22.9 | So jargon in the financial industry works in a very different way. |
| 1:27.1 | There, the jargon is not meant to be precise. |
| 1:31.9 | The way jargon in science or medicine is it's meant to complicate what otherwise might |
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