Financial Doomsdayers aren't trying to make you rich. They're trying to get your attention.

Every year, someone predicts the next great market collapse.

They think that if they're right, they become famous. They sell books. They gain followers. They get interviews. They attract assets. Their career gets a boost.

If they're wrong?

Most people forget and move on to the next prediction.

That's what makes market doomcasting such an attractive (and dangerous for the client) business model.

The rewards for making a dramatic call can be enormous, while the consequences for being wrong are often surprisingly small.

The problem is that investors pay the price.

Doomsdayers often cause far more financial harm than whatever catastrophe (real or imagined) they are trying to 'protect' you against.

In this video, I break down why fear sells, why pessimism sounds intelligent, and show the financial harm they cause: