What’s a tweet worth? Some Wall Street Twitter stars want to know

In the crowded world of finance twitter, some market analysts are looking for a way to get paid for their tweets.

Bespoke Investment Group co-founders Paul Hickey and Justin Walters, with the help of Centric Digital, quietly launched a paid, private Twitter channel product called Premo Social on July 13. For about $10 or more a month, subscribers can get live market and economic analysis in their
Twitter feeds from Bespoke, Ritholtz Wealth Management CEO and CNBC contributor Josh Brown, T3Live’s Scott Redler or macroeconomics blogger Mark Dow.

“We wanted to come up with a way to distribute our content in the fastest way possible,” Hickey told CNBC. He noted that some of Bespoke’s time-sensitive reports often took too long to reach clients through email, so creating a subscription service on top of Twitter allows for real-time distribution to a large, existing user base.

Premo Social is completely independent from Twitter and the social media company didn’t respond to a request for comment on this article. Premo’s system automates the authorization process for adding new followers to a private Twitter feed, while collecting a fee along the way.

“If a social media platform’s goal is to keep eyeballs, this only enhances that goal,” Hickey said.

Bespoke, Josh Brown and the other initial Premo account holders already have tens of thousands or more followers on Twitter. But the selling point for subscribers is tweets that “avoid some of the more personal stuff” and provide “actionable, thought-provoking” analysis, Hickey said.



Wall Street is really psyched about Scaramucci—Here’s why

Anthony Scaramucci is well-known on Wall Street. And Washington. And Singapore. And Davos. And in virtually every other corner of the world where the carefully honed practice of high finance is practiced.

So seeing him at a senior-level post in the White House might not come as much of a surprise. To see him running the communications operation, though, has served as a bit of a shock to those on the Street familiar with the high-visibility path Scaramucci has trod on the road to his current post.

For most, it’s been a pleasant surprise.

While Scaramucci marks just the latest in a series of Wall Streeters to get prominent positions in Trump’s inner circle, this time it’s someone who can help the president formulate a clear message — something that’s been missing in the tweetstorming and verbal mud wrestling that has punctuated Trump’s communications so far.

“Trump’s made a lot of mistakes early on,” said Alfred Zaccagnino, who runs the Samarian Group, a New York-based private equity firm. “You want to learn from a guy who’s learned from his mistakes. Scaramucci has definitely learned from his mistakes and has proven his success by fighting adversity and coming out on top. I want to make a bet on that guy every time.”


Irresponsible personal finance article

CARRY huge wads of cash in your wallet, don’t worry about paying your bills, and buy a silver spoon to stir your coffee.

Author of Joy of Business
Author of Joy of Business

A bizarre book extract published on Mamamia in which a woman explains how she paid off $187,000 in debt in two years has been panned by readers as “appalling”, “irresponsible”, and “like if the anti-vaccine movement tried their hand at personal finance”.

Written by Simone Milasas, author of Getting Out of Debt Joyfully, the piece outlines the three “tools” she used to become debt-free — each of which fly in the face of common sense.

Ms Milasas is the “worldwide co-ordinator” for Access Consciousness, a self-help program “based on the idea that … consciousness can shift anything” which claims “miracles can occur on a daily basis” if you use any “one of [its] 7000 tools”.

According to Ms Milasas, her first “tool for having money” is the “10 per cent account”, where you put away 10 per cent of everything you earn. “You are not setting it aside to pay bills with,” she writes. “You are not saving it for a rainy day … You are putting it away as an honoring of you.”

But what if, she asks, people say, “I’ve got bills to pay! How can I put away 10 per cent of my income?” Well, she writes, “here’s the thing”. “If you pay your bills first, you will always have more bills.

“When you pay the bills first, the universe says, ‘Oh, okay. This person wishes to honor their bills. Let’s give them some more bills.’ If you honor yourself by setting aside 10 per cent first, the universe says, ‘Oh, they are willing to honor themselves. They are willing to have more,’ and it responds to that. It gives you more.”

To be absolutely clear, this is appalling advice. Do not follow this advice.

Back to the 10 per cent account. Ms Milasas describes it as “gifting to you”. “It’s about being grateful for yourself,” she writes. But you shouldn’t do it because someone suggested it — you “have to do it for you”.

“When I first did my 10 per cent account, I was doing it grudgingly because Gary had suggested to do it,” Ms Milasas writes, without specifying who “Gary” is.

“The 10 per cent account will not work if you do it from the point of view of, ‘This book or person said to do it.’ You have to do it for you. You have to do it to change the energy you have around finances and the energy you have around money.

“After around three or four months of starting my 10 per cent account, the energy of money changed for me. I no longer had this panic about money. How many of you have a panic about money, or a stress about money, and that has become more normal to you than not?

“If you look at the energy of this, it’s contrarian; it’s like throwing the depressing party that money doesn’t want to show up to. Money follows joy. Joy doesn’t follow money.”

Her second “tool” is to “carry around the amount of cash you think a rich person would carry”. “How different would you feel about your life if you saw a big wad of cash every time you opened your wallet or purse instead of a lot of blank space and some scrunched up receipts?” she asks. “What if you enjoyed having money in there?”

Ms Milasas says she likes to have at least $1000 — and a bottle of water — on her at all times. “Some people balk at the idea, thinking, ‘What if I get mugged, or lose my wallet or purse?’ I had a young friend who carried about $ 1800 on her at all times and lost her purse. It wasn’t very nice for her at the time, but after that, she was much more willing to be aware of her money!”

This, too, is awful advice. Do not follow this advice.

But for all the worrywarts, Ms Milasas says her question would be, “How much money would you need to carry on you so that you are willing to be aware of it at all times?”

That’s because when you “carry around a large enough amount, you will suddenly become willing to be way more aware of your money; you will become conscious of where it is and what you need to be aware of so that it doesn’t get stolen or lost”.

“If you avoid having money on you or in your life because you think you will lose it or it will be stolen from you, you will never allow yourself to have money at all,” she writes. “You have to be willing to have money and you have to be willing to enjoy it without a point of view.”

Finally, her third “tool” is to “buy things of intrinsic value” with your 10 per cent account — like gold, silver and platinum, which “can be bought in ounces, kilos or coins”.

“I have a safe in my house where I keep a lot of my gold and silver,” she writes. “If I ever get the feeling that I don’t have money, I will go and look in the safe and realize, ‘Oh, I do have money’.”

This, Ms Milasas explains, the “sort of thing the 10 per cent account can do for you”. Purchasing items of intrinsic value is a “way to enjoy having money, and to also have liquid items (liquid means easily sellable for cash) in your life that will maintain or increase their value over time”.

“Purchasing antiques or antique jewellery can be a good investment too,” she writes.

“Things like sterling silver flatware are great liquid assets because they are aesthetically beautiful items you can actually use which will contribute to creating a feeling of wealth and luxury in your life. Isn’t it much nicer to drink champagne out of beautiful crystal, or a sterling silver goblet rather than plain glass or plastic? I know it is for me!”

And if you’re strapped for cash — in debt to the tune of $187,000, for example — don’t worry. You “don’t have to have thousands and thousands of dollars in your 10 per cent account to start buying things of intrinsic value”. “You could start with buying a silver teaspoon to stir your coffee with, and add from there,” she writes.

“Just make sure, whatever you do or buy, that you follow what is joyful for you. Educate yourself about things of value that would be fun for you to have in your life.”


The article, which was posted to the Mamamia website over the weekend, went viral on Tuesday after being picked up on Twitter, where users reacted with bemusement.

“I have never seen such objectively terrible advice,” tweeted Erin Turner, head of campaigns and policy at consumer group Choice.

“Apparently the universe will sort it if you to set aside 10 per cent of your income rather than pay off your credit card accruing 18 per cent interest. The advice is actually: wish hard and wait for the universe to give you money. It’s The Secret for money.

“OH. And being ‘aware’ of your money means it won’t get stolen. The final recommendation is the greatest: buy fancy things so you feel wealthy. This is actually how you *get* into debt.”

Peter Johns wrote: “It’s like if the anti-vaccine movement tried their hand at personal finance.” Vivienne Egan described it as “f***ing irresponsible for @Mamamia to publish this bollocks”, while Clare Payne said it was “appalling”.

7 Personal Finance Tips To Master Your Finances

Financial Basics

1. Create a Financial Calendar

To help remember to pay your quarterly taxes or pull a credit report, you should think about setting up appointment reminders for these important financial matters the same way that you would your yearly doctor’s visit.

2. Find Out Your Interest Rates

Q: Which loan do you pay off first? A: The loan that has the highest interest rate.

Q: Which savings account should I open? A: The savings account that has the best interest rate.


3. Keep Track Of Your Net Worth

What is your net worth? Your net worth is the difference between the value of things you own and the value of what you owe.  These numbers can tell you where you stand financially.

4. Set a Budget

Your budget is the starting point of every financial goal in your life.

5. Consider Paying With Cash

If you overspend when using credit cards, consider only paying with cash only.

6. Read Books on Finance

Richest Man in Babylon, Rich Dad-Poor Dad

7. Put at Least 20% of Your Income Toward Financial Priorities

10% of your savings should be put away for savings

10% of your savings should be put into investment which can bring a moderate or high return.

Things About Prepaid Debit Cards

Today it’s almost impossible to get by without having some type of credit card. From being able to make a purchase online to filling up you car with gasoline to checking into a hotel room a credit card is helpful. So what are you supposed to when your credit is not good enough to get a regular credit card and you can’t get a secured credit card. A prepaid debit card could be exactly the thing you need. Now, what are the good and bad things of getting a prepaid debit card?

An advantage of using prepaid debit cards is that you can use them without going into debt. When you use prepaid debit cards you have to pay in advance so there’s no bill at the end. This way, prepaid debit cards are more like cash than like a traditional credit card where you get billed every month.

Another benefit of prepaid debit cards that appeals to many people with bad credit is that you do not have to worry about going into debt.

Another really huge benefit of a prepaid debit card is that you do not need to have good credit to get a card. Just pay the activation fee, deposit money and you’re ready to use your card.

Some bad points of having a prepaid debit card is you need to report if it’s lost or stolen right away since there are stricter guidelines pre prepaid debit cards as opposed to a unsecured credit card. There are  also monthly fees that you need to keep a look out for.

Also with pre paid debit cards you more than likely wont be able to rent luxury vehicles or sign up online for different types of websites. Many of the large car rental agencies require a a debit card which is linked to bank account, this is required so they protect themselves and charge your bank account if you owe them money and haven’t paid your bill in cash.