Tell us about yourself and how many books you have written.
Stupid or Liar – The Truth about Sex, Bubbles, Investing and America is my first published book. I am not an author by ‘trade’, but I found myself compelled to write after seeing so many people taken advantage of by the financial advisory system. I reluctantly ‘became a writer’, but I am so happy I did. It feels so empowering to tell the truth and know I am helping people…
What is the name of your latest book and what inspired it?
Stupid or Liar – The Truth about Sex, Bubbles, Investing and America – was inspired by the corruption and ignorance that is so pervasive in the retail financial advisory business; hence the title, ‘Stupid or Liar’.
The title suggests what I have observed about financial advisors, they are either ‘stupid or liars’. This is to say, that many are simply not intelligent enough to know they cause more harm than good. Nor, is there a financial incentive to ‘ask too many questions’. The other ‘type’ of retail financial advisor, knows they are lying; they just don’t care.
I explore this dynamic where the worst type of people are attracted to, and then promoted within, the financial advisory business.
My goal in writing ‘Stupid or Liar’ is to educate the public about how things really work, and hopefully empower a shrinking middle class America.
Do you have any unusual writing habits?
I have a habit, but the more I speak to other writers, the more I realize I am not alone in my habit: I write early in the morning.
I wake up at 4 AM, make some coffee, and write in total solitude until around 11AM. I notice I lose my critical and creative thinking skills the longer the day goes on. I reserve the morning for important things like, reading and writing and thinking. The afternoon is for things that don’t require much brain power (responding to e-mail, phone calls, etc).
What authors, or books have influenced you?
Still, to this day, the most accurate and useful ‘investing book’ remains ‘ Reminiscence of a Stock Operator’ By Jesse Livermore, 1923. Anyone whom has actually traded for a living will attest to the timeless lessons shared in this book.
Regarding more recent authors, I believe Nassim Taleb’s book ‘Anti-Fragil’ is one of the most important books on risk taking – and life – written in the past 50 years. Nassim articulates what only someone who has ‘traded in trenches’ can understand.
What are you working on now?
I am Buddhist, and I am working on a sort of ‘Zen and the Art of Investing’ book. Many (most) Zen Buddhist tenets have a direct application to successful investment strategies. This book is very different from ‘Stupid or Liar’ in that the message is delivered in a far less ‘aggressive style’. I am excited to share this new book as I feel it has as much or more value than ‘Stupid or Liar’.
What is your best method or website when it comes to promoting your books?
I wish I knew the best method to promote books!
This is my first book launch. As of now (Dec. 18, 2013) ‘Stupid or Liar’ is the #1 free download on Amazon in Futures Investing. All I did to achieve this was do a KDP 2 day free promotion and promote the book as free on all the free ebook promotions sites I could.
Here is a great link to all the ebook promotion sites I used:
http://authormarketingclub.com/members/submit-your-book/
Do you have any advice for new authors?
I believe you have to write for yourself! Write what YOU would want to read and what YOU are proud of. Put your brain and heart into your work, release it to the world, then forget about it and start another book.
The act of sharing your art with world takes great courage – far more courage than most people have. Just writing a book is a massive accomplishment that very few people can complete. If you release your ideas to the world on Amazon you are a published author! That is something to be proud of.
What is the best advice you have ever heard?
The best advice I have heard is, ‘no one cares about you’.
This may initially sound negative and harsh (it did to me at 1st!) but there is amazingly powerful in it.
It simple means, people think about you, and your successes, and your ‘failures’, far less than you do! Who cares what they think! Your writing is for you! And, if you get criticism for your writing, just ask the person criticizing you ‘how many books they have written’…I suspect the answer is ZERO.
One concept I try to stress in ‘Stupid or Liar’ is positive asymmetry. Meaning, anything you can do where you have a small and fixed amount of downside risk and unknown and unlimited reward, is a RISK WORTH TAKING!
What do you have to lose in writing your book? NONE! You have nothing to lose and everything to gain! Go for it!
What are you reading now?
Sadly, I am not reading nearly as much as I desire at the moment – I am promoting ‘Stupid or Liar’.
I have noticed I can not think (read, write, be creative) AND ‘sell’ at the same time. Thinking and selling really require opposite sides of the brain; if you are good at thinking you are probably bad at selling (lying). If you are a ‘great salesman (saleswoman)’ you’re probably not that smart. This has been my experience across various disciplines from art to trading.
I started reading the writings of stoic Lucius Seneca 4BC – 65AD. Stoicism is similar to Buddhism, but with more of an ‘edge’. I can’t wait to be done ‘selling’ so I can get back to ‘thinking’ about Seneca’s ideas…
What’s next for you as a writer?
I am quietly pleased with the progress of my next book, ‘Zen & the Art of Investing’. I look forward to sharing this with people – I sincerely think it can help people become more empowered not only financially, but more importantly, personally.
If you were going to be stranded on a desert island and allowed to take 3 or 4 books with you what books would you bring?
Great question!
1.) ‘How to survice on a desert island’ – preferably a water proof copy
2.) Nietzche – Human, All Too Human
3.) Original Teachings of the Buddha
Author Websites and Profiles
Joel Nelson Website
Joel Nelson Amazon Profile
Joel Nelson’s Social Media Links
Goodreads Profile