Part 7/9:
The realms of finance and investing have been significantly impacted by social media, particularly among younger generations. Coffin acknowledges that many novice investors rely on platforms like TikTok and YouTube for financial guidance. He stresses the need for discernment when choosing whom to follow, urging consumers to question motivations, verify credentials, and cross-check the information they encounter.
“Do your own research,” Coffin advises, emphasizing that social media is best utilized for understanding concepts rather than as a source for stock picks. “It’s about teaching people the principles of investing,” he continues, reinforcing the importance of critical thinking.