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Review: Navigating the Financial Blogosphere

To be entirely honest, when I was requested to take a look at Russell Bailyn’s Navigating the Financial Blogosphere: How to Benefit from Free Information on the Internet [3], I was a little surprised a book like this was going to be published… let alone by John Wiley & Sons, a reputable publisher. I accepted it because I really wanted to see if Blueprint for Financial Prosperity would be in it (it is!) and because I wanted to see what exactly Russell Bailyn would be saying about “my industry.” I didn’t know who Russell Bailyn was until I received the book’s information and he is a wealth manager with Premier Financial Advisors, a financial planning firm. He’s a big contributor at Seeking Alpha and Trading Markets, both of which have feeds that go right into Yahoo! Finance.

The main thrust of the book is that there is a tremendous amount of free information in the Internet in the form of forums, blogs, and other consumer generated media; and that information is made more valuable by virtue of all the contributors adding more to the discussion. That is, because people can post to a forum, because people can leave comments on a blog, that collective intellect is just as valuable as whatever an “expert” says. I wholeheartedly agree and listed that as one of the seven wonders of personal finance [4] last week.

The book really is a resource about the resource that is personal finance websites and blogs. It covers many personal finance topics from a relatively high level (such as describing what a financial adviser is and does), sprinkling in some blogs or sites worth mentioning. It was definitely a vanity play for me to see a lot of sites I read be listed (including Blueprint for Financial Prosperity) but I find it difficult to recommend this book to anyone who is reading this review because you already know about personal finance blogs. You’re probably pretty web savvy and you don’t need a book to tell you that blogs are valuable (they are!).

If, however, you do have a blog, maybe you want this book because then you can say your blog is in a book. 🙂