The Financial World is a Small Place

Bill Cara's Current Thinking: January 22, 2017 ... "It's a small world, getting smaller."

Dear Readers,

I'm writing to you today with a heart full of gratitude. In just the first 28 days since launching this Substack, 200 of you have subscribed from 23 different parts of our world—from Argentina to Austria, Canada to Croatia, Nigeria to the United States, Guam to Singapore. It’s a powerful reminder that the financial world truly is a small place.

Regardless of where you live and work, a common bond unites us: the pursuit of financial independence.

It’s amzing to see that Substack’s financial content now reaches readers in all 195 countries and territories recognized by the UN. While English-speaking countries like the United States (63% of traffic), the UK (7.4%), Canada (~5%), and Australia (~3-4%) currently lead in engagement, I'm thrilled to see a growing global community.

In my own case, 62% of you are from the US, and a significant 19% are from Canada. I believe my background as a Canadian and a Toronto resident, with a history of building financial services companies there, has helped create this wonderful connection.

My goal is to expand our community even further. I plan to reach out to the 35,000 people who have followed my work at billcara.com over the last 21 years and invite them to join us here. My hope is to have subscribers from 100 countries by the end of 2025.

Every single subscriber, whether free or paid, is a validation of my "why": to democratize financial markets through education. For years, billcara.com was always free of advertising and paywalls for this very reason. At my advanced age, it is a great hope that your support will help underwrite the costs of editors to carry on this work long after I am gone—a legacy for which I am deeply thankful.

Many of you know my history. I spent 55+ years in the financial world and was proud of its regulatory processes. However, I believe lawmakers have gone wrong in allowing the industry to co-mingle the buy-side and sell-side under one umbrella. This conflict of interest too often leads to financial accidents and disappointments.

There is a solution, but it requires a financially literate public to demand change. It requires representatives in the US Congress to enact a new Securities Act that separates the buy-side and sell-side, fairly balancing the interests of all. This may not be achieved in my lifetime, but it can be in yours.

When I say "yours," I am speaking directly to you—the affluent, English-speaking professionals (50.3% male, 49.7% female, primarily aged 25-44) who read financial content on Substack. If you truly seek to attain financial independence, you will understand the importance of this message.

Thank you for being here and for being part of this journey.

Warmly,

Bill Cara