Market Maven: What It Means, How It Works

What Is a Market Maven?

Market maven is a slang term used to describe an investor who is knowledgeable about the current state of the market and has access to privileged information. The term market maven refers to individuals with extensive market knowledge and connections, who have trusted opinions on market events and the potential success of investments. Historical success is often associated with being recognized as a market maven, but a flawless investment record is not required. Prominent market mavens include Warren Buffett, John Bogle, and George Soros.

Key Takeaways

• Market mavens are knowledgeable of the current state of the market.
• A market maven is generally associated with historical success in investing.
• Outside of the investing world, there are also market mavens.

How a Market Maven Works

Market mavens exist in various fields. Buffett, Bogle, and Soros are market mavens in the realms of investment, the global economy, and financial instruments. However, there are specialized market mavens in sectors such as oil and gas and biotech. These market mavens establish a track record of insightful investments or accurate market calls, becoming trusted sources for the financial media in their respective fields of expertise.

The Making of a Market Maven

Market mavens possess the ability to make investments and market calls confidently because of their thorough research and access to alternative sources of information. This doesn’t diminish the intelligence and dedication required to be a market maven. Anyone who establishes a consistent winning track record over years and decades has evidently invested considerable effort alongside their natural intelligence. Some market mavens, like Buffett, make calls and investments based on information available to the general public, but have a superior ability to discern important information through a combination of intelligence and experience.

Consumer Market Mavens

The term market maven is also used to describe consumers who possess detailed insights about consumer products, shopping destinations, and upcoming product information. As with the world of investing, there are consumer market mavens who specialize in niches such as nail products or wearable technology. These consumer market mavens follow a similar path to financial market mavens, becoming trusted sources of advice and featured representatives for the media within their product niche.

Consumer market mavens embody the characteristics of influencers and early adopters. They stay informed about and even shape trends, advocating for these trends to others. Generally, they fall within the age range of 25-44, earn an annual income exceeding $75,000, and own tablets or smartphones. Consumer market mavens often "second screen," utilizing multiple devices simultaneously. They rely on online reviews to make purchasing decisions and prioritize brand over price, unlike the average Millennial.

Consumer market mavens embody the characteristics of influencers and early adopters. They stay informed about and even shape trends, advocating for these trends to others. Generally, they fall within the age range of 25-44, earn an annual income exceeding $75,000, and own tablets or smartphones. Consumer market mavens often "second screen," utilizing multiple devices simultaneously. They rely on online reviews to make purchasing decisions and prioritize brand over price, unlike the average Millennial.