Action Alerts Plus will increase your investing success and transform your portfolio from mediocre to exciting. It often makes me 20% on every investment I make as long as I am patient. To learn more about it, click here. Tim is the author of elementary-finance.com, a financial blog providing beginning investment and finance advice to those who have a desire to learn the basics of investing and finance.
You’ve noticed it too. There is a flood of investing advice for you to read but much of it doesn’t seem all that useful in part, because half of it is simply saying that the other half is wrong. It’s the classic bulls versus the bears story. Where do you find good investing advice?
I wish I could tell you that I have the answer but I do have an opinion. I believe that the best investing advice is not advice at all. It’s investing fact. As you read the huge amount of articles, listen to the 24 hour financial news cycle, be discerning.
Have you noticed how you actually watch and read? Maybe you’re different than me but I’m in one of two modes when I’m soaking up information: Either education or entertainment.
I love boxing. When I watch boxing, I’m entertained. While I know some of the strategy involved, I’m not necessarily watching it to learn something. I’m watching for entertainment.
When I’m watching financial news or reading the latest investment advice, I’m in educational mode. This is different because I’m evaluating the information. If an article is simply somebody’s opinion, I don’t generally read too much because their opinion isn’t any better than my opinion based on my knowledge and research.
Instead, I look for factual information. When I read something that is based on fact, I read or listen to all of it. “Deere lays of 2000 employees due to lower than expected sales” is more beneficial to me than, “here is why I think Deere isn’t a good buy right now.”
Always do your financial work in educational mode. Question the writer or analyst. Compare their view to your own and if you’re going to change, you had better have a pretty compelling reason based on fact, not somebody’s opinion.
If you aren’t confident in your stock picking abilities and need some investing advice, consider subscribing to a service like Action Alerts Plus where an expert like best selling author and CNBC commentator Jim Cramer is doing your research for you and all you have to do is buy and sell when he tells you to execute the trade. My secret is that I don’t have enough time to do all of my research so I let Action Alert Plus do it for me. This research is fact based and while opinion is offered, it is always heavy on fact so you have the tools to make your picks.
Remember just because somebody is on TV or writing articles, that doesn’t mean that they are any better at giving investment advice than you are. Don’t be fooled.
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