When I was in Montreal, I could spend hours at the Chapter, a Starbuck coffee at hand reading magazine after magazine until the closing. Now that I moved in New Brunswick, if I want to read magazines, I can do it while standing on my 2 foot at Wal-Mart or Zellers or, I can go at my local library.
Duncan Hood, the Editor of MoneySense Magazine may taught that offering the MoneySense for 1 year at 30$ is a good deal, but personally, that deal doesn’t sound appealing to me. A 30$ for a one year of MoneySense magazine is an offered that I had received. You may receive it if you have an account at CanadianMagazine for their forum or newsletter or some other stuff.
Fact is, you don’t need to pay 30$ per year to get a taste of what frugal living is, or what is investment all about, to get stock information, credit card balance information, stock market hottest news...STOP. Here at the Dividend Girl blog you get that an even more for FREE.
30$, is not that bad. We have much worst with Gordon Pape. Want to subscribe to Gordon Pape Internet Wealth Builder? You can go ahead, but it will cost you $164.95. Oh sorry there, $164.95 + TAXES. Because taxes are not even included in that SUPER HUGE PRICE!!!!
Fact is, you don’t need to pay one single penny to be a successful investor. Why? Well, because you can read my blog for free. You can read online newspaper online for free. You can read Derek Foster books for free at your local library. All free stuff.
Financial services had came with that idea that the more you pay out of your pocket, the better the services are. Well, that idea is completely fall.
There’s plenty of financial blogs out there you can consult for free and if you’re smart enough, you won’t pay a penny to get stock ideas or ways to deal with your money. Like NEVER EVER. Those people like Duncan Hood and Gordon Pape are simply money s0ckers.
Sunny-You hit the nail on the head commenting on Moneysense Magazine,Gordon Pape, and Derek Foster. Their target audience is the beginner investor who wants to dabble in mutual funds, and maybe take some "risk" in owning one or two individual securities. These writers/publishers almost ALWAYS preach the same god damm thing over and over again- diversify, spend less then you make, 'invest for the long term', and 'stocks for the long run'. I'm sure you've heard it all before. Never in these publications have ANY OF THEIR AUTHORS preached to their audience about 'educating yourself'. NEVER HAVE THEY RECOMMENDED AN INVESTING BOOK to read. NEVER HAVE THEY RECOMMENDED GOING TO AN INVESTMENT WORKSHOP. And yes, I do agree with you that these publications are a total waste of $$$; just like how REVENUE QUEBEC is as useless to you. Sorry for shouting, but I am on a self proclaimed mission of sorts-to make anyone who wants to listen a better investor. These stupid magazines/publications like The Wealth Builder, and Derek Foster's Newsletter, and Moneysense Magazine don't take you to the next investment level-like what you are trying to do here in this blog. And yes, I do subscribe to some investment research that focus on 'the trees'(aka specific stocks) as well as 'the forest'(aka what is really going on in the wonderful world of $$$$).
ReplyDeleteThanks for reading my rant:)
Mark
I'd rather read your blog than a magazine!
ReplyDeleteThanks Crystal :)
ReplyDeleteMark,
ReplyDeleteDerek Foster invested in individuals stocks most of his investing career. If he invested in mutual funds is was at the very beginning. His newsletter is very basic.
I agree reading those magazines are a waste of time.
@ Mark: I'm not a raving Gordon Pape or Derek foster fan either. Studies have been done & numbers crunched over 15 year & 20 year periods that show that active investing/stock picking is only fractionally better than buy & hold or even 50/50 or 50/40 basket. Steve Pomeranz gave a quick numbers analysis of this. Even Mad Money Cramer doesn't advocate an all in all out market timing routine but suggests a contrarian approach in beaten down markets & stocks with promise. The problem is stock picking tends to be emotional & not so much when to buy but knowing when to cut the dogs & losses. We're all guilty of it. Cheers!! Anon-a- mypoia
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