I’d like your opinion on investment newsletters such as those offered by the guys over at Tycoon Research. Is it possible to use this in your money making 201 phase. At the moment I’m still in making money 101 but I can’t shake the idea of leveraging someone else’s knowledge to make you money. Of course, as with all things, you should know enough not to be taken for ride.
This is a really easy one!
Does Warren Buffet:
a. Write about his stock picks and earn a fixed fee for each one that he publishes?
b. Invest in his stock picks on behalf of his customers and take a 1% ‘cut’ on the money invested?
c. Invest in his stock picks on his behalf (and, on behalf of the other shareholders in his own company)?
a. Might produce $100k – $1 million per year revenue, depending on how many subscribers you can get.
b. Might produce $1 million – $100 million per year revenue, depending upon how much money you can get under your management.
c. Well, how much did we say Warren Buffett is worth?
Newsletter publishers are on the bottom of the wealth totem-pole, so I would give their ideas about as much credence as I would give to anybody who makes their daily living by giving you information.
I would only take my information from somebody who has already made 10 times as I want to make from doing the exact thing that I want to do …
… so, if you can find a newsletter publisher who fits that criteria (and, I’m sure they’re out there, for the same reasons that I’m here), then go for it!
Otherwise, you’re going to have to learn how to do research (BTW: much of what I’ve seen in the Tycoon Report that you mention falls into the ‘how’ category … I read it!), then do it yourself …
If it’s stocks that you’re interested in, you could do worse than start by reading Rule # 1 Investing by Phil Town.