Free investment advice for small investors?
February 2, 2010 by
Filed under investment advice
There are newsletters out there selling for hundreds of dollars that give investment advice on what stocks to buy, mutual funds, etc.
Are there any free resources such as forums, etc where you can find stock, mutual fund recommendations, etc that are inexpensive or free? For example I went to Motley fool for their recommendation of 2 hot stocks to buy, but they wanted a hundred fifty bucks for the Free recommendations. Ha.
those things aren’t worth your time. it’s just one person’s opinion. why not just look at stocks yourself, and come up with your own opinion?
There are more free recommendations than there are stocks. You will do as well throwing darts at the newspaper. Same for paid recommendation for the most part. If you want to invest in stocks, you ned to learn how to make your own decisions. Free or paid, newsletters are only a source of IDEAS, and you can get those anywhere.
Never pay for investment advice, unless it is from a licensed financial planner who has your best interest in mind. Shop around, different offices may emphasize some stocks over others. Check out Sharebuilder.com, you can invest in stocks or bond funds for what you can afford and only 4 bucks per trade. Other brokerage houses charge 7-9 bucks per trade. They also give their recommendations for free, but do your own research as well to know if it is a good deal for you.
http://www.top10traders.com is a free site where you can build your own practice portfolio of stocks, ask questions, and see what other people are buying and selling.