Joined: 06 May 2004 Posts: 3488 Location: Centreville, VA
Posted: Fri Aug 10, 2007 6:29 pm Post subject: Any Fools out there?
Members/visitors of The Motley Fool (www.fool.com), of course.
They have some great, freely available advice in the realm of personal finanace (banking, investing, debt, car buying, home buying, etc).
Now I'm looking into the possibility of paying for some of their advice.
Reasons why I'm considering doing so:
1) They have sound advice in other areas of finance, so it's not a stretch to think this woudl be good as well.
2) Selling this advice is the current primary means of income. If it were that bad, people would leave and they would soon go out of business.
3) What they are asking in cost for a year's subscription is a) hardly any money in the grand scheme, and b) significantly less than what I would expect to pay a financial advisor over the course of the year.
4) I can't find any cries of "fraud," "lies," or "run away" anywhere on the web. If this were a scam or just plain bad advice, I would expect there to be several loud voices crying from the mountain tops.
Reasons why I'm hesitant
1) I've never paid for financial advice before. We all fear the unknown
2) Some of their claims on ROI trip my "too good to be true" alarm.
3) They've prided their brand on the idea that you don't need "professional" advice to manage your finances well. Buying advice from a company with that mantra just seems weird.
Does anyone have any experience with the Fools, or specifically their advice?
Any advice for me in this realm?
Funny, I asked myself what were the chances that this post was referring to the Motley Fools...
I'll occasionally be scouting stocks at Yahoo Finance and be supplied with a link to an article from The Fool. I've been impressed with the meat that they put into their analysis. They seem to be able to get a good grasp on what the issues affecting a particular stock are and it's been a time-efficient way for me to acquire a feel for the lay of the land.
I can remember back in the boom years when they had Randy Befumo writing the news summaries for stocks on the move. Insight-filled stuff.
I haven't had extensive experience with them, but I'd say go ahead and take a nibble.
They have been around for a long time. Back in the late 90's most of the articles and advice was free. I was a daily reader on their website and used some of their mechanical investing screens.
If I had followed their advice more closely at that time maybe I wouldn't have lost my a** in 2000
I think they are well respected in the investing community.
Back when I was more involved in market watching they were putting their money where their mouth is. They had a series of real money portfolios using, their own money, that were posted on the site and updated daily. They have a forum just like this one for discussions. Not all of their investments were winners. They are not traders. They believe in investing in a stock for a reason and for the long term rather than chasing the lastest hot thing.
I don't visit that often anymore but I doubt their philosophy has changed.
If I was going to pay for advice I supposed they would be my 1st choice. I think they have a free trial offer.
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