Let’s face it. No one really knows how to beat the markets. Certainly not every day people like us. This is why we trust others to decide how best to invest our money. We let stock brokers pick the best stocks for us. Or we put our nest eggs into mutual funds.
This has the advantage of letting a group of people who really know what’s going on and who stay on top of the latest trends decide when to buy and sell our stocks and bonds or how much money should be put into new businesses.
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But if you still insist on doing all of the work yourself on spending your time reviewing all of the financial websites out there, then you should learn which ones to stick to. Don’t go everywhere. You will get too much information and conflicting advice.
And don’t think that you can get the best advice by watching CNBC or Fox Business. Do you really think that people like Warren Buffet, Carl Icahn, or anyone who runs an investment firm watch those channels to find out what is going on?
If the people on those shows really know so much about what to invest in, then why are they working for a cable news channel? Why would anyone, such as an expert, just give away their advice for free like that? People who hire the best financial advisors out there pay them a good sum of money for their expertise. And they work very hard at what they do and certainly won’t just give away tips on a TV show.
What is most important to remember, however, is that wherever you go for financial advice, whatever website or magazine, the people who report on these things know a lot more than you. They cannot and do not explain in depth how they actually came to their conclusions. If you take their advice, then you are putting your faith in them.
So be careful about who you choose to listen to, because when it is not a personal broker or someone who handles a big fund they do not need to care whether you lose your shirt.
So here, in no particular, is our list of five top websites where you can get financial/investment advice. But as the wise man said, let the buyer be ware. No one can make any promises or guarantees when it comes to investments and we certainly are not doing so now.
This is an all-encompassing news site. You get the world news in addition to financial information. You need both if you are going to invest. Like everyone says all of the time, “If I had only known then…” If we had only known in January 2020 what the Coronavirus would bring, we would have shorted out all entertainment, travel, and airline businesses as well as commodities like oil. Then, we would have put everything into medical supply and research companies.
Do you want a hot stock tip? Guess what! No, you don’t! You want to be informed and know what is going on in the world in general. Not just industry trends, but also politics. Will there be a war somewhere? If so how will that affect certain markets and industries?
Bloomberg provides it all; world news, business news, stock analysis, and much more. But as with all good things in life, it does not come free. There is a fee for access to its full coverage and all of its stories. If you want a replacement for expensive financial advisors and to be able to do it on your own, then it is certainly worth budgeting however much per month for these things.
It is no cliché to say that you have to spend money in order to make money.
Same as above. Everything said about Bloomberg also applies to the Journal. The oldest and most trusted source for news on what goes on on “The Street,” as people call it. And for the same reasons, it comes with a monthly subscription fee.
Yes, that Yahoo. We know most people laugh it off today as the company was beaten out of the market by Google. The original go-to search engine just could not compete. But we aren’t telling you to use it for web searches. Use its financial news pages.
This site is loaded with interviews with the top people in the world of business, as well as numerous advice columns. It also offers links to the top headlines in business of the day. The other websites you visit might charge fees, but you can usually get access to the first few stories per month for free.
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This is a for-pay service. You can do your research on it to see if it suits your needs. The Motley Fool is a private financial and investing advice company based in Alexandria, Virginia. Its basic service offers general news stories and tips about what is going on in the markets. But if you want the premium service then it will cost you $199 per year for the more basic “Stock Advisor” plan and $299 a year for the higher-level “Rule Breakers” plan.
The company offers a 30-day refund period. The Motley Fool boasts that its recommendations have beaten the market over the past 18 years. They say that they believe your best chance to succeed in the stock market is to buy at least 15 stocks and hold them for at least 5 years.
So this service is probably better for people looking for longer-term investments and not just making a quick buck.
Similar to the Motley Fool, this s an American financial services firm headquartered in Chicago. Morningstar offers both investment research and investment management services. It also has free articles and other advice on its main page. But the important stuff comes with a fee of $199 a year. However, they do offer a free 14-day trial period. It boasts that the premium service offers financial advice from more than 150 “objective, experienced analysts—dedicated to specific industries and securities.”
