Kiplinger is a personal finance magazine I have since year 2001. In its May 08 issue, I found “Tune out the seers” (Promised Land column) by Andrew Feinberg, in which he is saying everyone (especially experts) likes to predict the market and economy, but we should just ignore them. Or in the case of famous guys like George Soros, we could pay a little attention. But we still need to understand the logic behinds his conclusion, and do not let others opinion change our plan without our own homework. Quote John Kenneth Galbraith: there are two kinds of forecasters. Those who don’t know and those who don’t know that they don’t know. The article is not online yet, but I found Andrew’s another article Let Your Winners Run entertaining. Hope you have not listened him blindly if you bought AAPL shares last year 🙂
Barrons launches daily stock alert
I started to subscribe Barrons since this year, and enjoyed it so far. I always think Barrons (along with WSJ), probally is the best business (finance) newspaper in this country. But one thing I also notice is the business of newspaper is deteriating in the US very rapidly, WSJ and Barrons is no exception. Thus the buyout of Dow Jones (parent company of WSJ aand Barrons) by Murdoch last year.
As a part of rescuce effort, now Barrons is launching Daily Stock Alert. I have not signed up for it, because I think all stock picks newsletters make money by the newsletter subscriptions, not by their own portfolio performance. If a guy (or a lady) is really that good at picking stocks, why not buying those stocks in their portfolio, and make the money from it (which is Mr. Buffett did so successfully in last 50 years).
Oh, BTW, Mr. Buffett picks stocks by himself, not from Barrons or other newsletters 🙂