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Discussion in 'Investor Resources & Tools' started by Dr Lobster, 28th Aug, 2006.

  1. Dr Lobster

    Dr Lobster Well-Known Member

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    My past experience with the magazines that I used to purchase for entertainment ie Two Wheels, Waves, Tracks, Rock, Wilderness, was that they pretty much rarely had any substance to them.

    Once i subscribed to API but found that I didn't feel like I was getting much value from it, and I didn't continue my subscription.

    I accept that to educate yourself you must read, further I actually like reading and discovering knowledge and having the lightbulb go on. However there is a lot of choice when it comes down to investing related magazines, API, Smart Investor, You Trading Edge, The Economist etc etc. Subscribing to all of these is going to cost (I also accept that you need to spend $$$s to learn)

    So my question is, which magazines to do religiously read and why ?
     
  2. Tropo

    Tropo Well-Known Member

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    DRL,

    Follow this link http://www.invested.com.au/forums/15/tate-trading-960/ . May be of some interest to you.

    So my question is, which magazines to do religiously read and why ?

    Do not forget that all magazines sell other people's opinions.

    The only "magazines" to follow religiously should be your OWN trading/investing system!! (IMHO).
    :cool:
     
  3. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    I found relatively little value in API, and I was quite disappointed with the new Smart Investor magazine - I much preferred the old Personal Investor it replaced.

    Money magazine is great for people only just starting out (ie still struggling with budgeting and saving and basic investment concepts), but is too limited for more experienced investors who are looking for a bit more meat in their reading.

    Personally, I read the weekend Australian Financial Review pretty much from cover to cover (I can do it in the time it takes to fly between Sydney and Melbourne or Sydney and Brisbane ... so I save them to read on my frequent business trips).
     
  4. Nigel Ward

    Nigel Ward Team InvestEd

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    But isn't it old news then? :D
     
  5. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Funnily enough - there's something to be said for reading news from 4-5 months ago (I just finished 25/26 March on the way down to Melbourne this arvo).

    It's interesting seeing the arguments put forward by various commentators about a particular deal or issue - with the benefit of hindsight to be able to judge who was on the money and who didn't have a clue.

    Either way, the weekend Fin has lots of stories and analysis (as opposed to just "news"), so it is still worth reading months after it was released.
     
  6. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    I read Asset religiously. But that's because I get it for free. One of the perks of working in finance. API is ahhh *not so good*. I have a read while standing in line at the Coles in the city when I'm buying groceries for dinner. I tend not to read much finance related stuff outside of work - but that's mostly because I'm surrounded by it all day, every day.

    Mark
     
  7. Nigel Ward

    Nigel Ward Team InvestEd

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    Am I the only one who still finds some "inspiration" in the API investor profiles???

    Admittedly the quality of them is a bit uneven...but there has been some real stars. Our own yeslist for example ;)

    N.
     
  8. Redwing

    Redwing Well-Known Member

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    Api

    I enjoy reading API...

    And find the Investor Profiles Inspirational, The Perth Cleaners who built a $6M Portfolio *blew* me away, what a great effort!

    I used to read API ad-hoc but now have a Subscription free from my broker
     
  9. Jacque

    Jacque Team InvestEd

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    I like real stories, and so API style appeals here. Tables in the back are also useful, even though I subscribe to Residex for NSW cg and yield rates, other states are included.

    The new Smart Investor doesn't have enough property inclusions for my liking - great if you're a shares fan, however.
     
  10. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    They rarely have anything useful for SA, which is another reason I found the magazine to be a bit useless.
     
  11. Dr Lobster

    Dr Lobster Well-Known Member

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    I do not find the write ups on individual investors particularly enlightening or inspirational, this is not due to the quality of the participants in these write ups, its more where I am at psychologically with investing. In other words, I know that people are capable of great things, that one doesn't need to start off wealthy to attain wealth etc etc. If I feel like declaring, I'll pick up an old text that got me to where I am now and re-read that until I feel sufficiently positive to bat on.

    Regarding my investing education, I believe that there are three main areas, none of which are finite. They are:

    1. Book learning- This is the education I gain from formal courses and reading books. It is the foundation of my education.

    2. Uptodate learning - this is the education I obtain about the environment in which I invest (whichever it might be, property, sharemarket, local economy, global economy etc etc). Its not about timing but about looking to the future, being aware of new products and opportunities, understanding where we are in particular markets, what may impact them.

    3. Experience - you can't stand on the edge of the pool and say you know what its like to get wet, if you have never been wet.

    Book learning is easy, buy a book (preferrably recommended) read it, think, question, read some more. Experience - get in (not recklessly) and go from there. Uptodate information - I think this is the tricky one. I believe magazines are not there to educate, they are there to make money by selling advertising space. As a source of reliable information they are lousy, I was hoping perhaps there might be some indicators that some are better than others or there was a clear stand out but so far it doesn't appear to be so. I do not have the time nor the inclination to wade through the plethora of magazines to crystalize a few salient points that I may benefit from.

    So the question now is what resources do you use to update your knowledge ?
     
  12. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Just don't make the mistake that assuming that all books contain reliable information. There seems to be common occurrence where people associate authors with expertise ... anyone who has written a book is automatically assumed to be an expert.

    You don't (necessarily) need to be an expert to write a good book - you just need to be a good writer. Similarly, just because someone writes for a magazine, doesn't mean they don't have anything valuable to say.

    ... but in general, I agree that the information in many magazines (and newspapers) is lightweight and lacking in detail or context. However, I feel there are still many good things that can be learned from these mediums ... especially when it comes to understanding concepts or broadening your outlook on investment possibilities.

    It's about focussing your time on valuable activities ... and I find little value in many magazines and papers, but do personally find some value in the Weekend Fin - mostly from an understanding the economy point of view, and the occasional interesting article on investing techniques or strategies.

    A good book is always worth the effort though ... and is handy to keep on the shelf as reference for when you need some clarification.
     
  13. Tropo

    Tropo Well-Known Member

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    "So the question now is what resources do you use to update your knowledge?"

    Generally - I would suggest that any resources should be treated with a bit of salt. Problem is that it's not easy to recognize which resources are the best. Try to find people who are involved in the same endeavour as you are. Consider joining investment clubs and the like... I found that books (not all books are good) are the best resources for me, but after all hands on experience is the best source of education (sometimes costly).:rolleyes:
    :p
     
  14. Leandro

    Leandro Well-Known Member

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    I subscribe to API and definately think that at first when i started to read about property it was very useful, as you pick up many tips and tricks in an informal manner that are very useful and you wouldn't necesarrily know.

    Now, however that i have been reading the magazine for about 2 years, i have to say that the articles do get a bit repetitive. The personal stories are probably the best part, but do lack the detail required to get enough real use out of them i think.

    I would imagine that over time i would stop reading it as often as i do now, and keep up to date by maintaining active on this forum and SS. And of course communicating with the network of people that i meet along the journey that have similar goals to me. :)
     
  15. hiflo

    hiflo Well-Known Member

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    What I usually do is use my lunch time (almost everyday) to read all investor/property related magazines at the Newsagency and if I find that there is an interesting article, I buy the issue.
     
  16. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    You sound like someone with an addiction (to investing) :eek:

    I'm not suggesting that is necessarily a bad thing :D
     
  17. Leandro

    Leandro Well-Known Member

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    I bet the newsagent owner loves you. :)
     
  18. TryHard

    TryHard Well-Known Member

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    I agree with everyone who said API gets a bit repetitive after a year or so. I am suspicious that they might do a "find/replace" on investor's first names, suburbs and dollar amounts and just re-publish the same article on a cyclical basis ;-)

    I just subscribed to The Bulletin for a year, partly because it was $200 saving, mainly because it put me in the draw for a new car, and not at all for the articles, although I am sure I'll enjoy the odd story :D
     
  19. Lowb

    Lowb New Member

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    i read the proprety section in SMH on saturdays
    it has some PT and auction results as well