Stock Market Newsletters Ripoffs
"Subj: Re: A Resource Speculation With Big Upside Potential"
That was the subject line of an email I received from a stock market service I receive via email. You probably have received emails with claims of spectacular returns with big, no not big, HUGE upside, if only you were a subscriber to the sender’s market recommendation newsletter.
I buy quite a few subscription services from stock market analysts. Some are good and others not so much. By receiving quite a few newsletters I am allowed a broad view of this industry and how they market their stock recommendation products. If you buy any of these services here is one thing you will see consistently.
Most analysts have to write two articles.
1. The price of _____ is going up.
2. The price of _____ is going to go down.
That way after it goes up or down they can write another article titled "I'm brilliant and I told you so, just follow this LINK! The market went up/down and on __[fill in the date]__ I told you it would. Now buy my newsletter and you can get rich quick right along with me!”
Like any service with little regulation and touting free speech, this one is fraught with charlatans and snake oil salesmen. So take heed and watch your investment dollars. If you subscribe to any of these services don’t jump in right away to buy what they recommend. Take a few months to follow the recommendations on paper before committing your hard-earned investment dollars. That way you will be better able to determine whether the analyst knows what he or she is talking about or whether they are just blowing smoke to churn subscribers.
See also, Be Wary of Stock Market Investment Newsletter Offers, April 6, 2015, Attorney Lombardi
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