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Well That Was A Waste Of $10

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March 30, 2008 – Comments (11)

Since I became an active investor two years ago, I've been getting various offers in the mail. Some of them are for penny stocks (which I've shorted in CAPS to great effect when they are rateable at all) Others are for various magazines. Somebody has obviously sold my name, but I'm not sure who. (I forgot to do the trick of using a different middle initial for the stuff I signed up for so that I could track who sold the mailing list. Bad me.)

One of the few offers that I did opt for was from Forbes magazine. I remembered Forbes from my childhood as being an imposing tome full of detailed if somewhat stodgy financial reporting. The offer was for 13 weeks for $10, which seemed like a pretty good deal. So I returned the card and paid my $10 when the bill came.

The problem is that Forbes isn't what I remember. It seems to be mostly ads catering to the those who would like to be mistaken for high net worth individuals. The editorials are of no value. A lot of the articles are useless. Really there are only about three articles per issue that are interesting and informative. By comparison The Economist (which I also take) is a veritable gold mine of reporting and analysis.

Now part of my plan to become a high net worth individual involves living like a low net worth individual and saving the difference. So ads for expensive watches (I've already got a watch, it works fine, thanks), expensive vacation resorts (lots of reasonably priced places to visit) and fractional jet ownership just aren't useful to me. (Yeah, I've read The Millionaire Next Door and think it's great!)  Steve, I know you felt you had to change with the times, but what were you thinking?

Needless to say, I won't be re-upping when this trial sub runs out.  

11 Comments – Post Your Own

#1) On March 30, 2008 at 5:36 PM, Tastylunch (29.26) wrote:

You know I'm pretty sure IBD sold my name to a bunch of pumpers. when I subscribed to Value Line I got no solicitations but within two months of my IBD subscription I was getting newsletters about all sorts of OTC stocks that the newsletters claimed "could be the next AAPL or EXXON????!!". Still I can't be sure, I forgot to do the middle intial trick too.

I agree. Forbes mainly seems to make lists these days (top ten cities for singles, top tv systems etc), definitely not worth the cash. 

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#2) On March 30, 2008 at 5:59 PM, dwot (67.78) wrote:

I often do not enter my name correctly when I am forced to go through fill out that information before getting past this screen type of stuff and I get this weird name stuff in the mail.

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#3) On March 30, 2008 at 6:03 PM, YoungInvestor99 (98.92) wrote:

I got free samples from Forbes, I though the jet ads with Warren Buffet were worth it. They have sent me about 6 free issues after I requested them on forbes.com - including the billionaire issue.

I agree, a lot of the articles are full of jargon and hard to read and boring.

I also agree the Millionaire Next Door is a wonderful book!

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#4) On March 30, 2008 at 6:13 PM, EverydayInvestor (< 20) wrote:

Well, Forbes is still better than Conde Nast Portfolio. That is the most worthless piece of crap ever. I subscribe to the Wall Street Journal, Financial Times, Barrons, Forbes, Fortune, Business Week, Fast Company, Inc, and Smart Money.  Most of those were paid for with airline miles that I wasn't ever going to use elsewhere. When my subs run out I will likely continue WSJ, Barrons, and Smart Money. I like FT, but it is hard to justify subscribing to both it and WSJ. 

@TastyLunch -- I heard that MYEC.ob is going to be the next Paypal! If you act now you could MAKE A FORTUNE. OR YOU MIGHT EVEN MAKE A FORBES (or a 5th avenue).

 

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#5) On March 30, 2008 at 6:40 PM, Tastylunch (29.26) wrote:

SWEET.

I wanna make a Forbes.

color me convinced! I'll go buy MYEC.ob on margin on monday! Report this comment
#6) On March 30, 2008 at 6:44 PM, abitare (39.45) wrote:

WSJ, Barrons, Forbes, Hulbert Digest, Prudent Speculator, Outstanding Investments, Aviation Weekly, Gary North, Maudin Letter,

I read as much as possible Barrons, Hulbert, PS, OI, GN, Mish Shedlock. I read WSJ, AW and Forbes when able. I might re up the Economist and Foreign Affairs.

I check Bloomberg.com daily and watch almost all videos there. 

I also have multiple subscriptions on youtube to Finance links.  

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#7) On March 30, 2008 at 7:46 PM, SESAMEnow (96.71) wrote:

Ok, I got a better deal in the mail.  My name must have been sold as part of different professional mailing list. I subscribed for a year.  But in truth I think the libary is vastly under rated for obtaining low cost information available in such magazines and other sources.  Once I retire I plan to bike to the local libary and spend a few hours each day taking notes from these magazines on my lap top.  I may even use the information in a book I am thinking of writing:

The Coming Boomer Explosion....

SesameNOW

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#8) On March 30, 2008 at 11:02 PM, floridabuilder2 (99.26) wrote:

I read Economist..... that is gold if you want to invest internationally........  I also have Fortune.. why?  because when $hit hits fortune regularly it is time to sell

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#9) On March 31, 2008 at 10:52 PM, nuf2bdangrus (< 20) wrote:

Minyanville, Seeking Alpha (must do some sifting there), Bloomberg, and CAPS picks have turned out to be the best sources of investing info  Minyanville has been way ahead of the curve with many of their contributing authors calling this mess, and  pointing to additional info from Fitch and others which show we have a LONG way to go.

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#10) On May 04, 2008 at 7:34 PM, TDRH (99.68) wrote:

I find the overall tone of the Forbes articles to be condenscending, and not very substantive.    I subscribe to Money Magazine and the Wall Street Journal.  Unfortunately about 97% of the WSJ goes unread.  Does not appear to be enough time in the day.

Not to appear cheap or anything but I pay for Money magaizine with the tops of Coca Cola, and the WSJ was from Airline miles.

A friend of mine subscribes/pays for the Contrarian Investor and he shares it with me.   Very insightful and not trying to sell anything.   The Economist is a great magazine, and probably worth the price, but I am relatively cheap.

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#11) On June 17, 2008 at 11:18 AM, HatchingPlans (40.52) wrote:

I think I've just saved myself a lot of money by just using yahoo finance and my noggin for stock picking...

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