To be a good investor, you must marinate your mind in investment information. The world of investment is impossibly complex. It is linked to every facet of worldwide economic and political realities. I’ve laid out 3 publications that will be extremely helpful to seasoned investors and beginners alike. Each has a different specialty, but taken together your knowledge of investment and personal finance will increase. Can’t subscribe to all 3? Kiplinger’s is only $12 a year. Making investment literature part of your daily intellectual diet is one of the best investments you will ever make.
- Kiplinger’s Personal Finance Magazine – If you subscribe to only one finance magazine, consider making it one of the Kipling’s publications. Kipling’s Personal Finance has the most to do with investment, though it covers a huge range of personal finance topics: tax savings, credit cards, fee comparisons. At only $1 an issue, there are more than enough healthy tips in each installment to justify the cost of subscription. The articles are short and intensely practical. Kiplinger’s doesn’t insult your intelligence, or assume you’re a millionaire (though there’s stuff for you here, even if you are).
- Investor’s Business Daily – This publication is a serious commitment, but it’s printed with the serious investor in mind. Being a beginner isn’t disqualifying, but the $341 price tag for 252 issues will surely turn away the faint of heart. For those that remain, Investor’s Business Daily is an invaluable resource. Their proprietary CAN SLIM investment strategy is a proven way to analyze prospective stocks for inclusion in your successful portfolio. Some people complain about the Conservative bent of some of the editorials, but these aren’t the meat of each issue. By following the precepts in these issues, and taking advantage of their analysis, you will work to become a human computer. After a few months of reading, you will be able to know, at a glance, if any one stock has potential. You’ll also know when to cut your losses on an underperforming stock (Actual IBD advice: if a stock loses 7-8%, sell it. ALWAYS!). If you are on the fence, take advantage of the free educational materials on their site before you subscribe. Read up at com. If you have the discipline to get the most out of these free sources, than IBD will be a good addition to your investment reading.
- The Economist – The Economist is not an investment journal, nor is it limited to finance. It is, however, one of the best publications on finance as a global organism. You will understand the Market through the lens of current and world events. The Economist is more expensive than Kiplinger’s but less than IBD, but the level of journalism is above and beyond the typical. The Economist can make you a more well-rounded financial mind, and human being besides.
There are plenty of other magazines out there about investment and finance, but these are three of my favorite. If you subscribe to only 1 or 2 of these selections, you will be doing better than most. Invest in a subscription for yourself or a loved one. It’s a small investment that will pay off huge dividends in your knowledge.
I don’t use any magazine to help me select investments. I have an index fund strategy that’s not swayed by “the best seven funds to by now” sorts of pieces. I’m not sure the latter two are like this, but I know Kiplinger’s is as I subscribed to it for many years.
I do read Money magazine, but not really for advice, more for just fun and trends. It’s like the People magazine of finance — content is very surface-level but it’s still fun to read.
I subscribed to IBD and The Economist once upon a time. Some of the content was good just to keep up with what was going on. I love Barron’s for my investment news, but I know that is not a magazine so it wouldn’t fit into the category. I enjoy some of the periodicals more than the magazines, but a lot of people are more into magazines than periodicals.