Best ways to maintain current knowledge of the finance world?
I recently graduated college with a finance degree, so I understand the fundamental and technical concepts, but I’ve always been pretty clueless when it comes to the real-world side of things (e.g., I can’t hold my own in a discussion on the economy, or say what the market closed at today, etc.). I subscribed to the Wall Street Journal a while back in an attempt to remedy this, but rarely actually read it at the time so ended up canceling after a few months.
Now that I’m starting up in the financial advising industry, I have both a desire and an obligation to stay well-versed in what’s going on in the finance world (everything from general economy info to investment strategies and so on) and am looking for good sources of fairly unbiased information (i.e., I don’t want to learn what’s going on in the economy from Fox News).
So how do you financial advisors and other knowledgeable individuals out there do it? I’ve considered subscribing to the Wall Street Journal again since I’d no longer have the same problem of letting them all stack up unread, but want to see if anyone has other suggestions – magazines, websites, TV programs, etc.
Grats on graduating from college.
For news on the industry, firms I like Registered Rep (you're here. Click the main logo, if you didn't know this its a monthly magazine).
For finance I like Yahoo finance. Google has their own as well (creatively called Google finance).
Some people (i.e. some clients) watch Jim Cramer. His stock picks get published. The running joke is that "Mr. Cramer, I watch your show religiously! I've made a lot of money telling people to do the opposite of whatever you're recommending."
It's not that he's wrong, its more of that he has an influence over the market so when he says to buy or sell a paticular stock that creates an artificial demand. Be right a few times and everyone thinks you're a clearvoyent.
There's also shadowstats.com for lengthy papers on how the government manipulates the monetary system to suit it's needs. Get ready to jump out a window when you get half way through reading the one on the CPI index (consumer price index aka inflation index).
Hope that helps.
Seriously, WSJ - ten minutes tops - Cruise the front page center two columns ,then heard on the Street, Then turn to bond page. That's it! Don't forget the help wanteds , you never know!
Investor's Business daily. Front page and toss unless something interesting.
Smart money mag -yeah ,i know, but it will keep you up on investor trends.
RR and research mag to keep up with goings on within the industry.
All this will keep you current but an advisor it will not make you.
Know any product/service/security you own in client's accts cold. My attitude is if you can ask me a question about X that i can't answer, I won't sell it to you.
You need to develope an opinion on the world and on how to best serve clients. Then you need to develope a product/service platform that delivers that POV. Or, you could just adopt your employer's POV and use that. Who do you think would bring more value to clients?
Do all of this during non production hours.
Wikipedia you say? I never thought about that… I think the question referred to the news in financial world. Can Wikipedia be used in this context as well? I remember using it when I learned few things about the real meaning of homestate, but that’s it.
Actually investing would be the best way and it would open you up to the true risks of any strategy. I’ve been investing for a little over 7 years and would say I am very well-versed on financial markets, strategies, etc…Go out there and buy some stocks/commodities or begin trading! you’ll feel much more tied to what you’re doing then simply reading about something when you have no skin in the game.
Thanks for this information. Nice.
buy instagram followers = www.upyourreach.com/