Comments on: What Financial Information Sources Do You Truly Trust?

By: beth

beth — Sun, 19 Jul 2009 12:40:53 +0000

true Dan about “I take my financial advice from rich people, because they’ve got a proven track record.”
It’s definitely long-term investing to reach my goals but explore the deeper meaning of “(unless you’re smart, and gutsy, enough to buy low)”. That sounds like a confidently informed risk-taker, and I think that is what “rich” or financially independent people do.
There are so many books that reveal common threads that make up the thought processes of the wealthy mind. My thinking has to be willing to take risks and believe it will work and to take losses along the way. I guess it may really be perseverance and wisdom together….

By: imelda72

imelda72 — Thu, 26 Apr 2007 22:49:45 +0000

NPR has a SLIGHT liberal tint?? LOLOLOLOLOL!! I’m a hard core liberal, but even I find that comment amusing. ;-)

By: Dan

Dan — Wed, 03 Jan 2007 11:04:01 +0000

Everyone has something to gain from your attention: magazines, newspapers, bloggers, media pundits. It’s really a matter of who has honesty and integrity. I’m a magazine editor for a residential construction magazine. Our readers trust our tool reviews for a few reasons: 1. We don’t care if we piss off the advertisers (only 1/2 our revenue comes from advertising compared to 3/4 or more in other magazines), 2. Our articles are written by builders and edited by former builders, and 3. We have a 25 year track record of honesty with our readers.

Consumer Reports is great for many things (I susbcribe), but sometimes even a non profit can get stuff wrong. Not because of bias but because they don’t understand what they’re talking about. I read a review of circular saws in their magazine a while back which gave a ton of weight to the blade(!). Blades cost $10 and are disposable. When I was a builder, I bought a new blade before every house. They also fall a little flat on thing like insulation and energy efficiency measures in the home, which depend on a bigger picture than most people, magazine editors included, realize.

Who do I trust for financial advice? I ask my accountant, my attorney, and my wife, then we sift the information and make a decision. I take my financial advice from rich people, because they’ve got a proven track record. I read the WSJ for money and business stuff, but really, if you take a long term view of investing, the stuff in the paper is irrelevant (unless you’re smart, and gutsy, enough to buy low).

By: dimes

dimes — Mon, 27 Nov 2006 21:46:29 +0000

Don’t trust any source who has anything to gain from your attention.

By: Sun

Sun — Mon, 27 Nov 2006 20:13:22 +0000

I really don’t have a source I can say I trust absolutely. Except hard cold numbers, I don’t take anything for sure. Of course, non-profit organizations such as Consumer Reports are less likely to be biased toward other industries or entities.