So, not too long ago - I wrote about some estate planning that I’ve embarked upon. My adviser is coming back next week to finalize the plans and I’ll be on my way to … something.
I’ve been slowly looking into different investment resources. I’m not too overly risky when it comes to parting with my hard earned dollars, but do realize that having my money work for me is a good thing to do. So, I’ve been slowly looking into different resources and information available on the web to try and determine which investment strategy is best for me.
One of those resources, among many, I looked into was Investor’s.Com. They have a publication: Investor’s Business Daily that I took a 2 month trial subscription for. I thought I’d read up a bit on market stuff and see if I can absorb any great insight from it, and then decide - at the end of two months, if it’s something I want to continue doing.
That’s what trial subscriptions are for, right?
So, yesterday - after receiving my third weekly edition of IBD, I get a phone call. It goes something like this:
IBD Rep: I’m calling to find out how you like your new subscription to Investor’s Business Daily and wanted to let you know that our publication is top rated in the industry…blah blah blah de blah . . . typicalmarketing blah blah…more marketing blah blah - - so, after hearing all of that - I also want to advise you that most of our subscribers report to us that they really need to read IBD for a good, solid 6-8 months before they really start understanding the market and the information presented. (Insert pitch to sell 2 year subscription here)
Me: Well, thank you for your concern, but really - I’m just trying it out at the moment. It’s only been three weeks and I haven’t really . . . .
IBD Rep: (interrupting)…No offense to you, but most new subscribers really need to read our publication for a solid 6-8 months before they really begin to understand the concepts. In addition - if you subscribe to our two year - - you will also have access to our diverse investment programs . . .
Me: (interrupting) Yes, I understand that. But you see, I’m just starting out here and IBD is not the only resource I’m tapping into in order to educate myself on these concepts that you say will take me at least 8 solid months of reading your publication to understand. Actually, I’m hoping to be well invested by that time. . .
IBD Rep: There are many resources out there, but our company is top rated . . .
Me: (getting irritated) - I’m sure your company is top notch and highly rated - - but so are many companies out there, and I happen to be weighing my options . . .
IBD Rep: (interrupting yet again) Well, what I can see is that it’s apparent that you aren’t even close to being ready for a service like ours, and probably aren’t even ready to be reading our IBD weekly publication . . .
Me: Yes, I did mention that I’m just starting out, did I not? Is this some kind of sales tactic they teach you over at IBD? Insult a person into purchasing your product? Is this the way you treat new investors? Tell me, has this sales tactic worked on anyone in the past - - or are you just trying it out on me for the first time?
IBD Rep: *click*
Yep. He hung up on me.
Did I mention their company name yet? Investors.Com - that’s http://investors.com - the publication is Investors Business Daily.
But only contact them if you’re ready to understand their obviously very complicated concepts. Until then, you’re better off going someplace else.
Sheesh.
Sounds like we’re very similar in this...
6:51 am on April 8th, 2005
You’re way too nice to telemarketers!
8:03 am on April 8th, 2005
IBD is very good, but The Wall Street Journal really is the top dog. Now, it may not be a bad idea to talk to a broker. You can interview them just as you would a perspective employee (that is what they are). Their success depends upon your success. JMO and thought it might help.:smile:
8:21 am on April 8th, 2005
Thanks, pam
I’m sure IBD is very good. I’ve been reading it and actually learning a great deal. If that Rep. is any indication of their customer service, though - they have a ways to go to get any of my future business.
I have been looking into brokers with the help of Reilly and my father, both who are savvy in the mysterious arena of investments and stock market stuff.
See? I’m just not ready, nor sophisticated enough for IBD yet.
8:27 am on April 8th, 2005
Since it seems like you have a few problems with telemarketers, here’s a couple proper responses to magazine telemarketers…
“Your magazine was okay at first, but when I took it with into the bathroom it gave me a rash.”
“Bob? Yeah, I remember you! You were the one at the party the other week that got all drunk and screwed the neighbor’s dog!”
8:47 am on April 8th, 2005
Regarding your advisors compensation. I hope you are not going to purchase any products with sales load. If your going with mutual funds, there are many outstanding funds with no loads and low expenses. Check out Vanguard & TRowe Price for starters.
If he is worth his weight, he will put you on an money under management program. Whereby his compensation is earned via a fee. i.e .5% of total assets in the account.
Okay, I’ll get off the soap box now. Happy investing, and remember your in it for the long haul.
Bob
Also, what type of credentials does he carry? Has he earned a ChFC or CFP desigination?
6:21 pm on April 8th, 2005
Thanks for the info, Bob. Filing that away
5:04 am on April 9th, 2005
3- HAHAHA! By gosh I think she’s got it! And, BDG is good, but not worth it if that is the way they treat prospective customers.
9:30 am on April 9th, 2005
Lisa,
I think that IBD is a pretty good newspaper. I subscribed to it when I was working in America. It is too bad that their sales rep. is acting in this way. I can recommend you to read William O’Neil’s (founder of IBD) book, 24 essential lessons for investment success.
All the Best,
Martin
5:06 pm on April 9th, 2005
But, Lisa, didn’t you get that they’re a top notch resource? I mean, he didn’t say he was a top notch salesperson. Sheesh.
9:58 pm on April 9th, 2005
good luck with the estate planning
2:30 am on May 10th, 2005
Sorry to tell you but you sound like …just like a miserable idiot in the world. Dumb person who wants to invest without putting any effort.
If to make money in stocks were as easy as to walk to the park everyone would do it.
During your free subscription have you ever took the time to look at their website? I bet not. If you do you would find something very helpful.
You would realize that the website and a weekly paper (once a week) is all you need to stay on top of the market.
WSJ is a great paper with amazing editorials. IBD is a paper that shows winning stocks and highlights stocks within a buying point. With a precise strategy on when and how to buy and sell
In addition to that it offers a full educational support so that you can became a better investor and make by yourself all the choices.
The AAII American Association of Individual Investors rated IDB as the number one strategy in 6 years in a row comparing it with all other strategies available in the USA.
Instead of bitching about a rude sales rep share something interesting about investing. Your bitching doesn’t have any use it is just something to wriye for your website and you also bitch about a product that obviously you have 0 knowledge about.
FYI IBD has local meetings all over the country once a month, go to one of those meeting if you really want to learn something. They are free of charge you got nothing to lose if you try.
You never took any time to undestand what IBD is all about, if you did you would know that there are no one single investment research tool like IBD
But since you are “just trying out things” and you don’t even know what you are doing best you can do is to bitch
9:13 pm on July 9th, 2005
I found your site by Googling Investors Business Daily. I’m getting one of those trial subscriptions and was amazed by the publication. It’s not like the Wall Street Journal or Barron’s, which are fairly objective. It’s a publication promoting a very specific philosophy of investing, almost like a publication promoting a specific religion. It’s like the Christian Science Monitor of a specific investing philosophy. The philosophy is something referred to as CANSLIM.
This CANSLIM system was developed for money managers over 25 years ago by Los Angeles-based firm William O’Neil and Co. and the claim is that it’s used by hundreds of institutional investors. The system is based on both fundamental and technical analysis of stocks and the market environment. It supposedly defines the requirements for successfully selecting stocks through seven characteristics of winning stocks that have emerged through the history of the stock market, before they made their major price moves.
CANSLIM is itself an acronym to summarize characteristics that have allegedly historically defined winning stocks. They are: Current Earnings, Annual Earnings, New Products or Service, New Management, New Highs, Supply and Demand, Leader or Laggard, Institutional Sponsorship,Market Direction.
You can get more detail by Googling CANSLIM or Investor’s Business Daily.
I, myself, am trying to Google around and see if CANSLIM is for real or if it’s some faith based thing into which suckers pour their hard earned, as you say, money.
The fact that there are little groups of acolytes meeting Tuesday night in the libraries and church basements throughout the land to light candles to the CANSLIM gods does not bode well for anyone to actually make money following such a system. You might achieve enlightenment, though …
7:01 am on August 4th, 2005
lol phil i liked your comment…did u have n e luck seeing if this canslim method is true?…or if any of the testimonials in the book is made up?
chands
9:53 pm on August 15th, 2005
I learned about CANSLIM when I was an undergrad at Pepperdine. My Institutional Finance professor swore by it. He was pretty well known in intellectual circles. But I can’t vouch for whether it works or not.
6:52 pm on September 3rd, 2008
I work at IBD as one of those horrible telemarketers, earning a honest living. There are probably about 75 agents here and I’m sorry you had a bad experience with ONE of them. Like in any company that has MANY employees it unfair to say that one represents the whole lot. Should I say that ALL mechanic are thief because I had that expience with one. When I talk a customer I find out their need and work with them. The paper have been of valuable benefit to lots of investors. Sorry you had a bad agent, it happens, but it not how we all work