Occasionally I watch the financial channels and listen to advice from the various talking heads.
I do not believe their advice is usually worthwhile. Many throw out wild predictions (e.g. the Dow going to 36,000) in the hope that if they are correct, they can live off the glory for a long time. You always hear about the ones they called correctly, never the ones they got wrong.
As for specific stock recommendations, the success rate of the talking heads is, on average, about the same as a stock picking monkey.
One individual who I do not mind listening to is Mr. Ben Stein. Maybe I like him because his general philosophy for investing is quite close to my own.
In May, I plan to write a series of posts on the basics of learning how to invest.
In the meantime, here is an article about Mr. Stein’s three tier approach to financial success.
By the end of May you may understand why Mr. Stein believes the things he does.