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Author: cocomurph1 Big gold star, 5000 posts Old School Fool Home Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 46815  
Subject: Re: TMF's Future-Could Less Be More? Date: 10/14/2005 12:01 PM
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Hi Jack!

If you really expect TMF to do this much work for you newsletters are not the service you need to be purchasing

I may have miscommunicated a bit here. I do my own personal brand of DD/FA on all TMF picks I'm interested in. I suspect, based upon two years of roaming about 70 boards that many ( most ) do not.

TMF missed something on one of their picks. Too darn bad

Perhaps I didn't make myself clear.....I expect TMF to miss on some of their picks, as Tom G said from day 1 of the HG service...ergo diversification. It is the REASONS for misses ( missing knowable details, for example...versus, say, being wrong about some strategic business issue or merger, etc. ) One case is sloppy detail work, the other misjudgement. I have no problem with the latter...I do with the former.

I don't think TMF is responsible for tracking each pick until the end of time.

Nor do I, but TMF obviously feels that as long as it's on their reco list and scoreboard, they do keep tabs on each equity. Otherwise, why do they devote so much time to the reviews of past picks? Why/How do they re-rec?

Waiting for a TMF newsletter to tell you to sell or that they made a mistake is too darn late and not in your own best interest and your own fault

I do not do this, as I have sold when a TMF product said hold and bought when they say sell. I do take responsibilty for my own actions, especially since I am retired and have the time to spend on investing activity.
The vast majority of Americans ( IMHO ), due to either lack of time, lack of the proper skill set or even downright laziness, DON'T...and WON'T!

By way of direct evidence, look at the sheer numbers of people still looking to the full service/full fee brokerage houses for 100% of their investment advice. When the broker says to buy, they do; when he says to sell, they do.

IMHO, if they do a bit of reading at TMF about first getting their financial house in order ( emergency fund, nix credit card debt, etc ) and then read up on the various newsletters investing styles/strategies ( how aggressive do they want to be, asset mix given age/goals, etc ).....and then pick the newsletters that are right for them, given their age/income/goals......and then simply follow their newsletters pretty closely via an online discount broker......they will be better off net of commissions than they are at the salesman-focused churn houses known as full-service brokerages. I know wherein I speak, having lived in 14 cities and 9 states, and having experience with almost every major brokerage firm over the past 25-30 years, plus having gone the "financial advisor" route twice at 1-1/2% of assets annualy .

Yes, TMF's mission is to teach people how to fish ( educate ) versus giving them fish ( just follow picks blindly ). But IMHO, the evidence points to the fact that the vast majority of American investment fishermen simply want someone to take them out to the normally best fishing holes, show them what type of bait to use and where to throw the line. No guarantee that fish will be caught...but the odds are greatly improved. I submit that TMF, with all its faults and imperfections is a much better fishing guide than major brokerage houses for most people.

Don't ask a simple stock picking service to manage your portfolio

I don't!Managing my ( or anyone's ) investment portfolio is a bit larger than TMF's pick service. How much in stocks/bonds/cash/gold/RE/International/etc, is MY call. How aggresive to be is MY call, reflected in which newsletters I choose to buy picks from and/or how I mix ( %-wise ) picks from the various newsletters....and which picks to buy or not...is MY call.

If I'm 75 and focused on income, I'll be playing a lot more in Mathew Emmert's II pond than RB, for example....MY call, not TMF's. Within that pond, however, if I didn't have the time or refused to do any DD/FA of my on, I would trust their judgements ( having examined their equity picking criteria ) before those of any full-service brokerage house.

In sum, I agree that for me, TMF is like a delighful buffet....I get to pick which delicious foods I want. My only point is that it is really tough for any restaurant to make too many dishes WELL.

Best regards,

Murph



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