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Quick Poll For The Best Readers in Cyberspace
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UPDATE: I’ve taken down the poll after getting a good representative sampling, but if you have comments or an opinion to share on this I’d still be happy to hear it, just add your comment to this post.
Hi folks. I’ve gotten some interest in setting up the Stock Gumshoe as a paid (but low cost) email/web newsletter.
I have no plans to do so yet, but I want to explore my options. To pre-answer one question: Several of you have donated amounts similar to what a subscription price might be, and you of course would be grandfathered in to a subscription if I do make a transition.
But for the rest of you, I’d like a few seconds of your time if you don’t mind telling me whether or not you would be willing to pay for a Stock Gumshoe newsletter that’s built on the same basic principles as this free website has been. There’s a poll at the top right of the page that I’ll leave up to collect these results until I get a good sampling.
A subscription service would likely consist of something like the following: An in-depth weekly newsletter talking about the recommendations/touts of one ad or email, sort of a deeper version of what I’ve been doing a few times a week until now; and, in all likelihood, a more robust password-protected website with tracking of newsletter teaser performance and probably some additional features.
I might even talk to some of these newsletter folks and publish some interviews, though I’m sure not all of them would be willing to talk to me, and I’d still try to answer reader questions as best I can (considering, as always, that I’m not an investment adviser). Essentially, it would be a more thoughtful and deeper analysis of newsletter picks and the investment newsletter business, but would not cover quite as many of them in any given week as I do now.
And of course, if you think this is a just plain awful idea feel free to comment — I’m far from decided, and nothing’s going to happen immediately, but I would like to consider options that allow me to devote more time to this endeavor.
Thanks for your time, and your opinion, and for being wonderful readers — I appreciate you all,
SG
Click Here and enter the ticker for your free Trend Analysis of this or any other stock, ETF or commodity, courtesy of INO.com (one of my advertisers) — after entering one symbol, they’ll send you info about adding your whole portfolio to the system so you can track the trends, (this is all free — and they’ve also got a free 10-session “boot camp” trading course available by email if you want to check it out).
The author will always disclose any direct long or short equity, debt or option position in any stocks written about as of the day of publication, and will not trade in any stocks mentioned for three days (72 hours) after publication. Full disclaimer is at the bottom of the page.
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28 comments for “Quick Poll For The Best Readers in Cyberspace”
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I would probably pass on a subscription site. I browse the site on a monthly basis and have found some information helpful, but due to the amount of financial blogs available, I would probably just this blog fall through the cracks. Don’t take this as an insult, Do what you do when you do what you do.
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I would be willing to consider a subscription to a Gumshoe newsletter.
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Thanks folks — believe me, I won’t take any comments personally (well, unless you tell me my hair is receding too quickly). Just trying to get a sense of how to build on this site most effectively, and any comments (or other ideas) are very welcome and encouraged.
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I really appreciate the work you have done so far and think that is only fair that you get compensated for it. I would be willing to pay for a fee as long as is reasonably priced.
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I’ve already signed up for the Paypal $4.50 subscription, as I feel that you’re providing useful information that would be expensive to uncover on my own. I’m already up several hundred dollars on two stocks I bought after finding them mentioned in the Gumshoe, and researching them further.
So paying a small amount to improve the depth and breadth of your fine work seems like a no-brainer to me, although the poll results so far seem to indicate I’m in the minority.
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I doubt I would pay for the service … as a matter of fact, if you do decide to go the subscription route, you would vacate a niche that would likely be filled by another who would find a way to monetize the site without a subscription fee, perhaps even tempting a lurker like me to give it a shot.
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I thought the whole philosophy behind this site was to avoid paying subscriptions and to share ideas freely. Solving the teasers doesn’t necessarily make the recommendations great investments.
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–Don’t sell out and charge a price. What you are slowly earning as more people are visiting your site is RESPECT to beat the vultures at their game and that can not be bought. Eventually you can make money selling advertising space to sites like bigcharts.com, scottrade, etc. I personally don’t believe guys who visit this site are super rich. We are just trying to get that way. Maybe we can have a contest. If one of us ever hits it BIG in any stock we find, we can take care of you. Anyway, what’s up on Robert Hsu’s letters. A few of his reccomendations are kicking ass this past week (ACH, CHL, SNP, etc.)
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i concur with all those who said they would pass on subscription and I also understand the need for you to want to be compensated. I enjoy reading the sleuths once in a while but I would not trade based on them anyhow. I hope you will stay as a free service but if not I would understand as well.
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psiI dont know the total number of your readers, but I think you could make more money by encouraging advertising on your site. They have more money.
I think you would lose luster by interviewing. I also think your site would benefit by articles on investing and trading from the professional world. Most blogs lack insight.GI
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Thanks again for all the comments, folks, I appreciate the opinions, ideas and concerns. I’ll be taking the poll down later this afternoon because it looks like I’m already getting a pretty good sampling of your opinions.
And I just want to comment briefly on one of the notes to clarify my personal opinion. The whole idea of this site is indeed to call attention to some of the more misleading advertising of investment newsletters and help people to make more informed decisions instead of emotional ones based on appealing email ads — but that doesn’t mean I believe newsletters are all bad, or that I think everyone should avoid subscribing to newsletters or paying for good research and ideas altogether. I have subscribed to newsletters in the past that I found valuable.
Just my opinion, of course, for what it’s worth.
Thanks again
SG
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may be a blog should be free, but your “research” saves me a lot of time if i don’t do it myself, and does lessen the emotioneal urges. thanks!
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I would pay for a subscription.
As a new investor I find the Gumshoe invaluable in highlighting potential investments.
It is a huge breath of fresh air among the unending torrent of stuffy financial information out there. For a new investor, it is information overload. I need something that is going to teach me, guide me and do it in a fun way. The GS does all these, superbly.
Here’s a very very simple for instance…I had no idea that Yahoo provided such a great tool to track my investments. I was using msn and its outdated interface. I found out about Yahoo at the Gumshoe site, from an investors comment. I know it probably means very little to most of you but to a new guy, that knowledge was gold. Its a very simple example but one of 100s of tips and help I have received from the GS.
As a new investor I was about to subscribe to one of the paid newsletters, but while attempting to Google the contents of a free Fool.com newsletter, I came across the GS site – thankfully. That saved me a huge amount of money. These investment letters are not cheap and a lot of new/small investors like myself get roped into them.
I think the GS does a fantastic job and I appreciate the work he does.
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OK Mike, you’re my new best friend! Thanks for the kind comments, I’m glad the community and content here was helpful to you.
SG
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What a great question. This gives me a chance to use my MBA, which I got at a west coast diploma factory back in 1978.
My sense is that continuing the gumshoe site freely, whilst maintaining ADS that are marked and clearly separate from the text, is the best approach to continue the gumshoe as a going concern into the indefinite future.
The gumshoe is self-filtering for wisdom as it is. An investing subscription service attracts those who PAY for GOSSIP, which is not the critical, essential gumshoe audience (which I perceive as buckaneer individual investors who’ve been burned by a skunky subscription or two).
A paid service is NOT going to be able to eliminate come-ons and advertisements (example: the Oxford Club).
As it is, the gumshoe has credibility that is equalled or surpassed by exactly one subscription service — the Value Line Investment Survey. The free subscribers have filtered themselves for credibility and rationality. This site isn’t broke. Please don’t fix it.
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I would pass on the link since I do not buy any of the listing. In fact it’s a fun page to go just to see the creative writing by some companies.
After a month or so, I learned to ignore the ads/
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Thanks for the well-considered comment … but now I need to know what an “urban coyotes founder” does. Now THAT’S a teaser.
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hello SG! I truly enjoy your blogs, but I agree with the comment that suggested it would be better for you to get advertising over creating a subscription based newsletter. Do you really want the hassle / responsibility of being “obligated” to produce blogs periodically? If you choose that path, then people will expect and demand updates and sleuths (pay = entitlement).
Also,even though you always make a point of reminding everyone that you are not a financial adviser, I think many people out there might want to hold you to your recommendations or portfolio choices once you begin charging…..
Just a couple of thoughts… either way, I think you are doing a great job and I appreciate all the info!
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I do appreciate your work but will not be able to afford a subscription right now. I have been cutting back on everything and every penny helps when depending on Soc Sec. I think you deserve to be paid however and will fully understand if you start a subscription service. Thanks.
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I think you are better off leaving your site as a freebee, and encouraging voluntary donations. As someone wrote, you are earning much respect for what you are doing, and part of this respect comes from NOT charging a fee. I am sure you are also having fun, even if it does take a lot of time and effort.
I haven’t yet contributed, but expect to.
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i doubt it would fly as a pay site, it’s interesting and fun but who really invests in teasers from such blow hards as Motley Fool anyway?
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There is a Yahoo group (Newsletter Exchange, sorry it’s closed) that, just as it’s name states, has it’s members post newsletters that they subscribe to as a means to foster the interchange of stock ideas. It’s interesting reading, but only a fool would commit their hard earned money without a strong dose of their own due diligence. This applies to any investment no matter where the recommendation came from.
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Only if you send out teaser emails about the Stock Gumshoe newsletter
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I enjoy reading your site and believe you should be fairly compensated for your excellent work, however I probably wouldn’t subscribe because there is already more good free stuff out there than I have time to read.
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I sent you just a few dollars a week or two ago. I consider SG excellent entertainment but not investment guideance. I think the people who said ‘wait and seek advertising to Big Charts etc’ have the best idea. You would make money with them. I comend you for exposing these teasers, you have a talent, but I am not likely to pay a subscription.
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As soon as I graduate and get a stable income I’ll donate some money.
As it is I’d rather give to The Nature Conservancy and Wikipedia.
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I usually check out the Gumshoe several times a month…usually to get insight on what the folks at Taipan are talking about with their teasers…about a subscription? I am a firm believer that a man should be paid for his work, even if he enjoys it., the bills have to be paid ykno.
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I JUST FUND YOUR SITE AFTER BEING BOMBARDED WITH ALL KINDS OF SNAKE OIL STOCK OFFERS AND NEWSLETTERS
WHAT A GREAT PLACE THIS IS AND YES PAYING FOR GOOD REPORTING AND FAIR STOCK NEWS IS WORTH SOMETHING, LIKE A PBS STATION WE GIVE TO; THIS TOO GETS A CONTRIBUTION. HOW MUCH? WELL $4.50 IS NOT MUCH IN TODAYS WORLD, A STARBUCKS LATTE OR 1.3 GAL OF FUEL
COST ALMOST THAT MUCH.
ADVERTS. MAY PAY THE BILLS TOO, BUT, DO YOU GET TO EXPLORE THE SPONSOR WITH OBJECTIVITY OR ARE YOU PRECEIVED TO SOFTEN THE ‘HARD LOOK’ ON THEM.
TRUST IS HARD TO WIN AND QUICK TO DEPART EVEN IF UNFAIR ASSUMPTIONS ARE MADE.
REGARDS AND THANKS
WALTER
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