My Favorite Investing Resources That I Check Every Day
One of the best things about living in the digital age is the fact that almost everyone has an unlimited source of information available at all times.
The internet has been a game-changer for investing resources, enabling people like you and me, to learn everything there is to know about investing all without ever leaving their house.
Of course, the internet is a wild place, and, in order to get the best information, you have to go to the right sites.
I’ve made a list of 9 sites that I like to check every day. If you are looking for some great new websites that will help make you a better investor, consider checking these out…
1. The Wall Street Journal
For decades, investors have turned to the Wall Street Journal for the latest investing news. Today, though, all of that great information can be found each day on the Wall Street Journal’s website.
I like to check out the front page of their site because it gives me a great bird’s eye view of the major things happening in finance.
2. Read 10K and 10Q Reports
All publicly-traded companies are required to submit 10K and 10Q reports to the SEC, and you can find them all online.
10Q and 10K reports are treasure troves of information, and if you want to learn more about a specific company, these reports are the place to look.
Before I ever consider investing in a company, I try to read 10 years of 10Ks or even all of them. But be warned though; 10K and 10Q reports do tend to be a little dense and dry.
When my wife, Melissa, is having trouble sleeping at night, reading a few paragraphs of these reports to her always seems to do the trick.
Google is an all-star when it comes to investing and let me tell you why. If there’s a company on your watchlist that you want to stay updated on, search the company name on Google and read everything you can find – the good and the bad.
If you’re thinking about investing in a company, Google it. Find out what people are saying about it. Find out what they think of it. You don’t have to rely on your gut for this stuff anymore.
Companies can’t hide ANYTHING from Google, which is GREAT for you.
4. Yahoo Finance
Yahoo Finance publishes a large number of news articles, more importantly, though, Yahoo Finance contains a wealth of historical data on almost all publicly traded companies.
Because of this, you can easily find the data you need in order to make the right investing calculations.
If you want to stay up-to-date on the latest news and current events pertaining to the stock market, Barrons is a website that is well worth checking out.
Every day, Barrons publishes dozens of timely and informative articles covering a wide range of companies and current events. It’s a lot like the Wall Street Journal in that it’s a good place to go to skim the homepage every day.
6. Financial Reports
Financial reports are similar to 10K and 10Q reports in that all publicly traded companies are required to produce them each quarter.
We use financial reports for our Rule #1 calculations so they’re good to have in mind.
GuruFocus a great place to go when you want to see what other investors are buying. You can use it to do something we like to call “Coat tailing” where you can see what other Rule #1 type investors are buying.
Then you can research those companies yourself.
8. The New York Times
A lot of things affect the stock market – from politics to foreign affairs to current events – and it’s essential for investors to stay updated on these things.
You know how sometimes you see an article in the Times and think, “Boy, this event is going to put a lot of companies in this industry on sale.”
9. Rule #1 Toolbox
If there is a company on your watchlist that you want to research in-depth, the Rule #1 Toolbox is the place to go.
I’ve actually put a lot of this stuff I’ve mentioned in the Toolbox for you so you don’t have to go to a bunch of different places.
I may be biased, but this toolbox is one of the most effective online resources available for gauging a company’s investment potential, and I use it every single day.
Here’s the bottom line here. Read as much as you can about the companies you’re looking at.
Make sure you understand companies you’re investing in. If the company is too complicated to understand, put it in the too-hard box. The more you read, the more comfortable you’ll be with investing. Not to mention, reading keeps your mind sharp.
Warren Buffett reads 500 pages a day and he’s 88 and sharp as a tack. Trust me, the more you read, the better investor you’ll be.
via Investing Resources to Check Every Day | Rule #1 Investing