The problem with investment research
What you don't know is hurting you
We think there's a problem with the investment research space.
In his commencement speech named “This is water”, writer David Foster Wallace told this story:
There are these two young fish swimming along and they happen to meet an older fish swimming the other way, who nods at them and says "Morning, boys. How's the water?" And the two young fish swim on for a bit, and then eventually one of them looks over at the other and goes "What the hell is water?
The point of the story is merely that the most obvious, important realities are often the ones that are hardest to see and talk about."
He spoke about the importance of exercising control over how and what you think, and being aware of what you pay attention to – "because if you cannot exercise this kind of choice in adult life, you will be totally hosed." There are hundreds of investing newsletters and reports out there. But most of them operate in one of two ways:
They focus on “the next big thing” – Hot stocks, trends, what XYZ bought, what ABC thinks, and so on.
They have an axe to grind – They go in-depth into the research, but then sell their own fund or offering.
The problem is that incentives aren't aligned. Investment research is a business at the end of the day, and these newsletters choose the path of growth over value. They know that their subscribers will leave, and they deal with that by increasing the inflow. This makes them resort to novelty, anecdotes, and eye-catching gimmicks. We don't grudge them for it, but if you're a long-term investor like us, most of this isn't in your best interest. Like Wallace said, you're going to be hosed with trivia and news from all sides, and maintaining a clear focus will be incredibly hard.
An alternative for long-term investors
At Market Sentiment, we realize that investment is a long-term endeavor. Real wealth is created in decades, through clear vision and consistent habits. If you are in your 40s or younger, your investment journey is just getting started, and your net worth will multiply in the next 2-3 decades. Maintaining a clear focus in this period is crucial.
There’s a wealth of academic research out there on what really works long term, but this research is often not accessible to individual investors. We want to bring you the best long-term investing ideas and research in an easy-to-understand manner, to keep you on track for your long-term investing plan. Over the last 4 years, we have created over 200 original articles that give you access to thousands of hours of investing research.
We're in this with you for the long run. We want to do everything it takes to bring you the best of investing research. We don't sell other products and we don't pitch the latest stock – subscriptions from readers like you let us keep our research unbiased and long-term focused.
Here’s the deal…
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If you find value in our content and want to delve deeper, this might be the perfect opportunity. But no pressure – your readership, paid or not, is always valued. Free subscribers will continue to get our occasional free article and previews of our deep dives.
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Thanks for all the support, and see you on the other side :)
Disclaimer
This publication’s authors are not licensed investment professionals. Nothing produced under the Market Sentiment brand should be construed as investment advice. Do your own research before investing.