Rule #1 Finance Blog

With Investor Phil Town

FARMING WITH A TRACTOR

I get asked sometimes, like in this letter below, if my book is going to show you how to do this investing stuff… but only if you buy the tools to make sense out of it. 

Come on, I wouldn’t do that to you guys. 

My book is going to show you how to invest using free tools. I really want everyone to be able to do this without going for a specific set of tools, ya know.

Like, here’s how you change the tire, and I don’t care if you have a
hydraulic nut remover or have to do it by hand. 

So in the book I refer
you to MSN Money and Yahoo Finance.  Although I don’t use E-trade’s
tools
, they are probably similar to MSN’s and sufficient to get the job
done.   Just like farming – you can do it free with a stick or you can
buy a tractor.  But if I’m teaching farming I want to teach it so you
can do it no matter what kind of tools you are using.

Success/Investools toolset just makes it easier and faster — not a small
thing.  In addition, they have a really wonderful toolset for doing
searches, and their database is the biggest by far.  Far bigger than
E-trade or MSN.  That means we get to see everything, not just some
things.  It’s well worth the investment if you have the money. 

If you
don’t have it, they you make up for it with a little sweat equity,
right?  No big deal.  Just takes a little more time.  The main thing is
that you are doing it.  You are stepping into the 21st century – the
century of the individual taking control of all the aspects of our
lives … especially our financial lives.

Now go play!  And don’t forget The Rule.

From Patrick T. on October 26:

Hello Mr. Town,

I enjoyed listening to your speech at the Richmond Coliseum on
Wednesday. I have been investing in the market for about 6 months and
have neither gained nor lost any money as of yet. I have been using E-Trade as my
on-line brokerage company and have been planning on following the
long-term strategy. After listening to you, I have become convinced
this is a mistake and am going to read as much of your writings as
possible.

The book you have coming out in March, will it be advising investers on
Rule One investing using the tools on Success Magazine’s Website or will
it be applicable to the tools on E-Trade or other such websites as
well? E-Trade it seems has all the same information, just organized in a
different way. Any Comments?

I plan on attending the workshop (no downside I guess since it has a
guarantee) but would like your opinion on its (Success’ InvestorTools)
strengths in research capabilities versus E-Trade.

Patrick T.