They can cost as little as $40 and as much as $450. And they do not hesitate to air their opinions.Ĭurrently, Americans buy about 500,000 subscriptions to investment newsletters. In calculating the performance of a newsletter, he sticks quite literally to the advice given - avoiding any temptation to insert his own ideas.Įven so, this effort does not free Hulbert from criticism by newsletter editors who feel they've been treated unfairly or that their advice has been misinterpreted. His subscriptions to the newsletters he monitors cost $15,000 to $20,000 a year. And he tries to ensure that the game is not tilted. Yet, he retains a journalist's detachment, viewing himself as more of a scorekeeper than a player in the investment game. His views are regularly chronicled in leading investment publications and he is a sought-after speaker on the investment seminar circuit. The digest also has given Hulbert considerable influence in the investment community. It costs $135 a year, but many new subscribers pay $67 to get started. Today, Hulbert's newsletter has 15,000 subscribers and produces annual revenue of $600,000. In 1980, he and a couple of friends got the idea for the digest, rounded up some subscribers and began monitoring three dozen investment newsletters. When he returned from England, he settled in Washington, working as a free-lance writer. Hulbert, who grew up in Kansas, worked in Congress and found his way to Oxford University where he earned a master's degree in philosophy. Reading and analyzing 125 newsletters can keep him at the computer in his third-floor office late into the night. Hulbert publishes the digest out of his town house on Capitol Hill, where he lives and works. The man with the answers to these questions is Mark Hulbert, the 32-year-old editor of The Hulbert Financial Digest, a newsletter that monitors the performance of 125 of the nation's approximately 300 investment newsletters. But what can you say about the advice in an investment newsletter that costs you $150 or $200 a year or more? Is it worth what you're paying? And if you follow the advice, will you make money or lose money? If the advice isn't worth much, at least it didn't cost anything. Free advice, they say, is worth what you pay for it.
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