As a private investor, investing without the guidance of an investment adviser, I rely heavily upon unbiased testimonials and reviews from other investors. Thanks to the World Wide Web, these first-hand accounts are readily available for me, at my leisure. For investment-seekers, like myself, the internet provides an environment where investors can ask questions and listen as others share their investing information and experience. For this, I am very grateful.
Albeit it is a helpful resource, investors do need to be cautious of the information they find on the Web. Some articles and posts are created with the intention of misleading the people who read it. I found a recent example in an article about Davenport Laroche. In this instance, a financial adviser named Alexis Assadi made a poor judgement on investing in containers, and those who took his advice are now angry about his misinformation.
If we learn anything from that example, it is that we all need to be careful when giving and taking investing advice. If the advice given is based purely upon speculation or opinion, as it seems it was with the Alexis Assadi article about Davenport Laroche, investors are left on their own to determine fact from fiction. This is where an investment strategy moves from investing to gambling.
There is no substitute for investment research and there is no definitive, fail-proof way of finding investment opportunities. The internet offers a lot of information, and is an invaluable resource, but should not override common sense or intuition. There is not a single investment adviser or money manager whose word can be taken as gospel, and can deliver on promises of untold riches.
It certainly is a blessing to have so many people to collect information from, but investment-seekers need to take other investors’ personal advice lightly. Use the investment advice you receive as a direction for your research strategy, not your investing strategy.