Thanks for feedback on the subscription idea thus far
Received an avalanche of emails so I can not respond to them all, but was nice to see a lot of faces (virtual) - I think 80% of emails I had never heard from before. No consensus on anything with so many opinions but what is interesting is to hear how differently people use the website - complete night and day based on each person.
For the short term the "tip jar" idea is a good one - I'll look to put one up by next week; then good hearted souls can contribute that way. What I will say is if there is a subscription model down the road, I will offset any "donation" to tip jar and put it towards subscription if that route is chosen.
I am still up in the air on direction - there are pros and cons to any change so weighing things out. Still gathering intelligence so feel free to continue to send me emails or comments to yesterday's posts. I got so many responses I will need to sit down this weekend and really read through them - only about 50% through what I got last night.
I would also like to in the next few weeks find a way to do a survey of investor experience, type of investor, your typical holdings (I only own mutual funds, I hate mutual funds and only own stocks etc) and how you use the site (for macro economics, for stock market daily updates, for stock selections) etc. It would help me figure out who dominates the audience.
Again thanks for all the responses; love to hear the feedback from everyone.
Thursday, February 26, 2009
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3 comments:
Tough to charge for stock ideas when there are a ton of places to get daily trading ideas for free (i.e., stocktwits, FastMoney, briefing.com on Yahoo Finance, IBD, screens, etc.). Unfortunately (for your model), traders are willing to give ideas away for free because there's an obvious benefit to convincing others to follow your trades. But I look forward to see how you resolve the dilemma.
You should really just start your own hedge fund ...
Anon, find me a few hedge fund investors and I'm ready to go ;)
Don't do a hedge fund. Us little guys want to invest in someone we can trust, too. Why not set up the "hedge fund style strategy without the hedge fund" like Andrew Horowitz at The Disciplined Investor. You can manage peoples money charge 2% and just trade their accounts for them. You would have the freedom to buy and short stocks like a hedge fund without all the rules and regulations of a mutual fund. You also are not limited to millionares as investors. You could probably start tomorrow.
Greg
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