Question
I have been buying shares instead of funds as I was fed up paying for someone to loose my money. I am thinking of paying the £10 a money for Midas Extra, do you think this would be a good investment.Answer
For those readers who don't know, Midas Extra is the share tipping service run by the Financial Mail on Sunday. It tends to focus on investing in small to very small companies, where the potential rewards can be high but then so can the losses.
Is it worthwhile?
The tips seem to be provided by seasoned, knowledgeable journalists. But being human they won't get it right all the time. Like any share tipping service there'll probably be a handful of spectacular successes and failures, with a wide range of winners and losers in between.
If you're happy to take a punt with a relatively small proportion of your overall portfolio and invest some time reading the information, then by all means try it out. But I certainly wouldn't recommend making potentially speculative investments like this with money you couldn't comfortably write off if it goes wrong. After all, if a share tipster really is that good at picking winners every time I doubt they'd need to continue writing share tips for a living!
Before taking out a subscription perhaps read the Midas column in the Mail on Sunday, along with something like Investors Chronicle (if you don't already) for a few months while making some pretend 'paper' investments based on what you read. Tracking their success or failure should give you a good feel for the risks involved and whether it's a style of investing you'll be comfortable with.
If you do subsequently invest real money I'd treat it as a fun, educational hobby that might make you a mint if you're lucky.
I have been buying shares instead of funds as I was fed up paying for someone to loose my money. I am thinking of paying the £10 a money for Midas Extra, do you think this would be a good investment.Answer
For those readers who don't know, Midas Extra is the share tipping service run by the Financial Mail on Sunday. It tends to focus on investing in small to very small companies, where the potential rewards can be high but then so can the losses.
Is it worthwhile?
The tips seem to be provided by seasoned, knowledgeable journalists. But being human they won't get it right all the time. Like any share tipping service there'll probably be a handful of spectacular successes and failures, with a wide range of winners and losers in between.
If you're happy to take a punt with a relatively small proportion of your overall portfolio and invest some time reading the information, then by all means try it out. But I certainly wouldn't recommend making potentially speculative investments like this with money you couldn't comfortably write off if it goes wrong. After all, if a share tipster really is that good at picking winners every time I doubt they'd need to continue writing share tips for a living!
Before taking out a subscription perhaps read the Midas column in the Mail on Sunday, along with something like Investors Chronicle (if you don't already) for a few months while making some pretend 'paper' investments based on what you read. Tracking their success or failure should give you a good feel for the risks involved and whether it's a style of investing you'll be comfortable with.
If you do subsequently invest real money I'd treat it as a fun, educational hobby that might make you a mint if you're lucky.
Read this Q and A at http://www.candidmoney.com/askjustin/852/should-i-subscribe-to-midas-extra
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