Q&A: Sources of information

Question: I retired from a bank after 30+ years so I do have investment knowledge however a lot of it is just with that particular bank’s products. I’d like a direction to go, i.e. books, sites, whatever in order to understand investing in companies. What and where to look for information to see if said investment is good for me. I do deal with the bank’s full service brokerage but when they make a suggestion to invest, I’d like to do some research myself. – J.S.

Gordon’s answer: There are so many sources of information available that it is hard to know where to begin. The bookstore and library shelves are filled with books on how to invest in stocks. The problem is choosing the best ones. There are a couple that I can recommend, however. For the basics of value investing, which to me is the best way to choose stocks, you have to read The Intelligent Investor by Benjamin Graham. It’s a classic. For a modern-day approach to stock selection, and a terrific read as a bonus, get a copy of One Up on Wall Street by Peter Lynch. It’s packed with great anecdotes and a lot of common-sense advice.

You may also want to subscribe to a newsletter to provide on-going guince and ideas from professionals. Again, there are many but I suggest you choose one that is based in Canada. That way, you’ll receive information on both Canadian and U.S. markets and the tax information will be relevant. I publish a weekly letter that was named one of the top five in Canada by The Globe and Mail. It’s called the Internet Wealth Builder and you can get more information about it and order a three-month trial subscription at www.buildingwealth.ca/promotion/50plusproducts.htm

Do you have a money question you’d like to ask Gordon Pape? E-mail it to [email protected] and then check our website every week to see if it was chosen for a response. Sorry, we cannot send personal answers.