Featured "You're not really going to only rely on the firm's research, are you?"
It was 1966. I (Marc Chaikin) had just landed a position as a broker on Wall Street. And at the time, I really did think my own firm's research would be more than enough for me and my clients.
But then, a member of the "old guard" pulled me aside to tell me different...
"Listen, you'll have to learn this on your own. But there's someone I think you should know about."
It might sound like a random piece of advice. But it was actually a life-changing introduction. And it completely transformed my approach to helping investors.
Let me explain...
It started when my colleague introduced me to George Chestnutt's financial writing. I'm guessing you haven't heard of Chestnutt. But his work was pioneering at the time.
He used math to find the strongest industry groups – and the strongest stocks in those groups.
That made Chestnutt an outsider for sure. Back then, nearly everyone was looking at a smattering of fundamentals. Then, they'd assemble an interesting story around those few bullet points, and that was it.
The best storytellers turned out to be talented brokers. That is, they were talented at getting their clients to buy.
Great for them... not so great for their clients.
The day of that conversation, I realized my mentor was right. I needed more than just stories.
My clients deserved better. Not only that... to be able to really sell, I knew I'd need to have data to back up my claims.
So I did the most reasonable thing... I signed up for Chestnutt's newsletter service.
Chestnutt's work was my way of accessing the best data available at the time. And I knew that I wanted the best data available on my side.
Here's the thing, though. To get the best data, you need to go the extra mile...
Chestnutt was a bit out there compared with most analysts at the time. The guy spent his time meticulously tracking the major industries trading on Wall Street. He did a lot of it by hand. And he did the rest with early calculators.
Those of us who were around back then know that was a monumental task. You'd have to be a little crazy to even pursue it.
I didn't realize where I was headed, back in the '60s – not at first. But once I looked outside my own firm, I started to follow Chestnutt's path. My life's work became collecting data, parsing it, and using it to make evidence-based investing decisions.
I've been very fortunate and successful at it.
Bloomberg built my systems into its world-famous trading terminals. And its main competitor Refinitiv (previously Thomson Reuters) did, too.
I made finding the best data my life's goal. And just as important, I wanted to help folks by performing the best analysis on it.
I've found it deeply rewarding. And I'm passionate about sharing it. That's because the best data gives you an edge as an investor that nothing else can.
I saw firsthand exactly how important this was after the financial crisis in 2008...
I saw the little guy get creamed by Wall Street. So my focus shifted yet again.
I developed a set of tools for individual investors. They're specifically designed to turn trading and investing into a fair fight for people who aren't Wall Street elites.
Together, this set of tools is called the Power Gauge. And as regular PowerFeed readers know, I've poured everything I've learned over my more than 50 years in finance into it.
And the thing is... I'm seeing something big in the data today. In fact, it's the kind of market event that has a nasty habit of catching individual investors off guard.
So now, more than ever... you need good data. It's essential in today's market conditions.
Last week, the Federal Reserve met to discuss interest rates. And the long-awaited rate cut finally came. Unfortunately, the market implications surrounding a cut are anything but simple.
During my special event, I'll discuss the ramifications of the Fed decision. And I'll cover the exact moves you should take with your money to position yourself for the extreme domino effect that looks poised to trigger from the Fed meeting.
Put simply, I don't want you to be blindsided by something that could wreck your wealth before this year ends.
If you missed it, you can watch the replay right here.
Good investing,
Marc Chaikin