jay1051971's Full Review: SmartMoney Magazine Subscription
Being a person who strongly believes in individual freedom and personal responsibility, matters of finance and investing are of great interest to me. It is of such great interest, that I am often accused of evangelizing to my co-workers and other acquaintances the merits of having a sound savings plan. Indeed, even as an economics professor, when I teaching from textbooks that downplay the importance of savings to push the absurd notion that the road to prosperity is to spend, spend, spend, I am constantly advising my students the importance of economic prudence. After all, who really expects (or wants) Social Security when they are older?
So it should not come as a shock when I say I like to read investing magazines. Years ago, I was an avid reader of Mutual Funds magazine. It was a great magazine that was very informative and educational. However, it’s narrow focus lead to it being a bit redundant after a while. I subscribed to it for a couple of years, before letting it run out. Recently, I was saddened to hear that the publication closed up for good, citing the downturn in the stock market, and reduced interest in that investment vehicle. I also subscribed to Worth magazine for a while, until it became less about investing, and more about the lifestyles of the rich and successful.
Next, I moved on to Kiplinger’s Personal Finance, which I started subscribing to more or less by accident. I began a subscription to a recent start-up, Individual Investor, which was all about stock investing. Not quite my bag, but it was a decent magazine. Following Mutual Funds, it too closed up shop in short order. Kiplinger’s was the replacement to satisfy my subscription obligation. That magazine has become my favorite magazine, with its well-rounded, educational content that is appropriate for a broad audience.
Looking to expand my access to practical investment wisdom, I recently took up an offer to subscribe to Smart Money magazine. I just received my third issue, February 2004, and so far I’m able to report that it’s a decent magazine aimed at moderately sophisticated investors. Its main coverage is on individual stocks, but provides information about bonds, mutual funds, real estate, and other vehicles as well. It is published monthly by Dow Jones & Co (publisher of The Wall Street Journal), and Hearst Publications.
Like most magazines, Smart Money has main features and regular departments. The Features section has in-depth articles on what’s currently hot in the world of business and investing. For instance, the cover story to the February issue is 㥶 Great Funds for the Long Haul”. Taking off from the recent mutual fund scandals, the magazine explores some of the reputable mutual fund families, and specific funds, that are still worth patronizing. Another main article called, “Lame and Getting Lamer” takes a look at the performance of the fund families that were named in recent scandals, demonstrating that many were not doing all that well anyway. Other feature articles from past issues include such topics as “Where to Invest in 2004” (a prediction of this years hot stocks), “Are You Ready for Some HDTV” (a look at the increasing affordability of cutting edge technology), “What’s Next for Home Prices”, (real estate concerns), “Back to the Future”, (a look at the telecom sector), and “When to Sell A Fund”, (practical advice about shedding some assets).
The regular departments and columns are broken up into a few different categories. Street Smart provides columns about specific sectors of the market. One column is called Contrarian, which makes a case for adding out of favor companies to one’s portfolio. Two other columns, Fund Watch and Bond Watch provide the latest in those markets. Other columns may provide an outlook on the economy and prudent investment strategies to consider.
Columnists is a section that feature regular commentaries by investment gurus, such as James B. Stewart, Roger Lowenstein, Joe Queenan, and Paul Strom. They write about whatever what’s on their mind at the time; hot and cold companies, the political environment, market conditions, and so on. In Every Issue has your typical mish-mash of miscellany, such as letters to the editor, and a “Ten Things” column about things you will not be told by providers of certain services. And finally, Departments has articles of practical use, helping the reader to make better judgments at work, shopping, traveling, and such. A smarter consumer is a more secure consumer!
Overall:
Smart Money is a good magazine that is suitable for those people who have a certain level of sophistication when it comes to personal finance. Although I would not recommend this for beginners, it does provide a lot of value. It is loaded with content, even though the advertising takes up about half the book. My one-year subscription cost about $12. This is pretty solid discount from the cover price of $3.50 ($4.50 Canadian). I’m not sure if I will renew my subscription at year’s end, as there tends to be a lot of overlap with Kiplinger’s, which I view as the best personal finance magazine available. It is a little too focused on stocks, but if that’s your bag, then Smart Money will be a good choice. I am more of a mutual funds person, so much of the coverage in this magazine is of passing interest to me. I give this magazine three and two-fifths stars.
12 issues - SmartMoney Magazine presents practical, yet highly imaginative strategies for investing, spending and saving. Reporting on a wide range of...More at SuperMagDeals.com
12 issues - SmartMoney Magazine presents practical, yet highly imaginative strategies for investing, spending and saving. Reporting on a wide range of...More at Subscription Addiction
SmartMoney magazine features spending and investing advice from the Wall Street Journal. Find articles on personal finance, lifestyle, business, techn...More at Magazines.com
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