My impression is that most investment clubs enjoy the
stock selection aspect of operating an investment club
and would not be interested in the opinion of someone
who offers professional advice. My opinion is that those
who use options find that to be an even more enjoyable
activity.
The question is: Would you be interested in hearing that
advice if it were available at no cost? If you listen
to the advice, you don't have to take it, so why not
listen?
Studies have shown that investors simply are not
interested. The fact that it's free doesn't make any
difference. I recently blogged about
free
investment advice.
The vast majority (95%) rejected the advice outright. I
found that to be an amazing statistic. But even more
surprising was that 'very few' of those who listened to
the advice accepted it. Most people either don't trust
advice (and I don't blame them) or they prefer to do it
all themselves.
The one point of the study that proved to be of most
interest to me, is that those who accepted the advice
(and it turned out to be good) were older, wealthier,
and longer-term customers of their broker.
Mark D Wolfinger
Expiring Monthly: The Option Traders Journal
http://www.expiringmonthly.com/