Main Street, Not Wall Street: Investing Close to Home-The Smart Way to Make More Money

Overview

Using real-life examples, Rubino shows that when tomorrow's companies are born, their neighbors notice them first; local papers cover them and local brokers recommend their stocks. His step-by-step formula shows you how to turn what you see and what you hear into sound investment strategies. Main Street, Not Wall Street offers valuable tips on networking with locals in the know, finding and working with a local broker, evaluating the local journals, and using the Internet to research new markets. Rubino outlines ...
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Overview

Using real-life examples, Rubino shows that when tomorrow's companies are born, their neighbors notice them first; local papers cover them and local brokers recommend their stocks. His step-by-step formula shows you how to turn what you see and what you hear into sound investment strategies. Main Street, Not Wall Street offers valuable tips on networking with locals in the know, finding and working with a local broker, evaluating the local journals, and using the Internet to research new markets. Rubino outlines a definitive system for creating and managing a portfolio of emerging local companies to keep you in the game - and winning.
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What People Are Saying

Michael O'Higgins
"The next Bull Market will belong to small stocks. In Main Street, Not Wall Street, John Rubino shows how to ride it to the max." -- author of Beating the Dow
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Product Details

  • ISBN-13: 9781402844713
  • Publisher: HarperCollins Publishers
  • Publication date: 3/1/1998
  • Edition description: First Edition
  • Edition number: 1
  • Pages: 285

Meet the Author

John Rubino spent most of the 1980s on Wall Street as an equity analyst, a bond analyst, and a currency trader before he moved to Richmond, Virginia, and opened his eyes to investment opportunities in his own backyard. A frequent contributor to "Your Money,"Rubino writes a column on local investing for Virginia Business, is the stock columnist for POV Magazine, and publishes a newsletter, "The Main Street Report," with a corresponding website at www.msrpt.com

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Read an Excerpt

A Local Company Life Cycle

For proof that local sources give you and advantage over Wall Street, simply take a successful company and look at the information that was available on it during its rise. You're likely to find that the company was the subject of frequent articles in its local paper and aggressive coverage by nearby brokerage house long before it made a splash nationally.

I recently spent an afternoon rooting through the archives of one such company (whose public relations staff had the foresight to save every press clipping and brokerage house report published on it since its inception). The result is something every individual investor should see.

Market corp. is a specialty insurance company headquartered in Richmond, Virginia. A decade ago it hit on the idea of focusing on small, narrow, hard-to-insure niches like racehorses and karate studios. By studying the risks involved in these businesses, it's able to price its insurance more accurately than fill-line competitors. More accurate pricing means fewer underwriting losses and a more predictable profit. Not to mention, the company is quick to point out the satisfaction of serving clients who normally have trouble buying insurance.

This strategy has worked beautifully: Since 1990, Markel's premium income has grown steadily. Its stock price, meanwhile rose tenfold between 1990 and 1996.

But besides its obvious success, Markel is an unusually good example of local advantage for several reasons. First, the insurance business bores most people. So, without a compelling "hook," national publications seldom feature small insurance companies from the hinterlands.

Second, theinsurance industry is already dominated by an array of giants. So mutual funds and other institutional investors already have plenty of familiar, easy-to-trade choices if they decide to move money into this sector. Small newcomers - even those with good stories - have a hard time getting noticed.

Third, because insurance companies make most of their money by investing policyholder premiums, they tend to have massive investment portfolios that produce big, unpredictable capital gains. This makes their quarterly income erratic, often producing down earnings year-over-year because the prior year had a big capital gain. So understanding the underlying trends required reading beyond the headlines, which for most of us means access to frequent updates and analyses.

Add it all up, and you get a company that can do big things for a long time before anyone outside the immediate area cares.

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