Barefoot Blueprint - Scott Pape?

[stewiejp]

Used to be a big fan, his attitude/strategy of safe, long term investing and wiping off debt has always appealed to me. But once you are past the debt and have made a few investments there doesn't seem to be a lot more to read. his free emails are simply the next day's newspaper articles.

Whilst I'm sure his stock picks are good, safe, long term type shares. Plus the odd "roughie" - his video a while back on his latest gimmick was simply embarrassing. I already have a set of steak knives. Sure $300 a year isn't a lot, but IMO it isn't too hard to find your own good stocks.

 

[MACD]

I agree with the comments above. I tried the subscription for a year. When it came to renew, in January this year I let it expire and will not renew again.

IMO the report is good if you are financially illiterate and have no idea about finances, money and wealth creation / preservation etc. However, if you trade shares, stocks, FX etc and you understand the mechanics of trading and investing and understand that to have money in your account, you need to spend less than you earn, then the Blueprint will not be for you and will be a waste of time.

There is no "magic" or "secret formula" in the blueprint, but rather, simple, everyday common sense advise that is very good if you have no idea about finances. All such advise is also freely available all over the internet!

 

[Happy2be]

I am not a subscriber but I would rather sign up with Scott for a couple of years and be pointed in the right direction than try and learn from the Bulls*** that spues from this "free information" forum.

 

[Value Collector]

Re: Barefoot Blueprint - Scott Pape???

No idea how good his investments are because he never gets into that sort of detail...

.

I am not sure what he has been doing lately, but a couple of years ago i heard him say he was 100% Berkshire Hathaway.

 

[Happy2be]

I'll give credit where credit is due but I have just had word from a friend who is a subscriber and he's about to call it quits because of the 5000+ people all on the facebook page at once. Can you imagine how that would bug you to death with the notifications etc etc and the trying to scroll through hundreds of posts and comments all on one scrolling page, no thanks!
Anyway he tells me that it statrted out ok until the numbers started to swell and then the sh*t talkers moved in and now people are starting to talk non financial related sh*t on a financial based facebook page. He reckons it is a absolute disgrace and should be on a forum like this one where you have different sections of discussion. So folks he's giving it a big NO and cancelling his membership, which is kinda funny cause he was trying to talk me into joining. Not now, no way. His new recommendation is avoid!

 

[Leiothrix]

I am not a subscriber but I would rather sign up with Scott for a couple of years and be pointed in the right direction than try and learn from the Bulls*** that spues from this "free information" forum.

That's fair enough.

The problem is that Barefoot's "right direction" can pretty much be summed up in a paragraph.

It's very simple information, which suits some people, but the bulk of the newsletter is pretty much "pay off debt, save some money, invest for the future". It is good advice, but it doesn't really go past that.

Plus I really don't like the "coming next issue" stuff that he does. Sure he's trying to sell himself, but it gets annoying.

I had a Barefoot subscription and let it expire. I've got a Motley Fool subscription as will and will let that expire too. Are there any good newsletters out there?

 

[nomadic1970]

I had a Barefoot subscription and let it expire. I've got a Motley Fool subscription as will and will let that expire too. Are there any good newsletters out there?

(Un-)fortunately, there are stacks to newsletters out there which you could sub. to. And without knowing what you are looking for would be hard to recommend one, and you might disagree with my choices anyway. But some here to choose from...

Eureka Report - http://www.eurekareport.com.au/
The Bull - http://www.thebull.com.au/
Huntley's (via Morningstar)
[Insert name of broker here]
Marcus Today

 

[Knobby22]

Scott Pape comes across to me as a rich kid who dabbles in shares.

 

[chillax]

Hi, I'm brand new here, hoping for some insights

Re the barefoot investor blueprint, I have been considering it, as a very new investor with minimal knowledge, particularly as it comes with the $500 worth of trades on etrade!

This can be used within 12 months apparently, but does anyone know of other tricks to this? I read in some fine print that "you have to have an ANZ account to use etrade"; however now Bendigo has an arrangement with etrade and you can open bendigo account to procede. Barefoot investor line couldn't qualify this for me, I also got the impression talking to them that maybe you have to be a first time user of etrade to take advantage of this?

So what, even if the trades can be used through a bendigo account - if I have opened an etrade account already I would not be able to use the trades/credits?

Anyone picked up on this?

Cheers,

Chillax.

 

[jtrader83]

Scott Pape comes across to me as a rich kid who dabbles in shares.

He may come across that way, but he grew up in Bendigo, went to... I would say,a rough high school with my brother, his Dad owns a Camera House store in town. He wasn't born into wealth, just making a living from advising on how to become wealthy, which is a little dodgy in it self.

 

[Dynamic]

Just wanted to say thank you to all the comments and information here. I have been contemplating signing up to his blueprint services as I have been receiving his emails for about a year now. I instead have signed up to this forum in the hope that I can learn more about trading, I have previously dabbled in trading and made some quick profits before reorienting my finances elsewhere. So thanks again to the advice here you may have saved me some money and maybe make me some more

 

[piggybank]

So thanks again to the advice here you may have saved me some money and maybe make me some more

I'm sure other contributors would be pleased to hear that our advice as been some help to someone. Mind you it would be nice if you could share some of your past experiences - about the share market.

 

[Dynamic]

I'm sure other contributors would be pleased to hear that our advice as been some help to someone. Mind you it would be nice if you could share some of your past experiences - about the share market.

Nothing exciting to share piggybank, the usual buy some shares in the mining and construction sector before selling them off for a small profit. That's really as far as my trading experience goes. I found it quite simple and I certainly now see the long term benefits of such investments. I hope to have my finances in order so I can again start playing with small amounts of money and hopefully gain some profits again in the future

 

[Muschu]

A young relative just bought about a dozen copies of Pape's new book to give as Xmas presents.

Possibly some sound advice for younger people needing basic guidance?

 

[OmegaTrader]

I don't why but I never liked the barefoot investor that much.

He has some interesting and humorous pieces in the Newspaper


IDK

Maybe I am just too cynical.


I suppose my opinion is that ones focus should be on taking yourself and your own actions,

with the supreme rule being 'caveat emptor' or buyer beware.


If you make the decision then you should stand by the consequences and you should have researched before making the decision.

Of course their is corruption and chicanery to every society and this also applies to financial markets which are derived from a societies culture, norms and laws etc.

A lot of the times the small guy gets rooked.


I have always been against these gurus, in that they seem to be making money from advice that one can learn in a first year university degree.

I suppose the gurus success is a failure of our society and education system.

I was not exposed to basic personal financial concepts until first and second year of a finance/economics degree.


I never learned about saving, discount rates, compounding, the time value of money, taxation and estate planning, superannuation, alpha, searching for the best rates on loans and savings, financial instruments, risk and volatility.

and most importantly being the devils advocate.


Mostly sport and social aspects are valued by our society and our education system reflects this.


I would have loved a personal financial unit at school....

With an ageing population strains on the country investing and personal finance is becoming more and more important.

People don't always have the time and knowledge to implement financial discipline and often rely of professionals...


I suppose an odd quote sums up my opinion, the best meal is a home cooked meal,

But we don't always have time to cook it because we are working too hard or if we are really rich can't be bothered to.

So we buy takeaway and restaurant meals

So we never learn how to cook...

in and my cooking is still not as good as my mums


yet.....


Sorry if I went too faar off tangent

cheers

Omega