Posted On: 2007-01-28
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Hello and welcome to on-demand radio with The Market Guys. This is AJ Monte.
And this is Rick Swope.
And today we're here in Toronto, Canada at the Financial Forum. We're about to give you some ideas on how you can get the most out of a trading forum such as this.
Yes, we see lots of folks coming around the exhibit floor, and they're looking lost a lot of times, AJ, and we thought it would be a good use today to interview Tom Brown, with Trade Smart clubs who's joining us here at the Forum, and talk about some ideas about how to get the most out of a financial forum.
Welcome Tom, it's very good to have you with us here. As you've already seen, there are people approaching us, almost to the point where they're overwhelmed with the information. What are you seeing?
Absolutely AJ. I'm seeing this all the time. People coming up and asking me questions. And they really don't know where to turn. There are so many choices at these shows, they're overwhelmed. And by the time they leave, their initial goal may have been to come out with a strategy, and they're walking out more confused than when they walk in.
I think it would be helpful today guys if we could lay out several key points that people can take away from today's broadcast that will help them prepare for financial shows. Because you know, there's trader's expos, there's financial expos, and so forth, so let's go ahead and lay out a few points so for the next person who goes to one of these shows, they can get the most out of it.
You know, Rick, I think we could all agree that when you go to a trader's expo, whether it be Las Vegas, Toronto, London, you're going to be approached by the overly enthusiastic salesperson, if you will, who is trying to get you to buy into their company, their service, their webinars, their seminars, their products, you name it, they're there to capture your name in a split second. They don't have a whole lot of time to do that, so they have to do that enthusiastically. As a result, the attendee is brought in to this arena, this booth, whatever it may be, and as a result of that we tend to get involved in things on an impulse. Which isn't really the best way. We have to think this out.
Well you know, we've only got a couple of days in these expos to engage you. And so what they're looking to do here is, is they're looking to capture your attention and capture your passion and try to get you to take action on that spot. Tom, I know you've been around the floor here, how do you see the reactions, or how would you advise somebody when they're going up and they're getting this information for the first time, and they're ready to take action, what would you suggest for somebody in that situation?
I think it's very important to, when you're going into these situations is not to make the impulse buy. You seriously need to look at the objectives, look at what's going on, look at what's around you. And give it serious consideration. Certainly take the information, give it thought, and then after the event, make the decision.
You know another thing here, not just being an impulsive buyer or shopper, but I think we really also have to watch out for the false claims. Obviously we've heard these on Saturday morning television, we call those infomercials. But we're living this four days inside of an infomercial, really, and you have to make sure that you're vetting your source. Rick talks about this all the time. Vet your source. What exactly is that...