The knowledge of the world is at your fingertips. I know… you’ve heard it before. But it really is true. There is little to prevent you from learning what the experts know without paying a single cent. Of course, you might have to deal with a few little advertisements, but we’ve all become pretty good at that by this point. Without further ado, two great free online investing resources to catapult you to investing success:
1. BNN Bloomberg (BNNBloomberg.ca)
Although it costs $24,000 a year to lease a Bloomberg terminal, this nifty website can be accessed for a much more thrifty $0. I was truly shocked that anything with “Bloomberg” affiliation would be free, yet here we are. I find that the website’s content is free from unwanted political bias and useless information that can sidetrack us. What I mean is that this website is really there for one thing, investing information, and it does that one thing quite well.
Of course everyone knows that there is no such thing as an entirely free lunch. The site makes money by advertising, and so expect to see a couple ads. Unlike other sites though, you aren’t overwhelmed by advertisements, and the ads aren’t usually low-class clickbait ads. The ads, like the website, are very much targeted to Canadian investors and business people, so you might even click on one (although I never seem to have the urge). The ads featured on the videos could become annoying, especially if you are in a rush or plan to watch tons of videos.
While I tend to talk a little bit too much about stocks on this website, BNN is well-diversified in their coverage. Expect to find a wide array of investing topics covered. Topics include Gold & Oil, Cryptocurrencies, Real Estate, and even personal finance. In this way, BNNBloomberg.ca gives a very macro-economic picture which can be beneficial. Also, despite being focused primarily on Canada, the website is also quite geographically diversified, meaning it offers a solid worldwide overview.
Overall, the website is all you could expect from a free news source. Be thankful that Michael Bloomberg decided to let you use any of his technology in this lifetime!
2. Investopedia (Investopedia.com)
Of all of the investing resources out there, Investopedia reigns supreme. Investopedia is like the professional, curated, investing-oriented version of Wikipedia that not everyone can edit. They’ve been around since 1999 and hold very high-favor among many investors for their easy-to-understand videos and resources.
Speaking of their videos, they really are a gem. I find that the combination of graphics and straight-to-the-point commentary helps me learn better than traditional means. In a traditional context, you may have to listen to a professor drone on for hours before they get to the point. Investopedia videos are very much the opposite. Many of them are under 2 minutes and give a succinct overview of the topic.
For anyone who is entering a new domain, it is imperative they identify a source of reliable information. Investopedia fits the bill. Their dictionary, for example, is a really great feature. It defines any investing-related term you could think of, from Bernie Madoff to Berkshire Hathaway to OPEC.
As an adjunct to your daily BNN Bloomberg news, you can now find some current events coverage on Investopedia. Though I wouldn’t count on it for minute-to-minute news updates, if something is truly important in a big way I’d bet it’s featured on Investopedia.
Another feature which I can’t speak to, but which may be of interest is the stock simulator feature. You may be unsurprised to hear that this is something which you need to sign up for to use. I am certainly an advocate of paper trading as it allows you to learn more while risking less.
The Verdict
Though I am sure that there are hundreds more investing resources out there, they are not all high quality. These two resources are great for those of us looking for high quality resources without breaking the bank.
Hopefully you find what you are looking for and, as always:
Happy Investing.
