We get plenty of feedback from our readers.
In fact, as publisher, I get to read every email you send us, if it’s anything to do with the quality of our editorial work.
Most of the feedback is positive.
Some of it is negative.
And some of it we just don’t know what to make of it.
For instance, this letter from subscriber Trevor L has us stumped…
Trevor L writes:
‘As much as I would like to take this “End of the world” thing seriously, I just can’t. “Free gifts” makes it sound like an absolute con. LOL I don’t want steak knives. common guys, please! you cannot be serious and if you are I’m not going to believe a word you say, just like a year or so ago, the market was supposed to get to 7500 points and maybe 15000. Yeh, even a dummy like me knows that it eventually will, one day! JOKE. What about the housing crash!. It never happened and now I’m going to have to pay even more for that Australian dream. To your credit though, I have learnt a lot from you guys.’
Trevor is referring to our latest report and Vern Gowdie’s new book, The End of Australia.
If you haven’t seen the report yet, you can do so here .
In short, Vern believes that a major economic bust is coming, and it will hit Australia hard.
After 40-plus years of cheap money and easy credit, which led to soaring asset prices (stocks, bonds, and housing), Vern says the Aussie economy now faces a long period of depressed asset prices.
It’s a compelling argument. And after reading Vern’s book three times (twice in manuscript and draft form), it’s hard to disagree with anything he says.
So, given the severity of Vern’s warning, what should we do? Should we just casually mention it passing? Should we say that something bad could happen, but that you shouldn’t really worry about it?
Or, should we crow about it as loudly as possible, and give as many people as possible the opportunity to get their hands on Vern’s new book?
If we were mainstream publishers, who always have paid advertisers to consider (usually big brands), we would have opted for the former.
But because we don’t have to worry about offending the sensibilities of external advertisers, we can say whatever we want. That’s why we’re aggressively promoting Vern’s new book, The End of Australia, in these pages.
However, for doing so, we get a response like that from some readers.
We give you what you’re looking for — sound advice
Trevor says that it looks like a ‘con’ because we’re giving away gifts. We’re not sure why it should seem that way. We’re a publisher of financial newsletters.
As part of this particular promotion for Vern’s advisory service, we’re sending new subscribers a free paperback copy of Vern’s new book, The End of Australia.
All we ask in return is that folks cover part of our printing, postage, and handling costs, and that they take out a no-obligation trial of Vern’s new advisory, The Gowdie Letter.
Compared to some of the things we see from our competitors, we’re not sure how anyone could see that as a con. Everything about it is related to what we do — publishing interesting, useful, actionable, and often provocative investment ideas.
Perhaps folks would rather that we go more mainstream and offer bottles of wine or travel vouchers, or an entry into a draw to win an iPad or Apple Watch.
No thanks. We don’t go for that gimmicky stuff. If you’re looking for investment ideas, we’re not about to bribe you into subscribing to one of our services by giving you the chance to win a holiday.
We’d rather treat you as an adult. You’re looking for investment ideas that could potentially make you or save you a lot of money. So it makes sense, if that’s what you’re looking for, that’s what you’ll get.
Not some dopey iPad or Apple Watch or a cheap half-dozen case of wine — how exactly will any of that contribute towards helping you learn about the markets? It won’t.
Perhaps that’s why, even though Trevor L criticises our marketing efforts, the key part of Trevor’s letter is in the last line: ‘To your credit though, I have learnt a lot from you guys.’
That’s what it’s all about. There’s no point in our editors and analysts having great ideas if we don’t have any readers to write to about those ideas.
Yes, some of what we say may be confronting and controversial. And it will even put a lot of people off. (We know it does, we’ve seen the emails!) But if it means we can get our message out to as many people as possible…and help them prepare for the fallout of 40-plus years of unsustainable credit growth, then it’s all worth it.
So, we’ll keep doing what we’re doing. If you like it and get something out of it, great. If you don’t, well, it’s been nice having you here, but don’t feel pressured to stay around.
Publisher, The Daily Reckoning
PS: At the time of writing, 11,567 people have ordered a copy of Vern Gowdie’s new book, The End of Australia. That qualifies it for New York Times bestseller status. If you want to make sure you’re well-prepared before the next financial crisis hits, find out how to get a copy of The End of Australia here…
Ed Note: This article was first published in Money Morning.