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ChangeWave Investing FAQ

About Our Service

1. I'm a new subscriber to ChangeWave and I wanted to know how to really get started.
   
   
2. I sent an e-mail to your research address over two weeks ago, why haven't I heard back from you?
   
   
3. Why don't you provide more information on daytrading? I think it's great and recommend it to my friends.
   
   
4. I'm a huge fan of ChangeWave. Is it OK if I post some of your information on bulletin boards that I frequent?
   
   
5. Toby is always talking about "open-source investing" and I just don't seem to get it. What is the deal?
   
   
6. I live abroad but love ChangeWave. Can you help us invest in foreign stocks.
   
   
7. I remember reading something in a previous WaveWire. Where can I get a copy?
   
   
8. Why do you focus on so many high-priced stocks and not ones all of us can afford?
   
   
9. I ran across a stock that I think would be good for ChangeWave. How do I get that to you?
   
   

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Question: I'm a new subscriber to ChangeWave and I wanted to know how to really get started.

Answer: First, welcome to ChangeWave. The ChangeWave service revolves around the buy/sell/hold advice delivered every Friday evening in the Weekly Update. In addition, all of the stocks that are current "buys" are listed on the ChangeWave Buy List, located on the subscriber home page, with target Buy Under and Try Under prices.

You will also receive Alerts about specific stocks and market conditions on a periodic basis, depending on our need to contact you.

If you find you have questions about how to do certain things or what specific terminology means, consult both the glossary and FAQ (frequently asked questions) located in the Tools section of the site.

The monthly print newsletter and the free WaveWire provide additional information about the markets and technology designed to improve your investment knowledge.

If you are ready to invest, make sure you understand the ChangeWave system. And remember to set sell stops to protect your cash. We organize our growth portfolios according to business risk in order to help YOU manage the amount of risk and reward that is suitable for YOUR GOALS.

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Question: I sent an e-mail to your research address over two weeks ago, why haven't I heard back from you?

Answer: We receive a great deal of e-mail from many of our subscribers asking a variety of questions. While we make an effort to respond to all emails that we receive, at this point in time we are unable to answer all of them. What we do try is to address major questions in any of our communications with our subscribers through the WaveWire, Alerts and Updates.

Those e-mails that recommend companies or sectors we aren't currently following we send to our research department that in turn puts the information onto our research list for future consideration. Many e-mails request personal investment advice--including information on a particular stock, how much money to invest, or where to put one's investing dollars. We cannot answer these questions because the SEC forbids us from providing personal investment advice.

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Question: Why don't you provide more information on daytrading? I think it's great and recommend it to my friends.

Answer: Daytrading can be great or it can be a great way to lose a lot of money--very fast. In general, daytrading works for a very select group of people who have the time and the skill to follow their stocks constantly throughout the day. While we aren't opposed to the concept, most people aren't in a situation to take advantage of those kinds of opportunities. However, ChangeWave is looking into ways to help those who are interested in daytrading.

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Question: I'm a huge fan of ChangeWave. Is it OK if I post some of your information on bulletin boards that I frequent?

Answer: No. Absolutely not. Naturally, we're flattered, but we have a business to run. All of the ChangeWave content--both the free and the paid--is copyrighted. If you start posting it, you damage our ability to make arrangements with other sites, sell ads, etc. In addition, paid subscribers who post content hurt themselves and other paid subscribers by diluting the value of the information.

It's already happened a couple times and we are dealing with it. Ultimately, if friendly encouragement doesn't discourage readers from reposting our content, we'll have to take stronger action.

Another, not too small point. Don't just assume because you read something in a bulletin board someplace, that it really reflects our way of thinking. We've seen recently how easy it is to make that stuff up. You need the ChangeWave info straight from the horse's mouth, or a licensed third party, to be sure it's the real thing.


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Question: Toby is always talking about "open-source investing" and I just don't seem to get it. What is the deal?

Answer: It's simple really. Open-source was made famous by the Linux operating system where developers around the world contributed to making the OS that much better--by working together. ChangeWave is applying the same principle by getting industry experts to contribute their knowledge about industries and technology. Then we sort through those comments to get a better sense of trends, opportunities, etc. and come up with investable advice.

Some of that information makes its way here, to the WaveWire. The actual investable advice is part of our ChangeWave advisory service.

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Question: I live abroad but love ChangeWave. Can you helps us invest in foreign stocks.

Answer: We wish we could, but we can't. ChangeWave focuses on the major exchanges -- Nasdaq, NYSE and AMEX. Though those exchanges include stocks from many nations, we cannot investigate every stock in every exchange. We have to pick our battles.

On the bright side, the technologies and many of the firms that we cover are all international and have impact throughout the world.


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Question: I remember reading something in a previous WaveWire. Where can I get a copy?

Answer: All of the WaveWires are archived on our Web site. Simply click on the WaveWire Archive section under Tools.

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Question: Why do you focus on so many high-priced stocks and not ones all of us can afford?

Answer: Great companies are expensive. You have fallen victim to a common investor trap. In the old days, buying stocks in odd lots (less than 100 shares) was extra expensive and difficult. Now, it's common and no more expensive. You should focus on percentage increases (and decreases) that hit each stock.

Listen: Everyone wants to own 1,000 shares of any successful company. Well, start out with 100 like we did with Cisco a few years back at the outrageous price of $89 and, a few splits later, you have more than your 1,000 shares. If you focus on how many shares you can afford, you will miss many great stocks.


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Question: I ran across a stock that I think would be good for ChangeWave. How do I get that to you?

Answer: Easy. Send us the name of the company (with the ticker, please) and any information you might have why the company is a good play. Sometimes readers attach links to articles and that's great. However, we get a large number of suggestions and do our best to weed them down to the best New Economy companies. We do have a couple guidelines that might help you.

• First off, it has to trade in the U.S.-ideally on one of the top three exchanges, though we do look at bulletin board stocks.
• Next, we are focusing on New Economy stocks. Sure GM and McDonald's might be fine companies, but that's not what we do here.
• Finally, look for companies that are in the midst of a major opportunity or ChangeWave.

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