Have unclaimed money belonging to you?

Plus how to get a quick scoop on any stock & how to invest in gold

Issue #6. 

Hope you are all doing financially better than last week!  In this week’s edition of the Gist, we’ll discuss how you can find out about unclaimed money belonging to you, get a quick scoop and analyst opinions on any stock you may be interested in, and find out how to invest in gold, as a hedge to your investment portfolio.  

As a reminder, the Gist comes to your Inbox once a week and is not meant to be financial advice or a recommendation to purchase any product or security.  If any of this is useful to you, please invite your family and friends to join the community here

You can also ask us any finance or investment question privately by visiting  AskFinny.com.  We will share the most insightful questions and answers with our Gist audience.  

So here are your questions for today’s edition: 

  1. I’ve heard there is a site where you can check out any unclaimed funds belong to you.  How do I do this? 

  2. I’m wondering if stock XYZ is a good investment.  How can I quickly get the scoop on the stock? 

  3. I’m worried about the geopolitical situation in the world and would like to invest in gold as a hedge to my investment portfolio.  What’s the best way to do this?   

Let’s preview the answers first.

Summary 

  1. Missingmoney.com is a portal created by participating US states to allow individuals to search for unclaimed funds.  Currently, 39 states are participating.  Visit the portal to find out if you have any unclaimed money (for California residents, please visit this link).   

  2. To get the analysis of any stock--both analyst opinions and the assessment of key valuation parameters--type a company name or a ticker on AskFinny.com.  You will get a stock story that looks like this: 

  1. The best way to own gold, besides purchasing bullion, is to buy a gold trust like GLD or IAU. The gold trusts own physical gold and generally move consistently with the price of gold.  Here is a comparison of those two funds (“GLD vs IAU”): 

Let’s look at the details now. 

Deep Dive 

1.  Every year states receive lost and unclaimed money, property or other assets, and MissingMoney.com helps them find the rightful owners.  The site is endorsed by the National Association of Unclaimed Property Administrators. 

As of 2017, 39 states were participating in the program.  The eleven states not using MissingMoney.com are Arkansas, California, Connecticut, Delaware, Georgia, Hawaii, Illinois, New York, Oregon, South Carolina and Wyoming.

Visit MissingMoney.com to find out whether you have any unclaimed money or property belonging to you.

2.  We launched stock stories at AskFinny to give you the answer to your most frequently asked question--”should I invest in stock XYZ”.  You can now quickly get the scoop on any stock--just type a company name or a ticker on AskFinny.com, and you’ll be able to see the following information: 

  • A price chart

  • Key stats and a company description 

  • Stock analysis & opinions

  • Stock news

All packaged up, giving you the insights you need to make a better investment decision.  

The Analyst Opinions section provides stock analysis by independent equity analysts, plus a quantitative assessment of key stock metrics, pointing out the reasons to buy or sell a stock. 

We are committed to unbiased, independent stock research--and we’ll communicate our findings succinctly to you, so you’re not confused by finance verbiage.   Because stock investments are highly speculative, we won’t be providing a definitive recommendation to buy or sell a stock (or a stock rating). Our goal is to educate you, in the most efficient manner we can, without instructing you what security to buy or to sell.  

Here is an example of the stock analysis for Amazon (just ask Finny for “Amazon.com”):   

3.  If you’re interested in investing in gold, you should think about it as a hedge for your current portfolio.  There is a lot of speculative gold investing going on in today’s market, and some folks are trying to make a quick buck… we are just hoping you’re not one of them.

Here are some gold investment options:  

  • Gold bullion, though it may be impractical for many people who don't want to hold physical assets. Also, another big disadvantage to owning gold bullion is that it tends to trade with a wide spread between bid and ask prices. So don’t expect to turn a fast profit--hold it as a defensive asset over a long period of time.

  • A more practical way to invest is via gold trusts. Two popular trusts are BlackRock's IAU and State Street's GLD. Both of these funds carry gold as an asset.

  • You can also invest in gold miner ETFs (companies that mine for gold). Some of these ETFs are riskier/more speculative, because they own stocks of junior gold miners (which are less likely to own productive mines). The best way to find out about gold miner ETFs is to ask Finny for "gold miner ETF".  Here is the result of this ask.  Hint: VanEck GDX is a popular choice.

That’s it for this edition.  What would you like to hear about in our next Gist?  Ask us a question here.

The AskFinny Team