Information the key to success for Aussie investors

Newspapers, annual reports, and friends and family are investors’ main sources of information.

When it comes to seeking information about companies and the market, according to the just released 2012 ASX Share Ownership Study, Australian investors actively seek out information through a number of channels.

The number one source for advice and information for investors in 2012 was newspapers, with 43% of respondents saying they used this channel. In a close second place (at 41%) were annual reports and prospectuses; while the third most relied upon source was family and friends.

It probably seems like cold comfort to the newspaper companies, namely APN News and Media (ASX: APN), Fairfax Media (ASX: FXJ) and News Corp (ASX: NWS), that investors are still relying on their content for sourcing financial advice and information. However investors’ desire for business information has allowed The Australian Financial Review to construct a pay wall around its content. Of course pay walls haven’t been enough to prevent APN and Fairfax underperforming the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) by over 80% in the past five years.

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