Who do I go to for investment advice? And how do I come up with my investment ideas?

People ask me these questions all the time.

I do two things. These two things are not anything particularly special. You can actually do the same things that I do, by yourself.

The first thing I do is read a lot. I'm looking for something interesting – some angle to exploit. This is the hard part... finding that angle.

Then, I look for someone I trust who knows that area better than me, to see what he is thinking... to see what I'm missing... and to find the very best way to play the idea.

Sometimes I pick up the phone, but often I read all the recent writings of someone I respect. The latest issue of Sjuggerud Confidential is somewhat of an example of this...

The issue reached subscribers on August 1. I called it The Only Easy Trade in a Difficult World. It was about a "no-brainer" trade in the currency markets.

I wrote the issue from a hotel room on the isle of Guernsey off the coast of France. My Internet connection was nearly nonexistent, so I didn't have the luxury of reading my favorite currency analyst's opinion to see what I might be missing.

It turns out, his latest issue reached his subscribers the night before mine did. It also turns out he switched gears completely. I had no idea... but he'd come around to my way of thinking exactly. That shouldn't surprise me, as I learned a lot about how to make money in currencies from him...

The currency analyst I'm talking about is John Percival. He's been writing the Currency Bulletin newsletter for 25 years. His 1991 book, The Way of The Dollar, which is only available to Currency Bulletin subscribers, is the best book ever written on understanding currencies and making money from them.

He laid out his methodology in that book, and he hasn't changed it since. That's a good thing... Again, it's no surprise that we came to the same conclusions a week ago about the markets... because – through his writings – he taught me well about making money in currencies.

John Percival is not for everyone... For one, his writing style is hard to read. It's cryptic, dense, and not for novice investors. (Hey, I see this problem as "job security" for me... I see my job as explaining unique investment ideas in simple English. Sounds easy... but it seems to be hard to find folks who can put the two together.)

Both John Percival and I came to roughly the same conclusion. It's because we both believe in the same way to trade... You don't do much, waiting for your opportunity. Then when everyone trades in one direction, you trade in the opposite direction... but at a very specific time.

The last time I placed a big currency trade, it was buying the dollar for the year of 2005. The dollar has been in freefall for many years starting in 2002. Following Percival's ideas, my readers bought the dollar for the year of 2005 and made good money.

Now we both are onto a new trade. Out of respect to my paying subscribers, I can't tell you what it is. But I do recommend you consider a subscription to either my Sjuggerud Confidential or John Percival's Currency Bulletin.

Though I look for investment ideas for a living, in essence, I don't do anything that you can't do... I read, looking for something promising. Then, I look for holes in my idea by reading people I trust who know that idea better than me. You can do it too...

Good investing,

P.S. If you're curious, I've never corresponded with John Percival, and I don't have any kind of business relationship with him. I simply think he's a good currency analyst with a good (though tough to read) letter, who wrote the best book on the subject around. For more on Mr. Percival and his letter, visit www.currencybulletin.com.

Editor's note: Steve Sjuggerud is a regular contributor to DailyWealth, a free investment newsletter focused on the world's best contrarian opportunities. We write with a simple belief in mind: You don't have to take big risks to make big money with your investments.

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