A solid stock picking service can have great benefits when it comes to the stock market. MyWallSt is a stock picking service by Emmet Savage. Each month this service releases an article with one new stock pick. These articles include an investment thesis explaining the pick as well as an assessment of risks. MyWallSt also offers an investor education mobile app and the ability to create custom watchlists. Should you use this service? Read our review of MyWallSt and learn more.
MyWallSt is a stock picking service run by Emmet Savage with an impressive track record. The service chooses one stock at the start of each month to recommend, and it has picked winners such as Shopify (+2,379%), The Trade Desk (+915%), and Amazon (+525%). In fact, 30 of MyWallSt’s monthly picks have returned gains of more than 100% since the service was founded in 2014.
In our MyWallSt review, we’ll help you decide if this stock picking service is the right choice for your needs.
MyWallSt Pricing Options
MyWallSt costs $39.99 per month or $99.99 per year. The annual pricing is relatively cheap for a stock picking service. You can try out MyWallSt with a seven-day free trial (credit card required).
You can also use the MyWallSt app totally free if you want. You won’t get access to stock picks, but you’ll still get market news and access to the app’s educational features for new investors.
How MyWallSt Works
MyWallSt is incredibly simple. Each month, the service releases an article detailing one new stock pick. The recommendation comes with an investment thesis that explains why MyWallSt’s analysts think the company is poised for growth. It also includes a relatively clear-eyed assessment of risks. For example, in recommending Mastercard, the analysts noted that the company has repeatedly clashed with regulators. Each investment recommendation is only about a five-minute read.
In general, MyWallSt focuses on high-growth-potential stocks and attempts to ride current trends. Many of the service’s recommendations in the past several years have been for eCommerce and business tech companies, in large part because these are subsectors that have swelled in popularity. In that respect, the service is extremely similar to The Motley Fool’s Stock Advisor stock picking newsletter.
MyWallSt’s performance since it launched in 2014 has been very impressive. 30 recommendations have returned more than 100%, while 57 recommendations have returned a loss. In fairness, many of these losses are due to the recent downturn in the market, which has hit the tech sector especially hard.
It’s worth keeping in mind that MyWallSt doesn’t provide stop losses or really any details about exit strategies. So some of the service’s losses are in excess of 80%. It’s also up to investors to decide for themselves when to realize gains on a stock that’s performed well.
Notably, MyWallSt doesn’t place any emphasis on portfolio-building or diversification. The service’s tech-heavy focus offers a market-beating portfolio when times are good, but it also leaves investors more exposed to losses in the event of a market crash. MyWallSt outperformed the market during the coronavirus pandemic because of the dominance of eCommerce, but the service’s picks have underperformed the market during the recent downturn in the tech sector.
One other thing that MyWallSt doesn’t include is any technical analysis. The service does not recommend an entry price for the stocks recommend, and returns on the MyWallSt website are simply tracked from the price at the time the recommendation was issued.
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MyWallSt Additional Tools
MyWallSt offers a few additional tools that are available for free. The stock tracker tool lets you can create custom watchlists within MyWallSt based on either the service’s recommendations or any stocks you want to add. These watchlists aren’t all that functional, but they can be helpful if MyWallSt is the only investing platform you use.
The service also offers a free investor education mobile app. This includes more than 40 lessons that you can progress through to introduce you to the stock market and principles of investing. If you’re considering MyWallSt as a first-time investor, the education app is an excellent complement to the recommendation service.
The other feature MyWallSt offers is stock market news. At the end of each day, MyWallSt analysts write up brief summaries of three headlines that they think are worth investors’ attention. These are often about earnings, but they also cover mergers and acquisitions, leadership moves, and more.
MyWallSt Comparison To Other Services
MyWallSt is most similar to The Motley Fool’s Stock Advisor service. Both stock picking services issue monthly recommendations based on market trends rather than fundamental or technical data. Both have strong track records of picking companies that subsequently exploded in value.
MyWallSt is a bit cheaper than Stock Advisor, but Stock Advisor issues two picks each month instead of one. If you have the money, the stock picks from the two services are just different enough that it could be worth investing in both.
Notably, MyWallSt isn’t a stock trading app. The picks are meant to be long-term investments, not short-term trades. Active investors and traders who want stock trading picks may want to consider a service like GorillaTrades.
MyWallSt Platform Differentiators
MyWallSt is an extremely straightforward and inexpensive stock picking service. Considering that the platform has a strong record of picking companies that double in value, the price tag of just $100 per year is surprisingly low. The investment theses behind MyWallSt’s picks are approachable even for new investors.
The biggest downside to this service is that it doesn’t offer any stop loss or exit guidance. Investors should approach stocks recommended by MyWallSt with a strategy for what to do if the pick turns out poorly. It’s also important to keep in mind that MyWallSt leans heavily towards tech stock investing and doesn’t worry about diversification. Investors should be aware of this and structure their portfolios accordingly.
What Type Of Trader Is MyWallSt Best For?
MyWallSt is best for long-term investors who want help picking high-growth stocks. The service is approachable and geared towards helping new investors level up their investing game. At the same time, MyWallSt’s handpicked stocks have historically performed very well. So experienced investors can benefit from this service’s recommendations as well. The annual subscription price is very low, especially compared to the historical returns MyWallSt has generated.
- Excellent track record far exceeds S&P 500
- Easy to follow with just one pick per month
- Focuses on high-growth companies
- Inexpensive subscription
- Free investment education app
- Little attention to risk management
- Narrowly focused on tech and tech-adjacent stocks