The math here alone makes zero sense. Let's assume that the majority of Seeking Alpha users are not institutional investors considering I'm not sure what institution is going to use crowd sourced research that often provides little insight into industry or company details beyond the 10,000 foot view. Of course institutions would be willing to pay $900 when they pay much more for a Bloomberg terminal and other data sources. The problem is, I'm assuming the vast majority of Seeking Alpha (SA) users are individuals with relatively small portfolios that do not leverage research provided by big box brokers for free. Let's say the average user has $100K in investable assets (probably too high, maybe not)...that would mean they are spending 90bps on getting insights from SA...Put that on top of users who use ETF's or have a broker with high fees and you're talking about an expense ratio in the range of 1.5%-2.0% which is absurd. Some basic analysis/logic on the part of SA which looks at their user base would tell them the pricing makes no sense. I would definitely pay something reasonable to hear some high quality crowd sourced perspectives, but a large portion of SA "analysis" is done by rookie or even "seasoned" investors that have little understanding of the company they are researching beyond what you would read in a press release. That is all from the peanut gallery.
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