A stock-advisory newsletter is a report published by analysts and investment specialists outlining their beliefs of what opportunities exist in the market for investors. Investors pay for this information, which provides a market outlook. Newsletters come in many forms—either overall commentary on the stock market or specific stocks being analyzed and recommendations being made by the newsletter. The newsletter makes general recommendations based on a model portfolio, and each reader must take into account his or her own risk profile and how the recommendations fit into the reader’s portfolio. Newsletter analysts don’t have information regarding the readers’ specific investment criteria, and due diligence must be performed by readers to ensure that they are within their own risk parameters.