How to Invest in Prepaid Legal Stocks

Video Transcript

"Do you think you might need an attorney over the next 12 months or perhaps 24? Hi I'm Roger Groh of Groh Asset Management. We're here today to talk about how you can invest in the legal industry. Well not exactly invest in one attorney, but invest in companies that provide very basic legal services, wills, trusts, things like that to the community here in the United States. Hi, I'm Roger Groh with Groh Asset Management. Today the largest company in that industry is Prepaid Legal. You can look it up, trades on the New York Stock Exchange, the symbol is PPD. If you go back through their filings or perhaps their a list of their gross income or net income, you can see that the company over a long period of time has done a pretty good job of adding customers. To me that means that they've probably performed. Now I've never hired them or used them so I can't tell you from a personal point of view how they've done, but I suspect that if they have a million or 2 million or 5 million people that have actually used their services, that wouldn't have happened if they weren't doing a good job. Now why would people go to them at all? Well, they're cheap. There's no other way to put it. You pay a little bit of money, you get a little bit of interaction with a lawyer and they produce whatever documents that you need. For most of us, that does fine. So Prepaid is the biggest. PPD, check it out. I'm Roger Groh with Groh Asset Management."