As a subscriber to Dan Wiener's newsletter, I have the honor and privilege of being on the mailing list of Phillips publishing.  I can assure you that the average newsletter is about as good as the average mutual fund -- an abomination who's goal is to part you from your money.

However, I do think there are some good newsletters out there.   I like Dan Wiener's newsletter because he focuses on asset allocation and uses Vanguard funds.  I like the FundX newsletter because it uses no-load funds.  Also, it has articles which stress how you can decrease volatility by adding bonds to a portfolio.

I think investor education is hard to accomplish.  the average investor will spend 3 hours looking for a guacamole recipe for a cinco de mayo party, but will not spend 10 minutes learning about mutual funds.

Luckily, the employees of my company have a 401(k) plan with Vanguard.  A Vanguard rep. comes in once a year and tells them everything they need to know in an hour.

Petrocelli