Comments on: Ignore The Stock Pickers On TV

By: gordo182

gordo182 — Sun, 21 Mar 2010 00:05:05 +0000

Agreed. If I were an unscrupulous fund manager I would play chicken little on tv after shorting, cover my shorts when people watching tv react and then preach that the easy money will be made as the market realizes we were at an irrational low (after initiating long positions). Hey, it wouldn't be MY money at stake, it would be the investors'.

BTW – love Weigh House. Keep up the good work.

By: gordo182

gordo182 — Sun, 21 Mar 2010 00:01:01 +0000

Amen to that Boondock – great point!

By: Weighhouseblog

Weighhouseblog — Sat, 20 Mar 2010 21:37:22 +0000

There's another reason that people give advice in the media. Stock prices are driven partly by fundamentals and partly by perception.By telling their stories, they're trying to shape that perception. Both of the stocks and of themselves.

By: This and That: Dragon Profiles, the Pain in Spain and More… | MoneySense

This and That: Dragon Profiles, the Pain in Spain and More… | MoneySense — Fri, 19 Mar 2010 14:31:56 +0000

[...] Superbad advice is an entertaining new website on the seamier parts of the investment industry. In a recent post, the author who goes by the moniker Gordo wonders why fund managers go on TV offering stock pick advice. [...]

By: Boondock

Boondock — Fri, 19 Mar 2010 04:44:13 +0000

"What kind of goof goes on TV to give you free stock advice? First of all, if anyone had any special, and more importantly, consistent insight into the markets they wouldn’t be working for a living. They would be privately making tons of money behind the scenes without showing their cards."

You can make this argument against all kinds of people, especially those holding investment conferences in hotels across the country selling their systems for the FOREX market, real estate investment, etc.

I have a very naive father and accompanied him to a FOREX meeting and was blown away by the response to the presentation. Not one person there asked the simplest question, "If you can make $20,000 a day trading currencies, why are you travelling across the country selling software?"

By: This and That: Dragon Profiles, the Pain in Spain and More… | Canadian Capitalist

Fri, 19 Mar 2010 03:42:28 +0000

By: Lorne

Lorne — Sun, 14 Mar 2010 05:53:34 +0000

great website, and best of all , GREAT HONEST ADVICE !!!…..THANK YOU !!!……keep up the great work !!!

By: Gordo

Gordo — Sun, 14 Mar 2010 03:41:21 +0000

Thanks Lorne – happy to oblige!

Tell all your friends – we need to get this information out to the masses.