Last night, to a clearly shocked stock market club of about 75 people at the University of Buffalo, that was the main gist of my speech. Not just because I was burned pretty damn badly on one of these microcraps in which I naively believed or because of the media idiots who pretend to be researchers not even because of all the manipulation. No, it’s because out of all the thousands of penny stocks, I’ve ever trade/researched, only a handful have ever remained in double digits for more than a few days/weeks! The truth is that all these companies are pretty close to failing so they’re desperate for attention / capital. And it’s that desperation from which you can profit because it makes everything real simple-like.
As those who’ve witnessed firsthand, I love speaking to big groups of people who for the most part have little to no stock market experience (if you wanna book me as a speaker, it’s $1,000 and travel expenses—just not worth my time for anything less since it screws up my trading and blogging).
The only other industry speakers out there all come dressed up with serious marketing slickness: “gurus” trying to sell their strategies (while failing to disclose all personal trades /investments / track records), brokers pitching niche deals and structured products (how you likin’ those auction rate securities you scumbags!), financial planners stressing the importance of conservatism and diversification (great for annual fees, but if somebody has $2,000-$5,000 to their name, who gives a f$#@ about $200-$500/year—at best!) and talking heads who love making big bold predictions about the economy, future of technology, which companies will benefit. Basically all these guys pitch stuff where there’s little to no chance of their audience being able to learn/do the stuff on their own, thus ensuring future for the speaker’s services).
Yup, it’s a pretty screwed up industry. Sure, I sell autographed copies of my book An American Hedge Fund and instructional DVD PennyStocking, but the beauty is that if I do my job right, I’ll show how the game works and then, in time, you won’t need me anymore—because while I have the variables down pat—or mostly down—and despite my rather quick success, I’m not exactly great at this (as those who frequent this blog are beginning to understand)!
And of course, I make no BS predictions whatsoever—no price targets on the Dow, S&P, oil, elections…no idea where technology is going and which companies will benefit most, all I do is talk about what has and has not worked for me—passing this great game of PennyStocking down to a younger generation.
PS How Forrest Gump-ish is that picture?
