Big Picture Barry Ritholtz likes getting quoted in the press…trust me, I know the feeling, I also went through that phase…but what good does it do? Everything the senile-old-man-esque financial press covers has soooo many variables, sooooo many moving parts, sooooooo many time lags involved and most importantly, can be framed any number of ways. It’s all just one big guessing game where you HAVE NO EDGE WHATSOEVER, so luck and leverage aside, you can NEVER increase your wealth substantially.
You know my take, small investors and traders need to stop worrying about the news/macro/popular issues and learn to profit from more niche-oriented/inefficient hence predictable stuff like PennyStocking! That’s where the big % returns lie–no leverage needed–and if you really want financial gossip, don’t turn to CNBC, just visit Dealbreaker for some Bess Levin commentary…at least she’s funny.
And if you read the comments section of my previous post, I just made a quick and easy 7% return, or $330, on a $5,000 investment in less than 30 minutes. (Add in the $40 monthly bonus Thinkorswim gives me for trading too much (40+ trades/month) and my little TIM trading account now stands at $18,135, up 46% in 5 months in a market that’s down 10%+.
As I’ll detail later today, there was little guesswork/risk involved with that trade, it was NO different than previous successes like REED, VION, COINW, DARA, SHZ…and that’s just in the past month! I simply used my small account size to my advantage. I encourage you to learn to do the same…
Tags: bess levin, CNBC, dealbreaker, Financial Media Circus, Guessing Games
