Wonder why CNBC keeps putting on economic directors and professors instead of all the usual suits?
Because everyone the joke of a “news station”–ANALysts, fund managers–Bill Miller and Ken Heebner are competing for worst mutual fund returns, gurus, talking heads, CEOs, bloggers…especially “there’s always a bull market somewhere” (LOL) Cramer–is down 30, 40, 50% on the year and nobody wants to listen to anybody down that much.
(Trust me I know, they stopped inviting me back on when they discovered my hedge fund lost 35% over 2 years in 2006 and 2007)
Even though I’m up 100%+ this year, they can’t have me on because I manage too little $, I focus on stocks you’re not supposed to talk about, stocks that have the devil in them…maybe my profits are withcraft!
My point is all those people in big power suits, who have little to no track records nor have they done much historical research, are now being exposed for the shady marketers/snakeoil salesmen they are as their clients/followers are down big and will probly/should sue their lying/exaggerating asses!
It’s ironic then that I’m now selling instructional DVDs even though my experience/background is in trading, not marketing.
I guess the lesson here is that if you have any market wisdom/experience, you should be in the marketing game too because it’s just toooooo easy to poke fun at all the incompetence/lack of risk management.
An even more important lesson is that losses aren’t the end of the world, they make you smarter, wiser, more conservative. After all, guess why I’m all in cash and have been during this entire “crash”..it’s because I lost 35% once upon a time and that loss made me distrust everyone, which has been for the best!
Tags: Breakdowns, idiots
