…which is sad. See the popularity rankings HERE (Yes, Covestor should be paying me for all the free links I give them!)
Before I get to my point, I have to vent a bit–why is it so hard for people to let others in to see their trades/investments?
Whether you’re an amateur or professional–whatever that means these days–if you’re interested in finance and like chatting about finance, you understand how much BS/lying there is out there, so wouldn’t it be nice to see everyone fully transparent, unable to lie about their successes and/or failures, unable to go back and edit out mistakes they might have made (as Cramer & Co. has been known to do)
It’s absolutely pathetic that me, a silly little penny stock day trader who spends most of his time blogging, researching and creating ridiculously useful/testimonialed-to-death instructional DVDs has to get others to open up about their finances and it’s even more pathetic that I’ve had the best performance and held the title of “most popular” of 15,000+ traders/investors for the better part of a year.
Okay, I’m done venting…for now.
What I wanted to tell you 3,000 peeps and more (those who aren’t following me, can do so HERE):
1. Covestor only tracks my trades, not my cash levels, since I only take 1-2 trades at a time, Covestor counts me as using 50-100% of my assets when in reality I use 15, 25, 35% of assets. This makes my returns more volatile than they really are. Covestor is not real-time, the only way to enjoy real-time trade updates from me is to signup for TIMalerts.
2. My return in 2008 was 197%, see allllll the trades here (much better than any audit you whiny little bitches!) and understand the first 9 months I limited by the absurd pattern day trader rule….I’m not a great trader nor do I spend most of my time trading…my tiny account is just to show you I know what I’m doing and what you can do if you have the slightest bit of intelligence and/or my instructional trading DVDs
3. To this day, i still have yet to find a use for the highly regarded Sharpe Ratio…don’t even ask me how to compute it because I don’t care…all I know is that for my strategy, it always high and that makes me look good and makes other suspicious. I just take one good trade at a time…
4. Covestor is great for bringing transparency to this joke of an industry, but if you want to know about my trades in real-time and get the daily pre-market watchlists so you can actually reserve shares to short of my ideal plays, you must join TIMalerts. Oh yes, watchlists that prepare you ahead of time are probly even more valuable than real-time trade alerts.
5. Let me repeat: I’m not that great a trader, but considering how dumb most penny stock traders/investors are, trading against these morons is like playing dodgeball against midgets. If you have any intelligence whatsoever, you have a clear “edge”
Posted in Milestones, Transparency