Thanks.
My theory, is those who can, publish a verifiable record. Those who can't will bully people, lie, distort history and as a last resort use their ban buttons. The funny part is the biggest scammers all leave breadcrumb trails so the really intelligent can follow and see for themselves. It is like having an IQ test or paid tout indicator.
As you say, NOBODY is right all the time. The best indicator of quality is a verifiable record with calls made in advance.
I'm happy to see Cramer is at least now announcing his incremental buys and sells shortly before he does the actual buys and sells.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Typically, Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If the trade alert is sent pre-market, Jim waits 5 minutes after the market opens before executing the trade. If the trade alert is issued with less than 45 minutes in the trading day, Jim executes the trade 5 minutes before the market closes. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Someday he might catch up with me and publish the targets to buy and sell a month ahead of time so people with lives and jobs can use limit orders on weekends. It will be interesting to see how he does but I think that since the time is so short, his performance will benefit from people executing the orders the next day.
I will occasionally make a trade not published in advance but it is typically for 0.5% or less of the total portfolio value so even if the stock were to double in the next day before everyone could act on it... their total return would only be off by 0.5% and odds are over a few of these it averages to zero as often I get impatient and buy before my target, only to see it hit the damned target the next few days THEN turn around! |
