In contrast, GG's web site advertises that his subscribers should leave the arduous task of understanding technology to him.
I didn't see this either. Could you be more specific on where he says or implies this?
Isn't it a problem for someone who claims to be a conservative to foster dependency? Dependency on GG's newsletter is no better than dependency on the government.
GG is not, unlike the government, able to take the money needed to satisfy such dependency, out of the hands of the public.
Some of Gilder's subscribers use his newsletter as a small component of their overall DD, and I have no problem with that, but for many, their investment strategy consists primarily in downloading the letter, finding the pick of the month, and then clicking a buy order followed soon by a sell order when the frenzy has reached its peak.
Sadly, you appear to be correct on this. However, I don't recall him ever actually saying anything which would support such an activity, and have read many statements which strongly state that his advice is buy and hold advice.
It doesn't seem fair to me to blame GG if others use him in unintended ways. I think it's a shame that this kind of thing happens, but it's the American way. Use whatever you think works, and live with the consequences. I'm not fond of day traders but I don't blame the internet for them. Short term trades on GG's picks will continue to happen until the technique stops working in the eyes of those who do it. Shouldn't take long.
John |
