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Pastimes : How to best deal with KOOKS at this web site
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To: Iceberg who wrote (653)7/4/1997 7:08:00 PM
From: Bill Ulrich   of 1894
 
Hi Ice, re: guru skewering

I think this would be a bit harsh and unfair:

<...Do it on a regular basis, merely pointing out that
X columnist (guru, or whoever) predicted Y on such-and-such
a date, and that Y subsequently went south instead of north
as predicted. Think of the havoc such a column could cause!
Are you up to it? Are your testosterone levels sufficient
for such an assignment?...>

Many of these chaps are shackled with providing an annual
recommendation. These often come out at the end of the year
to be applied toward the coming annum. Publishing deadlines
force submission of same in the late fall. So I can accept
that picking a batch of stocks in October that should
outperform the market from the following January to the next
is an unenviable task. Thus, any post-fact heckler has an
unfair advantage. Aforementioned could probably not do any
better.

Rather than picking on individual guru's individual picks,
it would be more useful to view their overall portfolio
performance i.e. a chart showing the overall accuracy,
year to year, of 10 noted columnists. Tables already exist
in this form for mutual funds. No reason why the guru can't
be treated as a mutual fund up for likewise comparison.

-MrB
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