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Pastimes : Richard Ney and the Wall Street Gang
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To: BenYeung who wrote (33)12/2/1997 12:51:00 PM
From: Schmedley  Read Replies (2) of 492
 
Hi Ben

While I share your (and Neys') view of insider manipulation of the press, I would take whatever Mr. Ney has to say with a grain of salt. Having followed Mr. Neys commentaries since my early days(1981). I should share with others my observation that his "hit" list has been VAST over the years and his observations little better than a coin toss.(at least on a timely basis)I would suggest to anyone new the markets to go to the library and read his book "The Wall St. Jungle"
While dated, it does give good insight to the machinations of the
Specialist" system. After that I would suggest ANYTHING by William O'Neill,"Hit and Run Trading" by Cooper and "Street Smarts" by Connors and Bradford-Rashke to name a couple. As for the "benevolent" advisors who want to make you (them) money by sharing the wealth of their knowledge through paid services-GIVE YOUR MONEY TO YOUR FAVORITE CHARITY.At least you'll feel good about yourself when it's gone. Because thanks to people like Mr. Ney (or perhaps not) I too am an expert at what not to do in the stock market. So instead of putting your trust in others -Read, Read, Read and then listen to your instincts. Don't rely on somebody else's bought and paid for opinions. To repeat that oft quoted phrase, "EVEN A BROKEN CLOCK IS RIGHT TWICE A DAY" !!

Good Luck and Smart Trading

Schmedley
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