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Non-Tech : Kirk's Market Thoughts
COHR 185.83+5.8%Dec 19 9:30 AM EST
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To: Jerome who wrote (2343)11/25/2014 10:24:16 AM
From: Kirk ©2 Recommendations

Recommended By
Fintas
Jerome

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Thanks for sharing that. I've never doubted that was untrue. I remember when I first started writing for Suite101 in 1997 that I said analysts should be thought of as writers for late night used stock certificate salesmen.

Brokers would go out of business if they only sold you stocks that went up 10% a year and paid a 3% dividend.... They have to have written material to make a phone call to convince you that you could make 15% a year with 5% if you pay them to sell the first stock and then pay them again to buy the second. It SHOULD be a crime if the analysts are giving opposite advice to clients... the old boiler shop trick of finding a volatile stock, make 100 cold calls just before an earnings announcement where you tell 50 to short the stock then tell the other 50 to buy the stock... perhaps with puts and calls, then call back the ones who got the good advice and offer them bigger trades.

It is one reason
  • I only pay attention to them if they own the stock themselves with a significant percentage of their assets
  • I own every security I have in my Newsletter Explore portfolio
  • I own the same or similar index funds in my core portfolios.

Cramer tried to get around this by having a "real portfolio" that people subscribe to "Action Alerts" to get his trades for this portfolio... but I look at it as more a marketing cost as it has pretty much under performed the index funds and it has so many trades I don't see how anyone with what I believe is the "median amount to invest in his advice" can follow all the trades and not get eaten alive by commissions.

Anyway, it is one reason I like participating here at SI as most talk their book and why they like their investments, be they long or short.
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