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Pastimes : Why teach if you can trade? -- Ignore unavailable to you. Want to Upgrade?

To: CatLady who wrote (66)	1/5/2001 11:09:40 PM
From: parker_meridian	Read Replies (1) \| Respond to of 313

OK, let's say someone is trading on their own and doing the research work everyday, and making good calls. Since they are doing the work anyway, why not derive a nice steady side income from publishing those calls too? What's wrong with that Well, I guess there isn't anything worng with that(maybe with the Tokyo X types), but I'd just question why anyone who was truly making the reurns that some claim would want to bother? I think of myself...sure now if I really thought there was some chance I could make X thousan a month I would be willing to committ to sitting here day in day out making the calls, promoting myself, speaking at expos, etc...but if I was making the really big $? Nope, couldn't be bothered. I'd trade when I want and travel the rest of the time without worrying about by business. I see these gurus around SI, posting there picks here on on their sites all day, and spending a lot of after hours time promoting themselves, working on their site, etc in addition to whatever research they do for trading. I don't think I would choose that lifestyle if I was truly a market savant.

To: CatLady who wrote (66)	1/6/2001 11:34:08 AM
From: Don Pueblo	Read Replies (3) \| Respond to of 313

It all boils down to whether or not you want to take over control of someone else's money, and how you want to treat that person after you have done so. That's the bottom line. Registered Representatives (the legal phrase for a stock broker) must, by law, take into consideration a multitude of factors involving the client's willingness/ability to assume risk. Brokers can have their license taken away if they pitch the "wrong" stock/bond/fund to the "wrong" client. My complaint about these so-called gurus that pitch stocks to their paying clients is simply that they may not consider the client's personal weak points. Many, many investors have been blown up in the last 6 months because they blindly followed someone else's (broker or "guru") bad advice. Once they are blown up, they can complain all they want, but the fact is that if you turn control over to somebody else, you have to that degree given up control of your investments. If the advisor is interested in helping the client understand how to invest better, then I applaud that. The problem is that some advisors have their own income demands put before educating their clients. I've met brokers that wanted nothing more than to keep their clients in the dark...the thinking was that if the client learns how to invest properly, they would no longer be a client. Jenna probably pulls in over a hundred grand a month from her clients. A@P is probably in the same range. Good calls or bad calls, the money arrives each month. That's a powerful magnet for someone who wants to pitch investment advice. A broker that makes that much dough a month is in the upper 1% of his industry. I know more than one day trader that makes that much every week. They have absolutly no interest in 'educating' anyone in how they do it. What possible reason would someone who takes that much dough out of the market every week have in telling anyone how they do it? <G> There is no substitute for education, and if someone jumps in the pond with the sharks, he better be ready to either bite, or get bitten, because there's no half way. If someone is unwilling or unable to learn, then they are better off buying mutual funds. If a broker or a "guru" is unwilling to educate his clients, you have your Big Clue.