Michael Covel

Mohammed Added:

June 1st, 2008 at 3:51 am

Statistically insignificant, if this ad means anything, it means more losers on the other end of my systematic trades

Guillaume Chaudemanche Added:

June 1st, 2008 at 5:55 pm

Tip givers don’t take any risks except being ridiculous. How many of their tips do actually work ? They usually tell you to buy, seldom to sell, never how much nor when to get out. Tip givers are useless and tip takers are fools. No one make money like this on the long run. At the beginning of the XXth century James Livermore warned us against letting others make the thinking for you . It has not changed since then. People are lazy, they don’t want to think. They want tips. They get what they deserve.

(sorry for my English, it’s not my native language)

Matt - Trading System Reviews Added:

June 1st, 2008 at 9:36 pm

I have less problem with these guys than many of the others - they do publish their picks and track the results openly, they do give both buy and sells. They are far more realistic than the ludicrous claims made by some systems for sale on the internet promising 100%+ gains in weeks.
The big problem I have with things like this is the complete lack of control. I mean you are investing your money for your future, so what happens if this lot close down stop giving out these tips? If you create and trade your own system you have control and the understanding to trade the system.
As you’ve pointed out many times in your books the hardest element to get right is usually the psychological one and if things are going wrong are you going to keep trusting these people if you don’t really get what it is they are telling you?

PeteNbama Added:

June 2nd, 2008 at 12:21 pm

Yea, that is one silly ad that sounds too good to be true. Come on, the ad tricks the novice investor into thinking that 96% of Motley’s picks are winners without a significant number of them having gone through serious corrections, and I mean deep pullbacks that lost a lot of investors big bucks because they didn’t use proper risk management if any at all. I bet a good number of those picks though up today are probably not beating the SP500 in same time period. Reminds me of those who buy off of Jim Cramer’s advice or one of his talking heads over at the realmoney.com website. I wish Barron’s would do research on the Motley picks like they did with Cramer’s picks when they published an article a year or two ago showing that Cramer’s great picks did not beat the SP.