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Mark Brown wrote:
> Hello realtraders,
>
> Look RT's I do not mean for anyone to take any of this personal. If
> someone who's motives have been crushed takes it personal I can't help
> that. I as a Trader owe it to my family to scrutinize every possible
> angle that some crook use might use to tray and get my money. Is that
> so wrong? We are taught to take a persons word for something without
> question and that very thing is the destruction of most traders. We
> often confuse a NICE GUY with an honest guy.
>
> So you call some vendor on the phone and he gives you the spiel about
> how his system did this and that. Is it so wrong to ask, why aren't
> you managing money like John Henry or something? Is it so wrong to
> wonder why if this system is so good, why would he sell it? Should I
> put my family's hard earned money at risk with someone who I haven't
> spent an considerable amount of time with?
>
> Who will tell me I'm wrong in my thinking?
>
> 1.) Vendors who have something to sell.
>
> 2.) Clients of vendors who haven't realized they have been taken
> advantage of yet and are still in that wanna belive stage of denial.
>
> 3.) Associates of vendors who have a vested interest in a product or
> service but come to the rescue and pretend that they are some regular
> person of whom I'm stepping on their dreams.
>
> 4.) Other vendors who want to try and ban together to protect other
> vendors so they post critical comments about my comments.
>
> Fact is NONE can product a independently audited track record and
> those who can produce such a record have nothing to sell.
>
> Am I wrong for thinking this way?
>
> Mark Brown
NW: Yes. I think there is a basic flaw in your logic. There are many
incompetent money managers managing large sums of money. Just look at the
percentage of mutual fund managers who did not beat the S&P this year.
Another good example of this phenomena is the number of market letter
writers with poor track records but with large subscription lists. In
contrast, there is no doubt many talented traders who are managing small
sums of money. WHY? Because the amount of money one can attract is a
function of MARKETING and not due to trading talent. One who is busy with
trading usually has little time or money to develop an elaborate marketing
campaign. Those who do concentrate their money and time on marketing rather
than market research will probably see their trading performance suffer
while attracting sizeable funds from the public. . So, you are correct to
be leery of glossy marketing campaigns, but also wrong to blindly paint
everyone offering their talent or knowledge to the public with the same
negative brush.
Cheers,
Norman Winski
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