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William Jennings Bryant wrote, in the early 20th Century, if you open the door to the moral high ground, the weak would exploit it.
That is what has happened here.
Unfortunately, I liked this site, but there appears to be a high level of insecurity among some members, that for whatever reason, feel threatened by others success.
Yes, I was annoyed that some felt that I actually needed to justify my stock picks. Allow me:
I was a 6th generation member of the NYSE up until February of this year. I started as a runner on the floor in 1973, while in high school. I have a degree in finance from Princeton (“79) and an MBA from Harvard (“84). I earned my CFA designation in 1989 and authored several hundred research papers on Wall Street over the years. Additionally, I have appeared on CNBC over 90 times, (the most recent was in May of 2005).
With the advent of the Internet, I found sites like these to be quite interesting, and an efficient way to keep my finger on the pulse as to how non industry people react to various market indicators.
Prior to my leaving the industry in February, it would have been unethical and a violation of NASD rules for me to post on a site such as this. Upon my retirement, I was able to write opinions freely, and I always disclosed any involvement in my picks to avoid any conflict or appearance of front running or otherwise influencing the markets.
I have temporarily passed on offers from large, well know Wall Street IB’s to write and publish a weekly newsletter to disseminate to their brokers as well as the public. For a price, usually somewhere in the neighborhood of $700 a year, a person could receive such bulletins, the very same information, with a bit more technical analysis, such as calculations of the Black-Sholes option equation, stock dividend models or covariant deviation formulas) that I posted here, for free. My Wall Street pals’ thought I was nuts for passing on what would have amounted to a $650,000 to $750,000 a year position (without bonus).
Back in the day, well know, household name analyst would routinely contact me for reaffirmation on calls, prior to their releasing their own reports. You guys here had a really good thing that you blew.
To have someone be petty enough, to call me out because I may have missed a stock or two, or an option on my review list is the height if insecurity and weakness.
Not one of you here have the track record I have on or off this board, so why circle the wagons?
I have been a member of this board for 8 weeks, made approximately 85 recommendations, with an overall YTD of 10% (and that’s not annualized), with 4 picks up over 100%, one up close to 200%, 15 up over 30% 20 over 15% and many over 50% (in these cases, buy dates are totally irrelevant, unless you are looking for a meaningless annualized return, which is a complete hypothecation).
My aggregate negative returns are approximately 3.97%, overall, respectable numbers.
Now, I must bid you all a fond adieu.
Happy trading, and remember, do thorough research before taking a position. Never buy blindly on a bulletin board recommendation.
Cheers.
That is what has happened here.
Unfortunately, I liked this site, but there appears to be a high level of insecurity among some members, that for whatever reason, feel threatened by others success.
Yes, I was annoyed that some felt that I actually needed to justify my stock picks. Allow me:
I was a 6th generation member of the NYSE up until February of this year. I started as a runner on the floor in 1973, while in high school. I have a degree in finance from Princeton (“79) and an MBA from Harvard (“84). I earned my CFA designation in 1989 and authored several hundred research papers on Wall Street over the years. Additionally, I have appeared on CNBC over 90 times, (the most recent was in May of 2005).
With the advent of the Internet, I found sites like these to be quite interesting, and an efficient way to keep my finger on the pulse as to how non industry people react to various market indicators.
Prior to my leaving the industry in February, it would have been unethical and a violation of NASD rules for me to post on a site such as this. Upon my retirement, I was able to write opinions freely, and I always disclosed any involvement in my picks to avoid any conflict or appearance of front running or otherwise influencing the markets.
I have temporarily passed on offers from large, well know Wall Street IB’s to write and publish a weekly newsletter to disseminate to their brokers as well as the public. For a price, usually somewhere in the neighborhood of $700 a year, a person could receive such bulletins, the very same information, with a bit more technical analysis, such as calculations of the Black-Sholes option equation, stock dividend models or covariant deviation formulas) that I posted here, for free. My Wall Street pals’ thought I was nuts for passing on what would have amounted to a $650,000 to $750,000 a year position (without bonus).
Back in the day, well know, household name analyst would routinely contact me for reaffirmation on calls, prior to their releasing their own reports. You guys here had a really good thing that you blew.
To have someone be petty enough, to call me out because I may have missed a stock or two, or an option on my review list is the height if insecurity and weakness.
Not one of you here have the track record I have on or off this board, so why circle the wagons?
I have been a member of this board for 8 weeks, made approximately 85 recommendations, with an overall YTD of 10% (and that’s not annualized), with 4 picks up over 100%, one up close to 200%, 15 up over 30% 20 over 15% and many over 50% (in these cases, buy dates are totally irrelevant, unless you are looking for a meaningless annualized return, which is a complete hypothecation).
My aggregate negative returns are approximately 3.97%, overall, respectable numbers.
Now, I must bid you all a fond adieu.
Happy trading, and remember, do thorough research before taking a position. Never buy blindly on a bulletin board recommendation.
Cheers.
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