TechCrunch Proves How Little Industry Outsiders Know About Finance
Posted by Timothy Sykes on Thu 23rd of Jul, 2009 08:15:23 AM
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Yesterday I posted HERE about how Covestor now allows you to auto-trade my trades by subscribing HERE…but THIS TechCrunch post about the service really pissed me off…check out what they said:
“Covestor Now Lets You Trade Alongside Its Top Amateur Investors”
…which in itself is misleading/demeaning because professional investors SUCK (as I commented):
Oh and Erick, not sure if you realize this but the “Professional Wall Street Investors” arent doing so well, not one of the 10,000 stock mutual funds was up last year…last time I checked Covestor DOZENS of “amateur investors” banked nice profits…learnnnn
…and then there’s this:
In the end, nobody is going to care about the fees. It is the performance of each portfolio that matters. I’m not convinced that really good amateur investors can do any better than professional investors. Over time, they nearly all get beaten by the S&P 500. If you take a look at how each of the ten Covestor “model managers is doing, some are beating the S&P 500 this month, but none are beating it over the past three months. I’d definitely want to see some outperformance before I put any money behind these guys. But I like the fact that Covestor is leveling the playing field for smart investors to virtually manage funds and compete with the institutional establishment.
TechCrunch mistakenly believes we “model managers” have been trading for 3 months…wrong, we might’ve known about it for 3 months, but we just started trading in beta-testing mode in the last month
TechCrunch mistakenly believes we “model managers” aren’t annihilating the S&P 500 over the past month, 3 months, 6, months, 1 year, 2, years, 3 years, decade…I don’t know nor do I care about the other managers, but my domination is well documented HERE
In the end, it all comes down to performance…not amateur vs. professional…just good old fashioned performance.
If I’m an amateur and you can make money by auto-following my trades, awesome.
If I’m a professional and you can make money by auto-following my trades, even better because then I’ll get paid more what I’m worth to you.
In the end, if Covestor even has the slightest bit of success cutting through the BS and fees that pollute Wall Street, they’re the next blue-chip financial. i hope it works out, subscribe to my auto-trading HERE for just 1.5% in fees per year!
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 19 | AENY | $2.80 | $3.02 | $1148 |
| Nov 18 | NLST | $4.16 | $4.40 | $947 |
| Nov 18 | IMGG | $1.42 | $1.64 | $2094 |
| Nov 17 | NLST | $5.04 | $5.59 | $2195 |
| Nov 13 | VRMLQ | $21.50 | $22.97 | $2901 |
| Nov 11 | EONC | $2.61 | $2.80 | $687 |
| Nov 10 | EONC | $2.74 | $3.36 | $9784 |
| Nov 6 | QXM | $4.31 | $4.80 | $1936 |
| Nov 4 | COT | $8.66 | $8.88 | $642 |
| Nov 4 | QXM | $4.61 | $4.89 | $822 |
| Oct 30 | DDRX | $25.70 | $26.53 | $812 |
| Oct 29 | CTDC | $4.00 | $4.42 | $781 |
| Oct 26 | AWSL | $3.24 | $4.10 | $2516 |
| Oct 23 | RODM | $5.27 | $5.23 | $301 |
| Oct 22 | AMLM | $2.69 | $2.97 | $820 |
| Oct 22 | USEG | $6.12 | $6.09 | $85 |
| Oct 20 | CBOU | $8.93 | $9.06 | $243 |
| Oct 16 | VRMLQ | $16.79 | $18.65 | $2773 |
| Oct 13 | YONG | $11.05 | $11.66 | $1202 |
| Oct 13 | NPHC | $0.59 | $0.71 | $583 |
| Oct 12 | IMGG | $0.60 | $0.70 | $682 |
| Oct 9 | ZAGG | $5.50 | $6.10 | $2380 |
| Oct 7 | GVBP | $0.03 | $0.27 | $702 |
| Oct 1 | NPHC | $0.70 | $0.85 | $1482 |
Total: $98,094 (681%)
