I continue to witness far too many individual investors trying to “trade” the markets. In 31 years in and around Wall Street, the only killings made on Wall Street I ever seen investors make are those who shot their advisors!
A posting in Zerohedge.com this morning, brings to light just a week’s worth of trading “tips” from perhaps one of the best “showman” to ever appear on TOUT-TV (CNBC-TV) – Dennis Gartman.
Unlike the clown who rings bells and lost souls scream “Boo-yah” at, Dennis is a decent man who mastered his public persona despite a track record that doesn’t come close to the perception the “tout” media folks would have you believe. Despite this, I believe Dennis is a very good market technician; But has allowed his ability to “dazzle” when the red light comes on, override his God-given talents and ends up little more than bait for the “Don’t Worry, Be Happy” crowd to snag more suckers.
Ironically, Dennis’s commentary today is highly accurate IMHO and should be taken seriously despite being seemingly justifiably “mocked “by Zerohedge.com
“The main purpose of the stock market is to make fools of as many men as possible”