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75 comment(s). Last comment by stockraider 2020-05-15 08:31
Posted by Philip ( buy what you understand) > 2020-05-14 09:18 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-14 09:31 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-14 12:33 | Report Abuse
Posted by Philip ( buy what you understand) > 2020-05-14 17:08 | Report Abuse
Philip ( buy what you understand)
4,785 posts
Posted by Philip ( buy what you understand) > 2020-05-14 09:01 | Report Abuse
Over the years I have bought a lot of classes and subscriptions from many frauds and fake sifus. Suffice to say, and have spent a lot of money on classes. I have built a series of red flags to define this frauds. You can use it to evaluate before you buy classes, it has been very effective for me.
Kcchongnz fulfills every criteria.
1. Self promotion. Either by talking bad about other investors ( in this case KYY and myself), writing articles by referencing super investor methodology ( without the same results), etc.
2. No history of results. Almost every subscription classes I went to ( receipt for 2, who are now my investing partners), they will keep talking about stock picks analysis, but have no record of long term multiple year portfolios.
3. Very defensive when questioned on results. They spout things like comparing sausages etc but do not consider the importance of such. If you think about it qualitatively, who cares about the GREAT STORIES written, but the financial reports and returns? But almost all frauds are unable to keep a portfolio: because they have none. They take it as a personal affront instead.
4. Never looking back and studying his poor investments or selling activities. Selling is just as important as buying. Since frauds are just about selling stock picks and successes, they never understand the importance of learning from bad choices. You never see them studying or writing articles about their investment mistakes or their losses or selling prices.
5. Income sources. If you notice that they sell a lot of other supplementary products like subscription classes, stock pick services, book selling, e-book etc, they very rarely manage funds or are good enough at stock picking to live entirely off of it.
6. DIWORSIFICATION. Generally, most top investors have a tight investing policy of diversification. The number of stocks invested should coincide with the capital at hand, due to liquidity. Peter lynch is a brilliant individual, but he had to buy many stocks due to the mutual fund capital flowing in. His results despite the ever growing mutual fund capital is nothing short of amazing. Most frauds promote a lot of stocks picks because it is the only way to drum up interest and sales. It becomes very boring to keep buying the same stocks year after year, which many frauds have no idea about. There are limited good companies to invest in out there, despite the thousands available.