I've seen so many stupid, false, and downright idiotic posts on ET since I joined, that I thought it might be entertaining and instructive to collect and share them in one thread. I'll just post from time to time whenever something comes up which I consider particularly moronic. I'm not here to mock people I disagree with - reasonable people often hold different views, after all - but rather to point out the worst of the worst, the real howlers, the most misleading, stupid, and flat out *wrong* comments that sometimes pass for advice on these forums. Since this is a journal, I do not want people coming on to dispute the "stupidities" - however I welcome suggestions of other "stupid posts" that have been made, either on ET (preferably) or in the general media (if you can find particularly egregious examples). I will refrain from commenting on why I think each particular post is really stupid. Hopefully the idiocy will be self-evident to anyone with half a brain.
"No such thing as value investing." - stock_trad3r http://elitetrader.com/vb/showthread.php?s=&threadid=99477&perpage=6&pagenumber=3
Cutten Registered: Sep 2003 Posts: 2271 08-23-07 05:40 PM I would say that the odds of capturing 3xATR every day are roughly equivalent to the chances of CNN capturing footage of a flying saucer, piloted by Elvis Presley, crashing into Mount Rushmore on Christmas Day. The fact that 28% of respondents said "yes" says a lot about human nature.
This moment of stupidity is not from an ET member, but from a renowned investment/media personality. It's been posted many times, but I thought this would be a good place to put it for posterity: http://www.thestreet.com/funds/smarter/891820.html
I am highly off-ended that you did not select one of my threads to be the butt of your opprobium. Obviously I am not trying hard enough.
this a worthwhile thread but for accuracy it should be renamed worst posts on ET and it should be be moved to chit chat. cutten I suggest you contact the moderator of this thread to make the move.
" Former Refco CEO gets 16 years in prison " http://news.yahoo.com/s/nm/20080703/bs_nm/refco_bennett_dc_5 "Bennett engineered fraudulent transactions to take the bad debt off the company's balance sheet at the end of reporting periods, so investors and others would not know about them. He engaged in other maneuvers designed to hide Refco's lack of cash flow as well, prosecutors said. When $430 million of bad customer debt was revealed in October 2005, customers lost faith in the brokerage and it filed for bankruptcy. " Another example of stupidity!