Altucher's variant is in the page prior. It is superior to his former version. Annuallizing 9.75% with 7.52% drawdown on the past 5 years of data in the Wealth Lab 100.
This guy sounds like a frustrated and conceited individual. Frankly, I find him annoying and I wish he'd keep his mouth shut with articles like these since it only serves to keep new traders from starting or continuing, and new traders help provide new money for those of us who do make consistent money from the markets. I will say that some strategies have probably become unprofitable over the years with the advent of HFT and other things but that's how the market works, it changes and evolves.
Actually, it's the man's right to say whatever his opinion is about trading and the markets. Readers need not agree. And if anyone is going to be dissuaded by any comment at face value, then it may well be for the best. As for what I, personally, don't think is "right," it would be more along the lines of something like this: <iframe width="420" height="315" src="http://www.youtube.com/embed/pxUAab2QFSE" frameborder="0" allowfullscreen></iframe> You want wrong? That's wrong.