Does make you any money?

Discussion in 'Educational Resources' started by jbtrader23, May 26, 2002.

  1. mbg


    I won't be renewing my subscription when it comes due - I agree with others - they charge 150 or so for basically nothing, and want you to pay 100 per month for other stuff - a la trading markets.

    I used to love reading Cramer - now, he's the only one I don't read - I can't take the blabbering anymore. And I don't think he's as good as he thinks he is. I do like DePorre, some columnist conversation - but it doesn't make a difference in my trading.

    Actually, come to think of it, I believe the absolute worthless articles come from Ken Wolff - man, this guy writes an article and says absolutely nothing in it! Talks about his "students" like he's some sort of Professor of trading.

    a bunch of Dreck
    #11     May 30, 2002
  2. nitro


    I am a very short term trader and I thought that reading this stuff was useless.

    Slowly I am changing my mind. I subscribed to RM on P2's advice and I am finding it a real education. Mind you, it has not made me money directly, but I feel that I am gaining an understanding where one was not there before - and in my heart I believe I am becoming a better _ALL_AROUND_TRADER_ because of RM. The reason is simple - I think that the big money thinks similarly, and if I can get into the head of those guys for a minute (thru the use of RM,) I believe that I can build a strategy to profit from it eventually.

    Really, I feel that there is no part of the market that isn't worth learning, and RM seems to be a RealTime exiting version of what would otherwise be a boring "Market" or "Trading" book.

    If it were up to me, I would devour RM, Business Week, Fortune and Forbes all the time - but I would have no life outside the markets unless I took a speed reading course -

    #12     May 31, 2002
  3. drdr


    Dont use RealMoney !!!!!!! :D
    #13     May 31, 2002
  4. Although you said that in jest (I assume), I actually did take a speed reading course. I read quite a lot and thought, "I wonder if I could read faster, I'd get a lot more read". Tell ya what, it's been great. I don't read as fast as that Howard Berg guy (of infomercial fame) but I did double to triple my reading speed without losing anything in my understanding of the material.

    I'm a diehard daytrader (planning to expand into multiday swings), so I don't find much practical use for fundamental/value approaches but I still love reading anything market/business related.

    #14     May 31, 2002
  5. deepitm


    I have made money subscribing to "RealMoney". Arne Alsin is good at picking value type stocks for the long term. I have used several of his picks for my IRA and have been very happy with the results. Herb Greenberg has been useful as a source for potential shorts. Bill Fleckenstein writes a column everyday about the state of the market. His column is great. He had been talking about how overvalued IBM was long before the recent downfall. It allowed me to purchase put options that worked out nicely. He also has pointed out the move in precious metals for sometime now.

    Note that Herb and Bill don't give specific recommendations - they give their assesment of the current company/market situation. It's up to the reader to do their own homework and decide whether or not to take action. These 3 writers make it worthwhile for me. If they were to leave I probably would cancel my subscription.
    #15     May 31, 2002
  6. I have a love/hate relationship with RM and Cramer. I remember how great it was and how exciting it was and it annoys me that it no longer has that edge. You could e-mail dave kansas, the editor, and actually have a meaningful dialogue with him. Don't bother now.

    Still, I have to admit it is not worthless. If nothing else it is a good source of general market information. I'm not impressed by most of the writers. The tech analysis guys don't add much. Some of the value guys, like Marcin and Alsin, are top-notch. Herb Greenberg is a jerk who writes gossip fed him by shortsellers. Some of it has been spot on. You can't ignore his column but he is still a jerk.

    Today's columns by Cramer and Arne Alsin are probably worth a year's subscription cost.

    At some point I will take the Pro trial, but I really hope it sucks 'cause I don't want to cough up that kind of dough. Let's not forget that todd harrison has something in the works as well.
    #16     May 31, 2002
  7. ive been with real money from day one.the problem with cramer is he doesnt have a method for picking stocks.if he hears a good story on a stock or if someone comes on his tv show and butters up to him he likes the doesnt matter what the chart looks fact he says charts are worthless.after he picks a stock and it goes down its always something else causing it.
    #17     May 31, 2002
  8. vhehn,

    I agree about cramer but that's the way most of wall street operates. Cramer is a very smart guy and was better at it than most. Mike Steinhardt made a fortune using that approach. Look at the macro picture, decide if it is being correctly discounted by the market and make your play accordingly.
    #18     May 31, 2002
  9. "I agree about cramer but that's the way most of wall street operates. Cramer is a very smart guy and was better at it than most. Mike Steinhardt made a fortune using that approach. Look at the macro picture, decide if it is being correctly discounted by the market and make your play accordingly"

    if it worked i would agree.cramer hasent been profitable for 2 years now.i did his action alert thing.he rides stocks down 40-50%+.
    #19     Jun 1, 2002
  10. Well, I said he "was" better at it than most. This action alert thing is a joke, I gurantee you he did not trade this way at his hedge fund. Of course, he can't very well send out an action alert saying my buddy at the Goldie trading desk told me that Abbie is going to up her equity percentage today, and by the way, I just got a big allocation for a hot IPO.
    #20     Jun 1, 2002