During the bull market, lots of the trading "experts" come out on websites or from wherever they come from. Ultimately, there are people who give them money to invest or trade on their advice thinking that returns will be made. There are, of course, the usual analysts on CNBC and, of course, Jim Cramer. Not to mention, plenty of ET "experts" who some here have probably trusted their money to. One particular "expert" on this site was running a small fund and it lost about 95% of its value.[Schindler Trading] A few of the ET membership had given him cash and "invested" into the fund. There was yet another ET member people had sworn by for quite a while as he made what looked like good calls. This person was given cash by some of the membership and I dont see him around anymore. Before he had written thousands of posts in short-time, then suddenly disappeared when a few of the ET members had provided him with their cash. I wonder. One popular well known figure on this site with the initials JH some people swear by (to include some of the mods) is a notable figure who claims to be an "expert". Now we have Brian Shannon teaming up with Tim Sykes. Madoff and more Madoff. There were the investment bank and regular bank failings. Need I say more? The one good thing about bear markets is the truth is often revealed as the pants are pulled down off of the "experts". Future generations will read about this from the history books and they might be a little wiser then we were. Unfortunately, a word or two must be said for those that lost money off of the so-called "experts". I really hope the SEC does their job and places some of the "experts" in the local medium security prison. However, most of them, like Jim Cramer, will keep going on. Jim wont lose his house or spend one day in a prison, but go on a nice vacation when all is said and done while the "investors" will be doing what they can to make next month's mortgage payment. During a bear market, its the "experts" that still have the cash as they conned everyone out of it during the bull market. Remember all those small-cap, low float stocks that Jim pumped that had that mysterious up volume before the show aired? Jim still has that cash from those scams while the investors, some of which were retired guys over 70 sitting at their homes watching his show, went broke. So my question: "How is your level of trust in regards to "expert" traders or investors compared to 1 year ago?"
Yep, what drcha said ... can't you tell? LOL For the most part, in this business Expert = Con Man, and even if they aren't ... there's almost always an agenda in there someplace. :eek: