i don't think todd would / has done so; it's not his style. same with farley...or the intraday players (chris / bo / vadym), or rev shark. cramer, however, will gladly bullhorn if his position is positive for more than 10 minutes.
To say he's been on the wrong side since the start of the war rally is correct. But don't people have incredible naive views of how to make money in the market. I mean what most people seem to want is for someone like Harrison's advice to pump out profits week after week. Same thing Marc Faber writes about, he says that the majority of hedge fund investors expect them to be up x% quarter after quarter, but that just doesn't happen to 95% of them, and that's just not how the markets work. I'd bet that if someone followed Harrison's advice (it's easy to read between his lines) over a year and didn't get too aggressive, then they'd have a great chance of out-performing 90% of the money managers out there today. And all of this for about 1 hours work a day.
"I'd bet that if someone followed Harrison's advice (it's easy to read between his lines) over a year and didn't get too aggressive, then they'd have a great chance of out-performing 90% of the money managers out there today." wouldnt it be nice to know if todd himself has made any money? at this point we have no idea.
Colonel, I tend to agree with your comments on Toddo, but what is Faber talking about? That's why people go into hedge funds and that's why they have the incentive fee structure they do. If you want to just go with the flow, you can buy an index fund.
AAA What Faber was implying is that everyone expects to make money all the time and investors on the whole are impatient. His argument is that the serious money made over the last 20 years has been made by getting on the big moves and maybe you're early or a little bit late (either is very likely), not by trying to game every 5% move up/down. However he's obviously referring to investing more that trading, which is a different game I'll admit. With trading there are good times and bad times and nobody is hot all the time, or maybe different markets suit different people/styles. The trouble is that for most of us we want trading to be like a paying job when every month we get a steady paycheck (like a normal job). Harrison was good up until the war rally, now he's cold, but over a year I think the worst he'd do to someone following his advice is make them break even. For anyone that's got a spare hour go and listen to Faber's interview, he makes some good points about the game and obviously puts his points over better than me. http://www.financialsense.com/Experts/2003/Faber.htm
Just curious how Toddo is handling the market right now. IMO we are at an inflection point (to lower) but would be interested in what he thinks now. Has anyone found the Rosetta stone to decode Toddo's writing?
I must say I'm tired of trying to decode his writing. I find myself skipping over a lot of it particularly his conversations w/ the Minyans. I like his site and think he provides a great service for the price, I just wish he would be more to the point.