Quote from Rearden Metal:
He isn't even a pure snake oil salesman, because he probably thinks his products will help people.
Oh come on, you are smarter than that. I would actually believe that if his story wasn't full of holes and his rhetoric had any real integrity instead of sounding like a cheesy broken record reeking of cheap sales tactics. He may be lying to himself as well, to help the story, but in the end, it's all lies.
1) He is shutting down his "fund", which is mostly his own money, claiming that his strategy is not scalable. Basically, he gave up, because there is no pressure whatsoever from outside forces to shut down his "fund", as it's not a real hedge fund by any way, shape or form.
2) On the flipside, he claims that 1000s of people can make money on the same strategy that is not scalable. I mean, this is just a play on gullible & naive newbies, because it's obviously not possible for even a significant minority of them to get any proper executions or fills.
3) His personal accounts would have been open by now if he had any real motive to really do so. Instead he spends time deleting "factually innaccurate" reviews on Amazon and playing his broken record rationalizations on ET. It's obvious he has real incentive to do so, he will do it just as a cover to hold off criticism and try to sell more crap. It is clear that the guy will not risk any significant cash on his strategies.
4) His ultimate response to any valid criticism is "Buy my book and DVD to know facts". I find it pretty funny that expects people to fall for that. That just reeks of desperation. Then he turns around talking about "No BS" and how he is 100% open to criticism about his shortcomings, and then again flips back to "you must buy my book and DVD".
5) His "stock calls" are ambiguous, common of any snakeoil salesman. As expected and forecasted by certain ET members, he made some calls, only mentions the correct ones and claims that the wrong ones were never really calls, just "stocks to watch".
Really, what is so different about him from any other snakeoil salesman? Jim Cramer always talks about getting the viewers rich, educating them, how the Wall Street analysts are BS, the market is wrong, noone knows any better than him, cause he is the real deal, he cuts through the Wall Street BS and blah blah blah. All in spite of the money his newsletter followers lost during the tech meltdown and the lawsuits that followed. Let alone his completely random stock picks that have no track record, really a losing track record due to the pump & dump effect. Well there is a difference, Jim Cramer on rare occasion does share real insight, as controversial as it may be.
Watch, now Timmay will respond to this post with his standard broken record rhetoric of ambiguous rationalizations, requirements to "Buy his book and DVD to know the facts" and excuses of CYGT. I tried to hint some advice to him as I will not blame the guy of taking opportunity of the 15 min of fame he was granted. But there is an honorable way of doing and a sleazy way of doing it. Pretty obvious which way he chose.