CNBC's Fast Money - pulling a FAST ONE

[jebara]

Hey talk is cheap. They can say whatever they want, most people dont trade on there ideas or follow them. So when they hype there good picks everyone watches.

 

[William Rennick]

Quote from rhymeswithorang:

Its a lot like this board, everybody makes money and is above average looking.

LOL!!

 

[naz9403]

exactly, every thread turns into a pissing contest. If you wanna boast post your returns like r metal. I can't boast at all about my trading, not even close to the level that the respected people of this forum are, but everyone loves to start shit with the idiots who are obviously losers not only in trading but in life as well.

 

[ddunbar]

LOL! BSmeter wins!!!

 

[ssternlight]

Quote from syswizard:

Yeah, but no one is tracking their NET profits and performance. Plus, if you've noticed, the stocks recommended for a long position almost invariably go up the next day. So there is a huge bias to be accounted-for as well.
As far as: "..and some would even be adding". Uh, isn't that a form of martingale betting...which I believe has been beat-to-death on this forum with the conclusion being "don't do it" unless you've got deep, deep pockets.
You know what, maybe I'll start-up a website just for the purposes of tracking these guys. I'll have the date/time of the call, open position profit/loss, closed position profit/loss, YTD profit, # of winners, # of losers, %win, average win %, etc.
www.fastmoneystats.com

Good idea. You might add Cramer's picks as well.

 

[nitro]

Quote from bsmeter:

<a href="http://imageshack.us"><img src="http://img251.imageshack.us/img251/4497/dependsformenae2.jpg" border="0" alt="Image Hosted by ImageShack.us" /></a>

Sorry for my ignorance, but that the hell is that?

Guards for men?

nitro

 

[RichardRimes]

are you serious nitro...diapers:eek:

 

[nitro]

Quote from RichardRimes:

are you serious nitro...diapers:eek:

Diapers for men? I am 100% serious. Why do men need diapers? Is that for men that have enlarged prostates?

nitro

 

[efficiency]

Quote from syswizard:

My beef: None of the losing recs are getting mentioned or tracked. I'm massively short GM and XLF from their recs 2 weeks ago...look at the charts. I'm getting CRUSHED.
Get this: when I send in an email to fastmoney@cnbc.com all I get is an automated reply which indicates to resend the email. I do this, and guess what ? They send out the same lame email and so I can never get through to them. They seem to be screening negative responses !
Bogus, I say. Anyone can look good by ignoring their losers.

"massively" short? First clue is lack of concern over position size. A/k/a greed.

GM is one of the best performing Dow stocks. Time to short it was last year.

Shorting an ETF is ....................fill in the blank. Unless the bulk of components its comprised of are tanking, potential gains are less than ambitious.

Isn't "ignoring their losers" and "getting crushed" pretty much the "pot calling the kettle black"? Are your 330 posts (thus far) worth reading?????????????

 

[Bernoulli]

I treat this show like any other financial show or the market pages of the Wall Street Journal. I look for clues to what people are thinking and doing, what is driving their trading decisions. When a consensus forms then is the time to watch out because the market is likely to do the opposite. A good example happened last week when all four were bullish on oil. If that isn't a warning to avoid being long oil I don't know what is. This week I see that Bolling was short oil.

The pros make the same mistakes as the ams, the difference being that they realize it and adjust. The ams hold on, praying for the chance to get out.

WSJ works the same way. Whenever all the "experts" are quoted being worried about inflation the morning a price number is released, I'd be thinking about being long before thinking about being short; the odds generally would favor some kind of bounce. But then I might change my mind later . . . .