Quote from mrmarket:
Please educate all of us, including myself, on just what it is I am selling.
The truth is, MrMarket is indeed doing some "selling" here.
His is selling himself to himself. Or at least trying to. Desperate for attention, he comes here and tells everyone how great he is. Why? Obviously he has a HUGE need to compensate for his lack of self esteem (which is understandable...imagine looking in the mirror and seeing the "missing link"...evolution failed MrMarket
)MrMarket tries to get everyone to look at how well he has faired in some "hot or not" poll on some site for pathetic losers. But as has been observed by someone here, the guy logs on every few minutes...obviously to vote for himself.
In all seriousness, the truth is that MrMarket, even if he is everything he says he is (which is very suspect at the least), has nothing to contribute to a message board for professional traders. What he does (if he actually does it) is fine for investing. But very few of us here have any need for his methods. There are mutual funds and unit trusts that we can use for our IRA and UGMA accounts. If we have enough money, we are in fixed income for the long term (Preservation of wealth).
We can all do our own fundamental analysis and pick stocks to buy and hold. Hell, just buying and holding an index fund will likely (I would bet heavily on it) outperform MrMarket's "portfolio"over a substantial period of time (5-10 years or more). MrMarket does not seem to acknowledge that fundamentals DO change. Holding losers forever is a deadly mistake. Totally unprofessional.
What in the world does MrMarket have to do with trading? Why does he feel the need to haunt this site? Does MrMarket know what shorting a stock is? Or even what a buy-write is? He has admitted he is not a licensed securities person, which would imply that his true knowledge of trading is certainly less than that of the average ET member.
As for he 5 million (or whatever) consecutive winning trades and his statement "cutting losses is for losers", I would love nothing more than to play poker with this guy!!!
Peace,
RS