Mark Hulbert writes about three big name newsletter writers at Marketwatch (link): Howard Ruff, Jim Dines, Harry Schulz.
Even though the economic picture has unfolded in ways they have been predicting, they rank near the bottom for year-to-date performance.
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Of the 181 newsletters on the Hulbert Financial Digest's monitored list, these three advisers' newsletters are in 173rd, 175th, and 176th places for year-to-date performances through October 31, with losses ranging from minus 64.9% to minus 70.0%.
How can this be?
The easy answer is that these advisers didn't put into their model portfolios the securities that would benefit from the financial collapse that they envisioned.
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So while some may get macro economic predictions correct, it is not always so easy to translate that into trading profits. I learned a long time ago that in trading it is better to lucky than good. The caveat is that few folks remain as lucky the next cycle.
The stock market took another beating. As I have been writing, I am looking to go long at SPY 80 (another five points lower or so). As always this is not advice, and depending on how it gets there, my opinion may change.
No trading positions
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