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A few years ago I saw a movie based on just this idea. the last guy made a
mint.
Lionel Issen
At 04:22 PM 2/10/98 -0600, diamond wrote:
>A golf instructor told me this story about a newsletter stock picker guru.
>
>A stock picker guru writes a newsletter that he sends off to 10'000
>customers each week. Each week he picks ten sure winner stocks that he says
>are going to go up that week. (And everyone pays for the weekly
>newsletter.)
>
>When the week is finished, he had guessed five winners and five losers.
>5'000 customers of his newsletter had, by chance, bought stocks on the
>winning side of his calls so they take his newsletter another week. The
>other 5'000 customers had, by chance, bought stocks on the losing side, so
>they drop his newsletter.
>
>The next week the same thing happens, he had guessed five winners and five
>losers. Again, half his customers are winners a second time and they send
>in their money, the other half are losers, so they drop his newsletter.
>
>This same thing goes on week after week, 2'500 winners, 1'250 winners, 625
>winners, 312 winners, 156 winners, 78 winners, 39 winners, 19 winners, 10
>winners.
>
>Those last ten newsletter customers are going to swear to you that this
>stock picker guru is a genius because he has picked winning stocks for 10
>weeks in a row.
>
>
>When I heard about the E-Trade contest and how some contestants were doing
>so well, I thought of this story. There is a moral here somewhere, but I'm
>not sure just what it is.
>
>
>Regards
>Zane Kori
>
>(Disclaimer: This story is to entertain, not offend.)
>
>
>
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