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Last month Futures mag surprised alot of people by printing an honest
negative review of the the latest crap self-promotion book from Bill
Williams. From personal experience and alot of wasted time in the past I
can assure you that the review was correct. Some people here said,
cynically it seemed, that this was able to happen because BW did not give
them ad dollars.
Well guess what. This month BW has an ad in their mag, and low and behold -
they print 2 long letters to the editor (I strongly suspect, because of
their style and lavish wording, written by BW himself!!) glowingly praising
his trading prowess, his courses, etc etc. I have never seen so much space
devoted to free testimonials before. I could puke because it is all lies -
and BIG ones at that!
Goes to show you the cynics were right!! In this industry the pretenders
can buy their way to respectability. (Not to mention the good-old-boys
network of vendors who scratch one another's backs, often for kickbacks,
etc. etc.)
Whether it is TradeStation, or data providers or vendors of systems, or a
market guru, it is important to stamp a very very large CAVEAT EMPTOR
(buyer beware) on EVERYTHING that you get pitched at you! Not just in the
industry rags either - from ANYWHERE!
What goes on in the business is truly disgusting. In most other industries
most of these things wouldn't be tolerated. Run the bums out of town.
There are plenty more like BW out there. In fact, probably the rule rather
than the exception. Sad but true. The risks of trading are not just in the
markets! It's a big risk just trying to get through the jungle to learn how
to trade. We don't need fraud on top of the inherent difficulties of trading.
That's why I am also in favor of Mark Brown's rantings on this list. He is
uncouth but certainly the scam artists out there need exposing. He's like
the little boy shouting "the emporer has no clothes!" Also sad but true. I
appreciate honesty in all areas of my life and relationships. I want it in
this business also. Don't find much though.
David Cicia
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