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Austowne wrote:
>
> Jim,
>
> Thanks for your comments. Is there anyone out there just getting started and
> not knowing where to turn who has not fallen prey to a glossy ad in one of the
> trade publications? They're gorgeous aren't they. All those pretty colors.
> Buy at this cute little green arrow....sell at this red one...We all know, as
> well, that the old saying "if it sounds too good to be true, it probably is"
> likely applies to this situation, but reason is obfuscated by the blur of
> "mine, mine, it could all be mine!" emotionalism and we proceed to cascade
> over the cliff along with all the other lemmings.
>
> The SEC should rule that the priviso/disclaimer you always see attached to
> futures promotional literature needs to include a disclosure with respect to
> the relative income accrued from the promoter's use of his own system versus
> that from the promotion itself.
>
> Dave
Dave,
What's your point? That people interested in trading are idiots and
that our society needs more government regulation? I think to the
contrary. Government regulation tends have the opposite effect of its
intent. Government regulation usually tends to protect, by virtue of
government certification, the biggest and best con artists. A perfect
example is Wall Streets' swarm of analysts who are needed in order to be
in complicance with "prudent man" & other government fiduciary
regulations. Millions of dollars are spent every year to produce tons of
worthless reports by "reputable firms" that mislead investors with tons
of out of date or useless information. Many reports are done with the
knowledge that the brokerage firm holds a large position in a particular
security and they want to market it to their customers so the firm can
sell at a profit. This is all done under the guise of government
regulation. It just goes to show that the best cons are just like cock
roaches, you can't kill them, they will adapt to whatever you do to
them, and the tougher you make it for them, the tougher and stronger
they get. I would rather have all the pests out in the open so I can
make my own judgements as to which insects are beneficial to the food
chain and which are just parasites.
Contrarily,
Norman
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