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Good post, Patrick -- I don't see any flaw in your reasoning.
I currently subscribe to Steve Briese's "Bullish Review" newsletter.
One of the things I like about him is that he candidly admits that one
of the goals of publishing the newsletter was for it to pay for his
basic living expenses so there would be no pressure to live off of his
trading. I suspect that many other newsletter authors write for similar
reasons.
These trading "gurus" may not be selling us their best methods or
"walking the talk" 100%. However, the reality for a beginning trader is
to either purchase their books, video tapes, seminars, etc., or face a
very steep learning curve. Like many of you, I have purchased software
and books that are collecting dust on my shelves. Hopefully, objective
reviews presented here at RealTraders will help us select the more
useful trading materials for sale out there.
Brad Dingee
>Date: Fri, 27 Feb 1998 08:13:20 -0500
>Reply-To: pslevin@xxxxxxxx
>From: Patrick Slevin <pslevin@xxxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Subject: Re: Promoters
>
>Generally I try to stay out of discussions of this nature, as it oft
>seems to be a chicken-and-egg question. I'll give it a shot one time.
>Perhaps my reasoning has a flaw I would like to know about.
>
>Many people read books, buy newsletters, and attend seminars to
>understand trading concepts. The presumption that these people would
not
>be selling information that was worthwhile ( because, as you say "if
>your software or system or book is soooo good, why aren't you so
wealthy
>you don't give a shit about the rest of us by USING IT INSTEAD OF
>SELLING IT?") is to say that
>
>Authors like John Murphy, Larry McMillan, Martin Pring, Bill Eng, et
>cetera should be avoided.
>
>Seminars provided by Larry McMillan should not be attended.
>
>Newsletters by McMillan, Gene Inger and so on should not be subscribed
>to.
>
>Now, I don't think anyone would seriously argue that these people don't
>have talents or systems that are worthwhile. Why are they selling the
>information? Perhaps because;
>
>-It's profitable (I understand L. Raske, uncertain of the spelling,
does
>not actively trade any longer. She makes more money selling
>information.)
>
>-It's rewarding emotionally.
>
>-In the case of seminars, feedback is available that hones the skill of
>the preesenter of the seminar.
>
>-In each of these (Writing books, giving seminars, selling newsletters)
>the upshot for the provider is the reult that his/her skills are kept
>sharp.
>
>...and perhaps a dozen more. So personally I understand the viewpoint
>that "if it's so good ...why sell it". But if you apply that across the
>board, what would be worth reading and how would we learn?
>
>--PJS
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