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Who knows what Fleckenstein's results are, Prudent Bears is truly dismal,
and
should be better.
Fleckenstein is a realist though, and does do market research, and
understands the 'system',
whether or not he is a good trader is another question. I think his daily
post is excellent,
and needed in this truly sick market, full of glib, clueless gamblers who
appear to be good traders.
I for one, am quite tired of hearing all of the anomaly 'success' stories on
CNBC, and not hearing the 'real deal' (thousands of folks losing their
shirts, homes, marriages, etc... in this market.)
It would serve you well to read his articles daily in order to put down your
rose colored glasses, at least for 30 minutes. It might save you some
money, especially if you use CNBC for investment direction.
JT
----- Original Message -----
From: "Dennis Holverstott" <dennis@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, July 15, 2000 10:35 AM
Subject: [RT] Re: Fleck sez
> > Mr. Fleckenstein is also a Director of Go2Net.
>
> Anybody else see the irony of that? :-)
>
> Too bad old Fleckenbear doesn't make the results of his hedge fund
> public. I think it would be very interesting. Somehow I think, if his
> results were any good, we would hear about them.
>
> Every time I start thinking the permabears might know what they're
> talking about, I like to pull up a chart of another CNBC permabear,
> David Tice's Prudent Bear Fund vs. the Dow, the S&P and the Naz, just to
> remind myself how "right" they've been in the past. Hard to read the
> labels on this one but here's a hint.... BEARX is the blue line. The
> "fools" who put $10K in the Naz in late 1996 (BEARX inception) now have
> about $33K in their accounts. The "smart people" who put $10K in BEARX
> now have about $3K. So, going forward, BEARX is going to have to
> outperform the Naz by over 1000% just to catch up. Sheesh, with all the
> shorting opportunities over that period, you'd think the guy could do
> better than losing 2/3 of his customers' money.
>
> Bottom line, money talks, BS walks.
>
> --
> Dennis
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