re: For all those poorly misguided do-it-yourselfers

I'd be honored to. W/r/t your first link, you claim :

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If you think that DIY strategy for investing works, then check out the morning star report about the actual dollar weighted return of individual investors versus the actual rate of return of a mutual fund:

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In reality, that article's headline reads "Another Reason Why Chasing Past Performance Is Bad" which is basically all amsterdam does. Moreover, the basic thesis of the article is that if "investors waited until the fund performed well before buying in, and then sold their shares when the price was lagging, then their dollar-weighted returns would be lower than the time-weighted return."

So, in other words, if you buy at the highest point and sell at the lowest point, you'll lose money. My God! Why didn't the guys at motley fool warn me about that!

Of course, it's doubly ironic considering that guys like you and amsterdam were screaming "buy buy buy" in late '07 and early '08, when the Col. and JT were recommending going into cash equivalents. In other words, it was you guys who wanted to buy at the highest points.

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I call B.S., and even if you did it thru equities you will not sustain that rate.

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What you dont think he will sustain 200% a year.

Any other brainbusters for us?

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I call B.S., and even if you did it thru equities you will not sustain that rate.

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I will vouch for him. He pulled in some serious jack last year, but it was a very risky profile. Playing with options and what not.

And he has stated multiple times that he expects to earn 20% on his risky assets.

First it is always a good time to buy...

Second not Ed Jones...

Third, can't post CV, too many people would know who I am.

Fourth, five years is only significant if you bought it then, but not to exam a money management style over a complete market cycle.

Fifth, what the morning star points out is how YOU the investor actually have your returns diminshed by your own time. It is the actual average returns during that time frime, not just the best and worst cherry picked.

Sixth, past performance does not dictate future. that just means since it averaged 10% in the past I cannot say it will in the future. But I can see how the management philosophy and metrics faired in in specific conditions.

Seventh, COL again a one year return is utterly and completely useless. If you put your money in a 5% cd you beat the market last year, but you will not over the long run. Its like going to a casino and saying you won 2 grand by betting on black. Keep going back to the well and you will get burned by probability. congrats on a solid year though.

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Seventh, COL again a one year return is utterly and completely useless. If you put your money in a 5% cd you beat the market last year, but you will not over the long run. Its like going to a casino and saying you won 2 grand by betting on black. Keep going back to the well and you will get burned by probability. congrats on a solid year though.

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So an individual picking himself cant win, but an individual who charges others to invest in his fund can.... is that your hypothesis... it is the receipt of paymnet that magically allows an individual to make appropriate long term selections and institute a successful strategy?

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I told him that there were guys on here that were salesmen, engineers, college students, and the like who call you an idiot all day long. Some have even been doing it for a whole year now.

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You don't know what JT does for living do you?

eta: I work in fast food, which you conveniently omitted.

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You don't know what JT does for living do you?

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Thats cute, apprentice huh? FYI Ive been in the business longer than him. Dont get mad that I unleashed the beast.

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Yet you had to go to him for information to debate. Hmmm dont worry we cant all be as successful and knowledgable as others.

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Forget the fact that we do this every single day, and can practically back up what we say thru real life experiences,

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ie anectdotal evidence. Very impressive.

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you guys have read a few books and blogs and have really cool theories.

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Yes we all know we cant match the almighty spoon fed rhetoric (now atleast we know who is holding the spoon).

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He is much better at debating an issue anyway.

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Now dont set that bar too high

My profession was omitted (business finance/cpa)... i feel so left out.