Saturday, August 22, 2009

Dogbert The Portfolio Manager

As usual, it's funny because it's true. This is similar to the advice on how to start an investment newsletter. Buy a large mailing list. Send a free sample newsletter to half of the list screaming that the market will go lower next week. Your free newsletter for the other half pounds the table that the market is going higher. At the end of the week, send 2 new missives out only to those who received the "accurate" first newsletter. Tell half that the market is going up and the other half that it's going down. Wash, rinse, and repeat a half dozen times, and you end up with a subset of that initial mailing list who think you're a genius and may be ready to pay big bucks for your infallible advice.

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