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June 30, 2011 – Comments (19)

I am dismayed by the large number of posts by bloggers who wear beanies.

Why should I care about about the thoughts of those who cannot maintain a decent portfolio?

19 Comments – Post Your Own

#1) On June 30, 2011 at 2:53 PM, awallejr (82.76) wrote:

Well many are really trying to advertise their websites.

As for the "beanies" in general some are just testing ideas with their portfolio.  It's fake money afterall.  That doesn't mean their thoughts aren't worth listening to.

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#2) On June 30, 2011 at 3:14 PM, kdakota630 (29.86) wrote:

Generally speaking that's decent advice to follow if you don't want to read every blog, but there have been some excellent bloggers that have had beanies.

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#3) On June 30, 2011 at 3:25 PM, XMFSinchiruna (27.99) wrote:

I had a beanie. In fact, I came crazy-close to becoming the last-place scorer in CAPS.

I wear it like a battle scar. :)

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#4) On June 30, 2011 at 3:30 PM, XMFSinchiruna (27.99) wrote:

P.S.  Boo to the OP!

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#5) On June 30, 2011 at 4:59 PM, ChrisGraley (30.30) wrote:

Better to make a choice based on the content than a choice based on the beanie.

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#6) On June 30, 2011 at 6:46 PM, chk999 (99.98) wrote:

I wish we had an ignore function for blogs so that I could put the people pimping their websites on ignore. There are some good posters with beanies and some terrible ones and I'd like to not have to see the terrible ones.

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#7) On June 30, 2011 at 7:21 PM, truthisntstupid (94.07) wrote:

Perhaps this one to start with

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#8) On June 30, 2011 at 8:05 PM, TSIF (99.96) wrote:

I've had the beanie a few times.  I think there's a boomerang built in it.  Sometimes the blogs written by beanie wearers can be new players just getting a reputation, or they can be by beanie wearers giving good advice on how not to be one!

But I do agree that sorting through the Beanie heads trying to recruit followers is a pain.

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#9) On June 30, 2011 at 11:19 PM, TARPedBanks (< 20) wrote:

I had a beanie. In fact, I came crazy-close to becoming the last-place scorer in CAPS.

I can top - er, slide under that :)

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#10) On June 30, 2011 at 11:22 PM, TMFUltraLong (99.96) wrote:

My UltraChina call may wind up the worst call on this site, so I have a beanie....kinda, sorta, maybe....

TMFUltraLong

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#11) On June 30, 2011 at 11:30 PM, TSIF (99.96) wrote:

TarpedBanks...what if you had downthumbed them instead of upthumbing them?   ;)

Ditto UltraChina!

Pretty good accuracy the other direction......  ;)

Guess that would have been less interesting....

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#12) On July 01, 2011 at 9:02 AM, outoffocus (23.66) wrote:

Well coming from someone who rocked a beanie for like 2 years (during the worst recession since the Great Depression mind you) I think the original post is quite unfair.  I was quite new to investing when I came to CAPS. Also when I first started the CAPS game I wasn't fully aware of how the CAPS game was scored.  Therefore I made mistakes in the beginning that I never quite recovered from.

If every CAPS user had your attitude I think I would have left CAPS a long time ago.  Blogs arent always written to give information, but to gather information as well. Your blog is a prime example as it ends in a question.  Thanks to the many unbiased people on this site I've been able to learn more about investing from CAPS then from any other investing site. 

To say that someone who has a beanie is not worth listening to is like saying just because a stock has a low P/E, its a worthwhile investment.  You are judging a book by its cover.   Heck many people on here don't listen to Alstry and he had 99 rating for a long time. 

Just like researching a stock, you need to do you due diligence on a CAPS player before you decide to dismiss them.  Maybe their expertise isnt in stocks, but their expertise could be in tax.  Does their lack of stock portfolio prowess discredit their tax knowledge? No. Its apples to oranges. 

So if you are ruling people out based on their CAPS rating then I'll have to caution you that you will miss out on what many CAPS members have to offer.

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#13) On July 01, 2011 at 1:40 PM, walt373 (99.76) wrote:

I think luck plays a very large role when your track record is only a few years. Not making excuses for my own score though, pretty sure a lot of that was due to ignorance, not bad luck. But I know I am still learning and I think I can contribute to discussions.

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#14) On July 01, 2011 at 1:46 PM, Borbality (45.98) wrote:

Have to mention that dumberthanafool sometimes has the beanie, but he is strict about his CAPS picks being only the ones he has in his real portfolio. He also seems to write almost exclusively about large cap and value stocks, so that will reflect in his score.  He does a lot of research and offers lots of good info for this style of investing. 

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#15) On July 01, 2011 at 2:38 PM, miteycasey (35.21) wrote:

I think the OPs main point is we need some sort of spam filter for the blogs, or an ignore feature.

 

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#16) On July 01, 2011 at 2:56 PM, Momentum21 (96.83) wrote:

I would rather sort through the bad blogs than give more credibility to an all-star rating then it deserves.

I can think of a few 99+ ratings on here that have probably lost some folks a ton of money by pumping individual tickers out of context. Each person has to take responsibility for his/her actions of course but score is only one component of the contribution. 

There are quite a few 99+ ratings who are also afraid to make a pick because they think the rating makes their rants more relevant.  

There should just be a "bad post of the day button" where each member gets one shot at nominating a dunce. Those points might show who to ignore or who to read for entertainment if that's your thing. 

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#17) On July 01, 2011 at 3:58 PM, TheDumbMoney (47.43) wrote:

Borbality, thank you, though I should be given no leeway because I pick large caps and value.  The goal is to outperform.  If I can't, I suck.

My argument for myself is that when you look at my comments sections on my picks, I always note when I make further purchases and sales.  My portfolio here is only RL, and CAPS only marks your first pick.  So for example on Pfizer (now closed), I did far superior than my CAPS score would indicate.  That is because I purchased additional shares at less than $16/share.

Similarly, on Microsoft, my losing score there does not reflect the fact that I am currently up about 70% or more on some call options I purchased in June.  Or my ISRG score does not reflect that I added to that position at $256 or so, after my initial opening call at $286ish.  The only way to see that stuff is in the comments to my pitches, because CAPS is not intended to track a RL portfolio. 

My second argument for myself is that I may suck at picking stocks (though I have generally matched the S&P over the last 1&1/2 years, while in my view taking on way less risk of downside than would be implied by holding an S&P index fund), I feel I have a better understanding of macroeconomics than many of the high-ranked players. 

Without naming names, there is a 99 player who thinks that if we change the metalurgical composition of a nickel that is a debasement of our currency in some way.  I mean, yeah.  One can only wonder what this person thinks of the fact that the paper in a 100-dollar bill is not actually worth $100.  Edwjm, if you want to spend all of your time reading that blog, go wild.

I could give plenty of other examples of objective, flat-out ignorance like that, up and down the score ladder. 

More fundamentally, the point here is to learn.  So you should read the blogs of low-ranked players so you can tell them why they (we) are morons and why they (we) are low-ranked.

The people who really irritate me are the "investment advisors" who post their letters and stuff on this website.  Any investment adviser who is attempting to advertise by having a Fool account is, well, not someone you need to put your money with.  Who do these people think they are fooling? 

And...ALSOI ....hate's....Alstry more fundermentally.  In udderworlds, WHAT I mean by that, is I wouldsy.....hait....hjim...even IF he had a 99 rating... ...

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#18) On July 05, 2011 at 10:51 AM, edwjm (99.87) wrote:

In the second to the last paragraph of comment 17 it says: 

 

The people who really irritate me are the "investment advisors" who post their letters and stuff on this website. 

 

Those are exactly the ppl I had in mind in my post!

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#19) On July 06, 2011 at 3:17 PM, Starfirenv (< 20) wrote:

I ignore people wearing brown shoes. Frank was right.

Frank Zappa - Brown Shoes Don't Make It - 1979, Munich ( ...

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