Timeline of a whistleblower

[jim4silver]

The hangup is really only about the initial perception. Like I said, would anyone have listened to him if they thought he was just some guy sitting in his basement? Maybe, maybe not.

There are countless people out there who are right some of the time but never right all of the time. At different points in the market's history it has been easier to be right than at other times. People like Jim Cramer come to mind when I think of people who get way more notoriety than they likely deserve because they happened to be at the right place at the right time. The markets, media, and blogs are full of people who got lucky with a prediction or two. Most of these people are wrong 99% of the time and just get by through highlighting the 1% of the time they are right. They conveniently ignore all the times they are wrong.

So is Maguire really any different than anyone else? I guess only time will tell.

I am not saying anyone is different. The original story here was that this guy was a complete fraud and that maybe some of the online PM bug sites were promoting some charlatan knowingly (at least that is how I looked at it all). From what I have read about Maguire I would not call him a charlatan with respect to his metals trading "credentials". So far his trading service has had good results via his calls in paper metals markets.

The guy was willing to put his a$$ on the line and testified regarding alleged manipulation. I am not saying I endorse his views or not, but I give him credit for taking a stand.

PS Regarding Jim Cramer, the guy is a genius. Read up on him and watch the youtube video where he talks about how his hedge fund traded. Pretty interesting. With respect to the accuracy of his stock picks I don't follow that. But the guy is very smart.



Just my opinion.

Jim

 

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[TreasurePirate69]

I never said I thought Maguire was a charlatan. I just don't think he is anything unique. I think he is just another independent trader who probably got lucky. After all, even a broken clock is right twice a day. As for Cramer, I'm not impressed. I think his recent record speaks for itself. He has earned the reputation of being someone who you are better off "doing the opposite" of what he says. That doesn't mean he isn't smart. I just don't think he is very talented. He became famous playing and calling the market in a time when just about anyone could call the market. When the market is heading straight up it is hard to be wrong about the direction of the market. It's when the direction of the market is oscillating back and forth that it takes a real talented individual to tell you where it is going to go next. So far, Jim Cramer has been pretty far off of the mark in recent years.

All just my opinion.