Today, we engaged in one of the most mind numbing, “we got dumber reading & having to endlessly reply to someone’s misinterpretation of our post,” type of days on Twitter. It follows some bizarre replies we received following a post made days ago regarding “Tracking One’s Blog.” Each contributes to our waning desire to be active participants in the Social Stock Trading Media, as the focus has now skewed WAY too far toward “style” over “substance.” This change, however, is to be expected. “Style” people have trouble with the Jung term “actualization;” those who are completely open, honest, fully transparent & successful all while willing to call out their own losers, short comings & misreads.
Think for a minute how worthless a TwitPost would be if it read “phenomenal trading week thus far” or “nothing like a good sell off to reveal how good (or lacking) your PM skills are” … but the writer never posted any trades during the week nor had they ever shared or posted anything allowing you to gauge Portfolio Management skill. Think for a second minute about how worthless a Blog Post is stating “I took profits last week & moved clients to 100% cash” & “I’ve had a great run lately & don’t want to give anything back” by an author who’d never shared in a preceding Blog Post any entries, exits, positions or idea performance tracking so you, as a reader, could attribute validity to any of the claims. Pointless & valueless are both.
To that end; hasn’t anyone ever been curious enough to plot the performance & track record of the very “Bloggers” you all fawn over RT, heap praise on, congratulate for being on TV & in general, look up to like they’re Jesus Christ or some Latter Day Saint? Probably not but even if you did, who offers up that kind of detail? We know of only one, Eddy Elfenbein’s annual Buy & Hold list. It was an ironic encounter, seeing this lone example last year; Eddy self posted & was “patting himself on the back,” praising his List’s returns. The post was heavily RT’d, made it’s way on to our stream & fans of transparency + excited about the prospect of RT’ing a “popular Twitterati Blogger,” our euphoria was dashed by that bugger of a thing that drives our business – performance (in this case, lack thereof). It took less than a minute to cross reference Eddy’s List performance to that of the S&P only find he trailed the S&P over the same period (NOTE: Folks, when you’re underperforming, that’s not when you make “noise.” #Duh).
THE “WE DIFFERENT”
Sad as the examples above are, our sporadic & rag tag Blog didn’t have a performance tracker on inventory either & that’s why, today, we offer up something no one else we can find who writes a Stock Trading Blog does – for better or worse – the track record of every single Blog Post idea we’ve made, the track record of every single Insider PIGGYBACK Notable Buy Strategy post we’ve made & the track record, as we’ve posted for over 3 years, of all trades > .5% AUM we’ve run. With no futher fanfare ….. transparent performance posts that don’t exist elsewhere in the Social Stock Trading Media (with returns that aren’t half bad, eh?);
1HFY13 Realized Performance (includes supporting trade documentation – with a time stamp – so you can look trades up on Social Media): +20. 21%
Q3FY13 Realized Performance w/ Open Trades into Q4 (includes supporting trade documentation – with a time stamp – so you can look trades right up on Social Media): +1o.3% (Audit Pending): +10.3%
All Blog Posts – Detailed Idea Generation with entry, stop, target & time horizon from Q1, Q2 & Q3 FY13 (includes supporting trade documentation – with a time stamp – so you can look trades right up on Social Media): Wow, find a comp for this –> +70.95%
All Insider PIGGYBACK Notable Buy Strategy – 1H13 (includes supporting trade documentation – with a time stamp – so you can look trades right up on Social Media): +17.2%
All Insider PIGGYBACK Notable Buy Strategy – Q313 (includes supporting trade documentation – with a time stamp – so you can look trades right up on Social Media): +11.5%
POST SCRIPT: We don’t post these because we think we’re “the best,” or because we believe we’re “better than anyone else,” nor to “show off, grow a subscriber base or raise assets;” we post these because we feel a responsibility to those who follow, track, update & inventory ALL the ideas we’ve written about at length. Responsibility & accountability are very simple concepts. One day, maybe more Bloggers will take the time & do the same … THEN you’ll have the proper information to know who is “good” or “worth RT’ing.”
Readers, consider doing a little less RT’ing, interacting with & supporting of folks just because they’re “popular (style)” & pay more attention those who are responsible & accountable (substance); folks who document trades, offer a track record, provide thorough trade plans in their Blogs, educate in the face of realized or unrealized draw downs & leave behind those who pop off with BOOM, BAM, YAHTZEE or POW everytime they have an up trade. Enjoy those with experience running real money – guys & gals with audits + a track record – & stop fawning endlessly over pikers who “shotgun” the stream 20-30 ideas each night only to, the next day, pick out the 3 that “worked” (while burying the WOOD, of course). Applaud those who shoot with the rifle, not the shotgun.
Finally, on the topic of transparency & performance, we’re well aware there’s folks – managing similar size or larger money than we are – who are outperforming us. There’s ALWAYS room for improvement. Understand the self reflective value in someone willing to tell you “what we’ve got to fix” or “what we need to adjust in OUR OWN portfolio,” as it’s just as important as an impressive track record. Humility, the ability to change, self examine, the capacity + willingness to engage & learn from others are characteristics not only see in good people, they qualities that all successful PM & HF managers possess. Performance alone is never enough, always be looking to improve and let’s hope over time the Social Stock Trading Media becomes more open, honest, transparent & self reflective on both performance & things to improve in the future.