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I was thinking. Now that the junior gold sector is getting its bum whooped by the cruel mailed fist of fate, wouldn't it be nice to go back and see who recommended the really, really shitty stocks that have tanked 75-90%?
I mean, Brent Cook notes that for a year or two after 2008, any idiot with an acre of moose pasture could own a junior resource company and make a fortune; now we're seeing most of them, the companies who had nothing, disappear off the face of the earth.
Well, analogously to this: for a year or two after 2008, any fucktard with internet access could start a junior resource blog - or newsletter - and make a fortune. So shouldn't we also see most of those guys, the analysts who had nothing, also fall off the face of the earth never to be heard from again?
Are we about to see, that is, the Great Cull of Idiot Analysts?
With that in mind, I remembered that there's a fun little site called Stockchase. It is more-or-less an archive of stock reccies from days gone by. Not everyone is followed, not all stocks, not all analysts; hard to find any of the "professionals" from Canaccord, for example; and I don't know if it's just a volunteer-run site, and perhaps the volunteers have all up and quit now that they're making money of AAPL instead.
But you can still type in a stock's name and see who were some of the tards who recommended it. It even gives the date of recommendation, and what the price was then, and what the price is today.
Ain't that grand?
So let's take a look:
Baja Mining (Today's price $0.14): Lawrence Roulston's been pumping it from $1.66.
Canaco Resources (Today's price $0.35): Dennis DaSilva called it a buy at $1.11. Worse, James West called it a "strong buy" at $1.66.
And you can also go into more detail, and follow the anal yst through his history, looking at all his other picks.
This way, perhaps, if you can think of a few dozen juniors whose prices have utterly collapsed, you could perhaps take note of the bozos who've recommended them?
Just to let you know, StockChase is updated daily, and is only historical, because we've been doing it so long. The experts we quote are from the Business News Network's TV shows Market Call and market Call Tonight.
ReplyDeleteIt's easy to point out the mistakes, people make. Whenever I've used StockChase to verify my ideas or to get new ones I've made money. Sometimes you can tell that the Expert is pushing a stock, but usually when people phone in, the expert just gives his honest opinion, and you can't ask for much more then that.