Trader calls it quits…blames conspiracy

Corona Del Mar, CA

Howdy Friend,

For the past couple months, I've been telling you about a Twitter account that is the poster child of how NOT to trade. That person threw in the towel last Friday.

He's blaming a half-baked conspiracy about options as to why the markets keep rising.

There are enough real conspiracies going on right now ***with plenty of evidence*** that we don't need to get lost in the weeds in BS. The problem with most "news" and "fundamentals" traders is that they suffer from a massive case of cognitive dissonance.

On the one hand they believe that economies are built from the ground up. No one can manage an economy (let alone make a pencil as Leonard Read pointed out in his famous essay). On the other hand, they believe they are special and can predict where the economy is going.

So let me get this straight...it's too complicated to manage the economy, but they can predict it?

That's hubris.

This is exactly why I only use data that has a proven track record of predicting when to buy and sell different instruments. Here's what 100% Club member Larrie said the other day:

"For the month of May my IRA is up 7.54% or $28,272. The great thing here is that I took management of my IRA back from a “wealth manager” in April and have been slowly recovering what he lost for me over the past six years… just another $135k to go."

The average wealth manager makes $81k here in Newport Beach. If you want to get rich, wouldn't you take advice from a rich person? Years ago when I first started Portfolio Boss, I was hanging out with the now famous marketing titan, Russell Brunson, in Boise, ID.

We were listening to a presentation from an older gentleman who wanted us to critique his business plan.

In unison, we all told him to change a few things, and what he was doing would work an order of magnitude better. Well, that got his panties in a bunch. He told us we were all wrong. I'll never forget what happened next.

One of the youngest guys in the room pipes up and says "you just paid $25,000 to be in a room with a bunch of multi-millionaires. And you won't listen? You're an idiot!" If I had to guess, that young man is successful, and the old guy's business went down the tubes and he called it quits. And if you're not making money right now, you may want to re-evaluate what you're doing.

P.S. I'm documenting my research into **possibly** starting a hedge fund. You can read Part 1 here. (I'm not soliciting funds of any kind).