tag:blogger.com,1999:blog-5465015914589377788.post261056324648159172..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Crashing a 2014 Stock-Picking ContestMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5465015914589377788.post-15046918277990361512015-01-13T20:23:30.829-05:002015-01-13T20:23:30.829-05:00@Mark: My wife's more of a fan of cash in chec...@Mark: My wife's more of a fan of cash in checking accounts. Maybe she'll breathe easier after we retire and we have 5 years of spending in GICs.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-79790551382525585512015-01-13T20:17:51.906-05:002015-01-13T20:17:51.906-05:00I've learned from you and others that boring i...I've learned from you and others that boring is VERY good when it comes to investing. :)<br /><br />Hence the need for me to index more in 2015. My wife said it was a good idea. Happy wife, happy life.<br /><br />Mark<br />My Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-46194630288997760762015-01-13T19:57:36.888-05:002015-01-13T19:57:36.888-05:00@Mark: I'm aware that this stock-picking conte...@Mark: I'm aware that this stock-picking contest is just a game to the entrants and that few if any of them actually invest solely in their picks. However, I'm more concerned with naive followers of stock-picking contests. I don't want them to think that this kind of stock-picking is a good idea. I want them to know that picking stocks like this is very likely to lose out to much more boring investing approaches.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-87187293431204786452015-01-13T19:21:36.168-05:002015-01-13T19:21:36.168-05:00I wouldn't equate the stock picks as to actual...I wouldn't equate the stock picks as to actual personal picks or holdings Michael, although you make some great points, in any given year, good luck beating the market and over many years, it's likely a war you'll never win.<br /><br />MarkMy Own Advisorhttp://www.myownadvisor.canoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-40031845587125416122015-01-12T10:13:54.148-05:002015-01-12T10:13:54.148-05:00@Gene: Good points. It's certainly true that ...@Gene: Good points. It's certainly true that if you want to win a stock-picking contest, you should make some insanely risky picks. I think the biggest danger in a stock-picking contest is the effect it has on novice investors. They are left with the impression that this is the way to invest.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-20616572421328009672015-01-12T10:10:24.143-05:002015-01-12T10:10:24.143-05:00I think your point is valid. Also consider that p...I think your point is valid. Also consider that people picking stocks for a contest might pick a stock that is likely to either crash or excel. Also, people are more likely to pick something interesting. I'm thinking I'd pick some risky penny stock over something like BMO just to intrigue people and also have a chance of shooting out the lights.<br /><br />Still, indexing is a good strategy for real money, and the more I read your blog, the closer I get to indexing my own portfolio.<br /><br />Further, I'd guess picking risky stocks in a stock contest is foolish since such risky strategies could creep their way into one's own portfolio.genehttps://www.blogger.com/profile/05608927986297939720noreply@blogger.com