I have been listening to Bob Brinker on KABC radio for years. His program is called Moneytalk. He says he started his weekend investment show about 20 years ago. It is a listener call in show where he answers questions about investing in stocks, bonds, and other kinds of investments from real estate to whole life insurance policies.
I became so impressed with his advice that I started subscribing to his newsletter two years ago. I tracked his recommendations (that are not discussed on the radio but are provided in his newsletter) compared to my own investment ideas. However I never actually acted on most of his recommendations until this past July 2007. I decided to do that because I was not happy with my progress in investing. My decision was a serious error.
In his July 2007 newsletter he wrote “In summary, The Marketimer stock market model remains in positive territory as the second half of 2007 commences. We expect the S&P 500 Index to achieve new record highs, and we believe a strong case can be made for a move into S&P 500 Index 1600’s range as we move foreward… into 2008.” Mr. Brinker followed up on that statement on August 17, 2008 with this alert that he emails to his subscribers, “…the current S&P 500 Index level, is regarded as an additional buying opportunity for subscribers looking to add to stock market holdings.
Marketimer © expects the S&P 500 Index to register new historic record highs as we move forward into next year.”
After dropping to 1270 now Mr. Brinker is forecasting S&P 500 Index in the 1400’s range in the coming year. I have dropped my subscription.
To add to my dismay the GABELLI ASSET FUND (GABAX), one of his recommendations has tracked the fall of the S&P 500 Index and in fact has performed even worse. Mr. Gabelli’s income as the manager last year was over $9 million (as reported in the shareholder’s report).
Mr. Brinker offers no apologies!
Mr. Brinker did teach me something. Listen to everyone but trust no one. Do lots of homework before you make any investments.
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1 comment:
"I became so impressed with his advice that I started subscribing to his newsletter two years ago. .... My decision was a serious error.
I think you've only scratched the surface. You should read some of his big cover-ups such as Bob Brinker's QQQ Advice and Bob Brinker's Asset Allocation History all documented at the... Bob Brinker "Fan Club."
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