finance.yendor.com - premium area
home faq articles premium contact
Congratulations. You've made it.
I was once toying with the idea of selling subscriptions to my actual positions in real time, but for the time being, I've decided against it.
There are many reasons why I don't do this yet, among them:
- Despite all the great results I have had, I feel I don't have a long enough track-record to feel really confident that following me will not hurt any follower. Risking my money is one thing, risking other people's money, is a totally different level of responsibility.
- There's always a problem in following someone else, because people are very different. I may be confident enough to hold on to a losing position, while a follower may bail at the worst possible time. I may feel very comfortable to trade 5-times a week, while a follower might find this high activity level excessively burdensome. Investing is a very personal endeavor. In order to succeed you need to have, not just convictions, but a deep understanding of your own weaknesses, strengths, comfort zones, etc. What works great for me, might not work so great for you.
- My greatest priority is still to improve my system. This requires a lot of time, focus, and effort. When you have followers, they may email you, ask questions, doubt your actions, feel entitled to more attention, and generally shift your focus and take some of your energy away. I continuously find new ways to improve what I have. I still have a lot to code (and debug) to make PIE a universally adaptive system that is so good under any market condition, that the effort to improve it is not worth much of my time anymore. Only when I get there I would be able to focus more on other people's needs.
- My deep mistrust of those who charge us money for sub-par results (virtually the whole mutual fund industry falls in this category). I feel I need to invent a new kind of financial business model, where my "clients" win really big. Where they get much more than what they pay for. Where they feel so grateful, that they won't ever think of asking for their money back, etc. Perhaps something like a honor system: "Take your time, and next year, just pay me a 10th of what you feel following me was worth to you." I don't know yet, but I like the general idea. I need more ideas for a business model.
Keep the faith. Premium material might be here in the future.