Go to Jeff Salisbury LWGate Home Page.From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] Why Professionals go astray
Date: Tue, 3 Sep 2002 19:36:08 -0500
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To really have proof, how about the old end of year tax statement. =
Around 6 months ago, I had extra money to invest, so i ask a few CANSLIM =
masters, there names occasionally pop here, to invest in their =
partnerships. I wanted to know their track record, which are audited. I =
found that their track records not only for 2000s but 1990s, not that =
impressive. David
----- Original Message -----=20
From: Fred Richards=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, September 03, 2002 6:54 PM
Subject: RE: [CANSLIM] Why Professionals go astray
Heavens to Betsie . . .=20
I have even shown actual brokerage house statements to people and they =
still don't believe the results.
In fact, one newspaper reporter had the gall to suggest that the =
statements were obviously forgeries.
You are right . . . It's a "no-win" situation.
-----Original Message-----
From: owner-canslim@lists.xmission.com =
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Katherine Malm
Sent: Tuesday, September 03, 2002 6:36 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Why Professionals go astray
Hi Wyndy,
My comment about chucking CANSLIM was tongue-in-cheek. You can't =
measure a system unless there are firm recommendations and/or =
nonsubjective components for entry/exit.* CANSLIM is not about telling =
you specifically which stocks you should and shouldn't buy, it doesn't =
recommend stocks---it's a process of investing long in fundamentally =
sound high-growth stocks using an intermediate term entry/exit strategy =
based on technicals. It's a long strategy intended for uptrending =
markets rather than an "all weather" strategy.
My intended point was that if someone prefers a system that has no =
subjective components, is mechanically based and/or requires statistical =
evidence before following it, then CANSLIM is not the right strategy for =
them. If they are instead sufficiently confident in anecdotal evidence =
of success and are comfortable with interpreting subjective criteria, =
then CANSLIM will "fit" the person.
Katherine
* What can and has been done is to take a rule-based interpretation =
of CANSLIM and then enter/exit only on quantifiable elements. When this =
is done, one can measure the performance (and it's quite good, by the =
way). However, every time I show a study that did this to someone, they =
find some reason to doubt the results. There's just no pleasing some =
people. They don't believe it if you *don't* show statistics, and when =
you *do* show them statistics, they say that "statistics lie." Sounds =
no-win to me.
----- Original Message -----=20
From: Cwyndham@aol.com=20
To: canslim@lists.xmission.com=20
Sent: Tuesday, September 03, 2002 5:48 PM
Subject: Re: [CANSLIM] Why Professionals go astray
In a message dated 9/3/2002 5:14:16 PM Central Daylight Time, =
kmalm@earthlink.net writes:
If track record is a prerequisite for judging content, then you =
may as well
chuck CANSLIM out the window....as there is no official record =
of WON's
yearly results since 1960-something when he began. Guess that =
means that
CANSLIM has no value because WON and/or the IBD doesn't even =
*have* a
Hulbert rating.
Katherine
From the loss in subscribers to the newspaper and other offerings =
I think that many people are chucking CANSLIM. Folks didn't care about =
performance with a bull markets wind at their back but now it's a =
different story. I for one want to know "where's the beef." I am sad to =
say I couldn't find any data.
Wyndy
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<DIV><FONT face=3DArial size=3D2>To really have proof, how about =
the old end of=20
year tax statement. Around 6 months ago, I had extra money to invest, so =
i ask a=20
few CANSLIM masters, there names occasionally pop here, to invest in =
their=20
partnerships. I wanted to know their track record, which are audited. I =
found=20
that their track records not only for 2000s but 1990s, not that =
impressive.=20
David</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dffradrich@attbi.com =
href=3D"mailto:ffradrich@attbi.com">Fred=20
Richards</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, September 03, =
2002 6:54=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> RE: [CANSLIM] Why =
Professionals=20
go astray</DIV>
<DIV><BR></DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2>Heavens to Betsie . . . </FONT></SPAN></DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff size=3D2>I=20
have even shown actual brokerage house statements to people and they =
still=20
don't believe the results.</FONT></SPAN></DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff size=3D2>In=20
fact, one newspaper reporter had the gall to suggest that the =
statements were=20
obviously forgeries.</FONT></SPAN></DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff=20
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D420245223-03092002><FONT face=3DArial =
color=3D#0000ff size=3D2>You=20
are right . . . It's a "no-win" situation.</FONT></SPAN></DIV>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV class=3DOutlookMessageHeader dir=3Dltr align=3Dleft><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B> <A=20
=
href=3D"mailto:owner-canslim@lists.xmission.com">owner-canslim@lists.xmis=
sion.com</A>=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of =
</B>Katherine=20
Malm<BR><B>Sent:</B> Tuesday, September 03, 2002 6:36 =
PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] Why=20
Professionals go astray<BR><BR></FONT></DIV>
<DIV>Hi Wyndy,</DIV>
<DIV> </DIV>
<DIV>My comment about chucking CANSLIM was tongue-in-cheek. You =
can't=20
measure a system unless there are firm recommendations and/or =
nonsubjective=20
components for entry/exit.* CANSLIM is not about telling you =
specifically=20
which stocks you should and shouldn't buy, it doesn't recommend=20
stocks---it's a process of investing long in fundamentally sound =
high-growth=20
stocks using an intermediate term entry/exit strategy based on =
technicals.=20
It's a long strategy intended for uptrending markets rather than an =
"all=20
weather" strategy.</DIV>
<DIV> </DIV>
<DIV>My intended point was that if someone prefers a system =
that has no=20
subjective components, is mechanically based and/or requires =
statistical=20
evidence before following it, then CANSLIM is not the right strategy =
for=20
them. If they are instead sufficiently confident in anecdotal =
evidence of=20
success and are comfortable with interpreting subjective criteria, =
then=20
CANSLIM will "fit" the person.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<DIV> </DIV>
<DIV>* What can and has been done is to take a rule-based =
interpretation of=20
CANSLIM and then enter/exit only on quantifiable elements. When this =
is=20
done, one can measure the performance (and it's quite good, by the =
way).=20
However, every time I show a study that did this to someone, they =
find some=20
reason to doubt the results. There's just no pleasing some people. =
They=20
don't believe it if you *don't* show statistics, and when you *do* =
show them=20
statistics, they say that "statistics lie." Sounds no-win to =
me.</DIV>
<DIV> </DIV>
<DIV>----- Original Message ----- </DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3DCwyndham@aol.com=20
href=3D"mailto:Cwyndham@aol.com">Cwyndham@aol.com</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, September =
03, 2002=20
5:48 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Why=20
Professionals go astray</DIV>
<DIV><BR></DIV><FONT face=3Darial,helvetica><FONT lang=3D0 =
face=3DArial size=3D2=20
FAMILY=3D"SANSSERIF">In a message dated 9/3/2002 5:14:16 PM =
Central Daylight=20
Time, <A =
href=3D"mailto:kmalm@earthlink.net">kmalm@earthlink.net</A>=20
writes:<BR><BR><BR>
<BLOCKQUOTE=20
style=3D"PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff =
2px solid; MARGIN-RIGHT: 0px"=20
TYPE=3D"CITE">If track record is a prerequisite for judging =
content, then=20
you may as well<BR>chuck CANSLIM out the window....as there is =
no=20
official record of WON's<BR>yearly results since 1960-something =
when he=20
began. Guess that means that<BR>CANSLIM has no value because WON =
and/or=20
the IBD doesn't even *have* a<BR>Hulbert=20
rating.<BR><BR>Katherine</BLOCKQUOTE><BR><BR>From the loss in =
subscribers=20
to the newspaper and other offerings I think that many people are =
chucking=20
CANSLIM. Folks didn't care about performance with a bull markets =
wind at=20
their back but now it's a different story. I for one want to know =
"where's=20
the beef." I am sad to say I couldn't find any=20
=
data.<BR><BR>Wyndy<BR></BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></FONT></FON=
T></BODY></HTML>
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