Tuesday, September 6, 2011

Casey Research: The devil is in the details

The way in which Casey Research goes about its business up all over the place, for example in the little details that give a window into the niggling, petty mindset of its overpaid and underqualified staff.

Take for example last week, when Louis 'Lobito' James published his monthly festival of laughs, The International Speculator. The September edition hit the world midday September 1st and featured a stock (I'm not going to say which one, as even a toerag such as I has a few scruples left) which was trading at $3.10 at the time. However, in his whizzdumb, Lobito decided to mark his opening price down at $2.87. Here's the 48 hour chart of said stock last week that shows it got a decent bounce Friday (with the rest of the sector) and finished at $3.30.

Therefore, Lobito's new pick (stopped clocks and all that) is now, Tuesday 6th Sept one hour before the opening bell, up 6.1%.

But Louis Little Wolf James will claim that he's up 15.0% on the deal, because he chose an entirely fictitious starting price that not one of his readers could have possibly bought near to, let alone at. This will not stop him from bragging about his bullshit percentage gain further down the line, though.

And think this is an isolated case? Think again, as this Casey Research fiction on entry pricers has been commented to your author by plenty of their readership and they all feel they're getting hoodwinked. It's not about a teeny tiny case of  the practicals of this basic dishonesty at Casey Research, it's about the mindset that drives it.