How Casey Research fakes its track record

One of the ways it does it like this:

1) Recommend hundreds of stocks
2) Never sell the losers
3) Boast about the amazing track record of closed trades.

Here's an example: Remember last year when we looked at Marin Katusa's bullshit about CBM Asia (TCF.v), the stock he pumped no end before it started sinking in classic Katusa Krush style*? Well at the time he decided to give up on the stock he put a "sell at 30c" call on it, thus avoiding the embarrassment of selling at half that price when his initial recommend was up there at 80c. He justified his bullshit sell-that-isn't-a-sell call by saying that "..[i]t may take some time to sell our stock, but with patience, the merits of the property should allow us an opportunity to exit the stock at or above C$0.30."

So let's see if patience has paid off since those words of Katusa's back in late July 2010:

Hmmm...more of that patience medicine needed, yeah Marin?

This is the Casey Research modus operandi and how it manages to fool so many people into believing its totally unaudited propaganda about unbeatable returns. What's more the above is one example of the many because this happens all the time. So, dear reader, why not start your own unaudited research house yourself? Remember, all you need to do is:

1) Pick a boatload of stocks

2) Take profits on the winners

3) Ignore the losers and never sell them by putting stupid "sell at" calls on them

4) Boast about closed trades.

You'll get 'em flocking to your door, too. Then with the money you make you can leverage yourself into the private placement world and scam them both sides....just like our hero Marin.

*by the way, the similarity between the TCF.v chart and that of EW.v is remarkable. I wonder why? And the RPG.to chart, come to think of it. Anyone else spot a common denominator between those three?

Classic Casey bullshit

This, sent in by A Reader this morning, made me laugh like the proverbial drain. Taken from the July 26 edition of the Casey Energy Report Quarterly and written by chief obfuscator Marin Katusa, it's another classic example of how arrogance and unaccountability combine into total bullshit, delivered to your doorstep by Casey Research.

click to enlarge

What we have to begin with is a trade gone wrong. The Casey boyz called buy on CBA Development Corp (TCF.v) at $0.90 in September 2008, then added again in Feb 2010 at $0.25. Today we find the stock languishing at $0.145 and the total position loss swallowed by Katusa is 68.58%. Now there's no particular problem with that, we all make mistakes and none of us can possibly get them right all of the time. Normal.

Nah, the problem is the utter drivel and tripe that follows. Because instead of being man enough to admit a mistake, first up we get a puerile, "Please sir it wasn't me!" handwringing excuse, as "....CBM Asia's last quarter was not impressive". You see, it's never the full-of-himself analyst that's to blame for the bad call, it's the company that failed to live up to his pie-in-the-sky expectations.

But then it gets even better. Apparently, Katusa is closing the position but will wait until it gets to at least 30c before bailing. B-b-b-b-b-but wait a moment!! That's the same as calling it a buy, isn't it? I mean, what you have is a stock at 14.5c that he thinks will go to 30c....hot damn Ethel, Katusa thinks TCF.v is a double from here! So what is it, Marin...a buy or a sell? C'mon dude, help us out here.

What's the point in calling sell on a stock and then wanting it to double before doing so? Pretty simply, just another case of the accountable-to-nobody Casey bullshitters covering their asses and pretending their pisspoor calls never happened. I'll betcha a dollar to a donut that if TCF.v does indeed return to 30c or above then Katusa will be crowing about how he called it as going from under 15 to over 30 and will neatly forget about the original 80c malarkey, such is the par for this course.

So anyway Caseydudes, now I've stuck a segment of your subscription material up in the public arena feel free to slap a legal something-or-other on my tush. You'll love the publicity, I'm sure.