November 22, 2017

Doug Kass slams the media's lack of transparency

"Business media is too often a bully pulpit consisting of consensus "Group Stink," snarky and uninformed comments, rehearsed sound bytes, ex post facto investment wisdom and (most importantly) lack of accountability and transparency of recommendations' records/results.

A big problem with biz media is that unlike most of us, they do not show transparency and follow up of investment recommendations success or failures. Too many viewers accept ideas as gospel. 

A very good example is the "unusual options" activity - directional call bets when done excessively and on a steady diet is a mug's game. Nowhere is it systematically recorded if ideas are working or failing. Viewers are basically told, believe us."

via twitter