Independent Verification

June 4th, 2007 · 1 Comment · Uncategorized

I probably mentioned Carl Futia even before, but the last time was pretty recently in this post. Now, understand this: I began reading Carl's blog around last October or November (2006) and arrived at my assessment of him completely on my own. Someone I know who day and swing trades the S&P e-mini futures mentioned Carl to me, offhand, and that's the only thing I ever heard from anyone else about him.

But just watching him daily, it didn't take long to see how he was the first commentator on market activities who I didn't eventually have to conclude was completely full of shit. To be sure, if you trade based on anyone's recommendations you're eventually (quickly, actually) going to get burned. I never trade off Carl's commentary (he doesn't make recommendation or picks (big clue right there), but it has helped me to get the right overall perspective on the market which is critical to executing my own trades properly (I don't even trade the same stuff he does, at all).

Anyway, I stumbled upon this over the weekend.

The most accurate blogger was the Daily Dose of Optimism at 61% correct calls, followed by Carl Futia and Quant Investor at 60% correct calls. Although Daily Dose nicked the overall edge honors by providing 11 correct calls out of 18, compared to 12 for both Carl Futia and Quant Investor out of a maximum 20.

Nothing like independent verification of a conclusion you arrived at completely on your own.