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COOLCAT REPORT
I have known coolcat (Kevin Kennedy) since the late 1990s. Back then he was known as [email protected]
He did a few (very) unprofitable stock trades, buying some crappy small cap stocks like ACLY (Arcland Energy Corp.) a stock that he paid a couple of bucks for per share that eventually was completed delisted and currently trades (if it trades at all) at 0.03 on the pink sheets. Coolcat was a complete joke of a stock trader.
After that fiasco, and realizing that he had no knack whatsoever for trading real dollars in the stock market, coolcat decided to start a NEWSLETTER that he called "Coolcat's Explosive Small Cap Growth Stock Report." I mean, why not, if you can't make a money yourself in the market, fleece others by having them PAY you for imaginary knowledge.
Over the years, he has built up an imaginary portfolio that has no connection to reality. No real dollars invested (remember, the only REAL money coolcat put into the stock market, he lost) and not only that but he used, back then, AOL DELAYED quotes for the buy/sells on his trades (correct - did not bother with the actual real time quotes, let alone to account for the spread between the bid and the ask).
Not to mention that in REAL life if trading big blocks of stock on these SMALL cap stocks, the bid/ask would CHANGE even as the real dollars are traded.
Well today this clown
Investment Newsletters from Coolcat Report - Coolcat Report Investment Newsletters - Stocks - ETFs
continues with his imaginary portfolios and claims that he is up 12% per year on them (lol, the SPREAD between the bid and the ask on the small cap stocks he "buys" and "sells" on his report, plus the factor that the bid/ask would CHANGE if he were trading real dollars as the small cap stocks were pushed around, would more than eat up that 12%).
Let's face it also, imaginary trades mean absolutely nothing. When a person trades real dollars, emotion comes into play. These emotions may make a trader jump in sooner - or later, than if he is playing with play money and has nothing to lose.
Plus, with an infinite bankroll, which is what a person running an imaginary portfolio has, a trader might take automatic risks that a person trading with real money might not make.
Consider for example gambling - the game of blackjack. As a general rule, a person must always double down when his first two cards add up to ten or eleven, no matter what the dealer has face up - a ten, a face card, an ace - no matter - DOUBLE DOWN. But when the bet is say, five thousand dollars and the double down will bring the total to ten, the player will naturally hesitate and might even bow out of the logical move.
Similarly, in stock trading a person who has $150,000. on a trade that drops five points might not want to double up and buy ANOTHER $150,000. of the stock to lower the basis by 1/2, while someone with imaginary money might do just that without hesitation.
Basically, there is just no comparison between imaginary "paper" trades and real ones. Put two identical genetically cloned human beings next to each other, somehow educated and trained exactly the same having lived the exact same lives, and give one an imaginary portfolio and the other a real money portfolio, EVEN IF they end up buying and selling the same stocks GUARANTEED their entry/exit points will not be the same.
A human being may not act like a robot and buy/sell according to some algorithm when real money is at stake, no matter how icy the blood is in his veins.
And back to the Coolcat Report - garbage. Kevin Kennedy couldn't even make a dollar with his OWN money, so who is he to tell others what he is making now - with an IMAGINARY portfolio that no one is even policing except after the fact.
The best this guy could come up with, with his own money, was a stock that went to practically zero. MOST of this guy's picks end up going to zero anyway, but since it's all imaginary, he effortlessly cuts out the losers and injects the winners - hey, there is unlimited money and no downside to an imaginary portfolio anyway.
Sorry to use your forum for a rant and rave but I've been meaning to tell the world about coolcat for a long time. Great forum by the way, and good job Modee. Good luck stock trading.
I have known coolcat (Kevin Kennedy) since the late 1990s. Back then he was known as [email protected]
He did a few (very) unprofitable stock trades, buying some crappy small cap stocks like ACLY (Arcland Energy Corp.) a stock that he paid a couple of bucks for per share that eventually was completed delisted and currently trades (if it trades at all) at 0.03 on the pink sheets. Coolcat was a complete joke of a stock trader.
After that fiasco, and realizing that he had no knack whatsoever for trading real dollars in the stock market, coolcat decided to start a NEWSLETTER that he called "Coolcat's Explosive Small Cap Growth Stock Report." I mean, why not, if you can't make a money yourself in the market, fleece others by having them PAY you for imaginary knowledge.
Over the years, he has built up an imaginary portfolio that has no connection to reality. No real dollars invested (remember, the only REAL money coolcat put into the stock market, he lost) and not only that but he used, back then, AOL DELAYED quotes for the buy/sells on his trades (correct - did not bother with the actual real time quotes, let alone to account for the spread between the bid and the ask).
Not to mention that in REAL life if trading big blocks of stock on these SMALL cap stocks, the bid/ask would CHANGE even as the real dollars are traded.
Well today this clown
Investment Newsletters from Coolcat Report - Coolcat Report Investment Newsletters - Stocks - ETFs
continues with his imaginary portfolios and claims that he is up 12% per year on them (lol, the SPREAD between the bid and the ask on the small cap stocks he "buys" and "sells" on his report, plus the factor that the bid/ask would CHANGE if he were trading real dollars as the small cap stocks were pushed around, would more than eat up that 12%).
Let's face it also, imaginary trades mean absolutely nothing. When a person trades real dollars, emotion comes into play. These emotions may make a trader jump in sooner - or later, than if he is playing with play money and has nothing to lose.
Plus, with an infinite bankroll, which is what a person running an imaginary portfolio has, a trader might take automatic risks that a person trading with real money might not make.
Consider for example gambling - the game of blackjack. As a general rule, a person must always double down when his first two cards add up to ten or eleven, no matter what the dealer has face up - a ten, a face card, an ace - no matter - DOUBLE DOWN. But when the bet is say, five thousand dollars and the double down will bring the total to ten, the player will naturally hesitate and might even bow out of the logical move.
Similarly, in stock trading a person who has $150,000. on a trade that drops five points might not want to double up and buy ANOTHER $150,000. of the stock to lower the basis by 1/2, while someone with imaginary money might do just that without hesitation.
Basically, there is just no comparison between imaginary "paper" trades and real ones. Put two identical genetically cloned human beings next to each other, somehow educated and trained exactly the same having lived the exact same lives, and give one an imaginary portfolio and the other a real money portfolio, EVEN IF they end up buying and selling the same stocks GUARANTEED their entry/exit points will not be the same.
A human being may not act like a robot and buy/sell according to some algorithm when real money is at stake, no matter how icy the blood is in his veins.
And back to the Coolcat Report - garbage. Kevin Kennedy couldn't even make a dollar with his OWN money, so who is he to tell others what he is making now - with an IMAGINARY portfolio that no one is even policing except after the fact.
The best this guy could come up with, with his own money, was a stock that went to practically zero. MOST of this guy's picks end up going to zero anyway, but since it's all imaginary, he effortlessly cuts out the losers and injects the winners - hey, there is unlimited money and no downside to an imaginary portfolio anyway.
Sorry to use your forum for a rant and rave but I've been meaning to tell the world about coolcat for a long time. Great forum by the way, and good job Modee. Good luck stock trading.
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