Ali Velshi Responds to Rip

I just noticed that Ali Velshi responded via Twitter to my post:

@Covel so not true. My book came out in Jan, 09. Had you taken my advice you’d be up 70% in the market. You obviously didn’t.

Not only was I on target with my criticism, Velshi appears even more disingenuous than I first thought. Velshi forgets the wisdom of “holes”:

“It is a good thing to follow the first law of holes; if you are in one, stop digging.”

My full post is here.

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9 thoughts on “Ali Velshi Responds to Rip

  1. Was Ali’s advice worth 70% up since January 09 on Thursday or Friday- seems like a nice round number and have those profits been taken- what is he talking about? could be up 62% after Monday’s close?

  2. Michael – Perhaps you and Ali should debate this matter on his program. 🙂

    Jeff

  3. So far it appears Velshi has issued one trading signal — a ‘buy’ in spring 09. Have there been other buy or sell signals issued by Velshi before or after?

  4. he touts a return of 70% in the markets. I don’t think Michael is saying nor i am saying it’s not true.

    But what is manipulative is point picking certain periods. From March 09 unttil Q1 2010 it was straight up… and to mention just those 2 points in time is manipulative of Ali’s. Be it consciously or unconsciously…

    What about his returns for the past 5 years?

  5. Nicely put Salvador — seems obvious to me — so that’s why I could not understand Jeff’s beef. I guess people see someone on TV and that means they are “right” — crazy!

  6. Since he’s claiming that he’s up 70% in 09, what is his purporting to be his return for 08? How does he generate these buy and sell signals? Since he’s also giving out his max numbers to the upside shouldn’t he point out his max drawdown?

    “Reporters” giving out market advice is ludicrous. I guess CNN is trying to outdo CNBC and become the next Bubblevision.

    Have fun catching that falling knife Ali…

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