Being right 100% of the time

[Originally posted: Tuesday, July 18, 2006 8:29 PM]

There's a con that's been around for decades. It used to be done by mail but it's now done by email which makes it so much easier and cost effective to pull off.

The con artist starts off with a mailing list of (say) 32,000 people. To half (16,000) he sends an email on a Sunday evening telling them about this stock (or future or commodity) that's going to go up that week. To the other half he sends the same email but he tells them that it's going to go down.

The following week he now has 2 mailing lists of 16,000 each. One mailing list got a good prediction and the other a loser. He discards the losing mailing list and splits the good one and repeats with his next prediction. After 6 weeks he's left with 1,000 people who his given a 100% correct prediction to over the last 6 weeks.

Now he offers to sell them his market calls. Just $1,000 for 1 year's subscription - you'll make that back in your first trade!

That's the con. Pathetically simple, but don't fall for it.