Original post date: August 20th 2008
Removed copyright content and reposted
There are so many wrong advices from Louis Navellier that sometimes I do not know where to start from. I am also starting to doubt about how true are the track records he is publishing on his website.
Well, this time I am going to write about Louis Navellier's Blue Chip Growth newsletter (the cheap one, just a few $100 lost per year) and MGM.
On his July 2007 issue of Blue Chip Growth (edited on June 21st 2007) Louis Navellier was writing:
MGM Mirage (MGM) is one of the world’s largest gaming firms. [REMOVED]. Buy MGM for the Aggressive section of your portfolio below $95.
That day MGM closed at $81.30.
Not many words from Louis in the following issues of Blue Chip Growth about MGM.
Just a line with adjusted buy limits.
August 2007: buy below $90
September 2007: buy below $77
October 2007: buy below $92
November 2007: buy below $102
December 2007: buy below $99
January 2008: buy below $96
February 2008:buy below $75
And finally, on March 2008 issue (edited on February 19th, when MGM closed at $66.19)
This month, I recommend selling CME Group Inc. (CME), IntercontinentalExchange (ICE), MGM Mirage (MGM), Schering-Plough (SGP) and Tesoro (TSO) due to their deteriorating reward/risk characteristics and declining Quantitative grades in PortfolioGrader Pro.
For Louis buying at $81.30 and selling at $66.19 meant a loss of 18%.
I wonder if some of his subscribers bought MGM in October close to $100 just to see their loss to be 33%...
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