October 10, 2014

CNBC Traders Results

I've been interested to see the results of the traders who have been 'paper' trading with $100,000.  To no ones surprise, certainly not mine, some have beaten the market slightly and most have trailed.

These are celebrated people on TV who manage peoples money for a living (besides being on TV).

You can see current results here at CNBC.  Feel free to compare these to the results of the S&P 500 or the DJIA.

I don't mean to rag on anyone in particular but as I have said on this blog and hundreds of times on radio or in articles - IT IS VERY HARD TO BEAT THE MARKET with any regularity at all.  The 'traders' on CNBC can't do it, most mutual fund managers can't do it and certainly, your local financial advisor can't either.

Bottom line is that like most people involved in the investment business, they are in the business of making money - for themselves.  This is achieved by separating you from your money via commissions and fees.

Check out my blog post from 2011 where I compared money management and gambling.