CNGX can’t.

090930cangx

Occasionally, out of  a spirit of prankish perversity and impish glee we like to examine the records of our colleagues in the field.  Especially those who hype their skills relentlessly.

We don’t have anything fundamental against CANSLIM, the product of Investor’s Business Daily, the Fox News of business newspapers.  What we have against it is technical.

Here is their mutual fund.  CANGX.  As cangx be seen they’ve taken it on the chingx.

As everyone knows we feel about mutual funds the way we feel about politicians and rattlesnakes.  (Remember that Morningstar gave its manager of the year award last year to Charlie Dreyfus because he lost 16.9%  After you recover from hysterical laughter (which almost gave us a heart attack from merriment) you can sell all your mutual funds and lose your own money with ETFs.)

But we have an even more vicious project in mind.

We are going to use CANGX as a benchmark and compete against it.  In general we have not bothered about performance reporting because our observations are so diverse and we don’t put every issue in our personal portfolio.

For the record our average profit since the March low is 74.9% with a range of -7 to 462%.  The minus 7 is in Citibank on which we made nice profits before we closed the earlier trade.

We are going to open a special account where we will make token trades for this purpose only.  The account will be transparent to all our readers.

Stay tuned.  Get a scorecard and see whether one technical analyst with a ruler can beat the multiple minions of IBD.

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This Post Has One Comment

  1. alain

    great idea. looking forward to it
    Alain

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