Stocktwits – IDEAS…Not Promises

  • Posted by
  • on July 9th, 2009

So much is happening in the financial world and it is hard to believe any of it.

There is so much to hate about our markets and systems right now, but it’s impossible for me not to love the markets anyway.

I believe we are at some major inflection points about how financial information is delivered. At Stocktwits, we believe in ideas, not promises. People get excited and hype is likely impossible to stop, but if we can create a great idea engine and a way to help you quickly discover talented investors and filters to stream them in an organized and efficient manner, we are doing our jobs.

I read this week that Lenny Dykstra filed bankruptcy. For months, Adam Warner , a terrific option blogger and regular sweetheart of a guy (free blog), was challenging the results and credibility of Lenny’s PAID Newsletter. It’s hard to get attention when the largest financial bullhorn is saying the following (hat tip SMB Capital :

Quotes by Jim Cramer on Lenny Dykstra

“I think people don’t think of Lenny as sophisticated but I am telling you, Bernie, that not only is he sophisticated, but he is one of the great ones in this business. He is one of the great ones.”

“A guy who is applying the skills to money that he applied to sports. It’s brilliant.”

“Okay, let’s tell you the truth about Lenny Dykstra. If I didn’t know any better, I’d tell you everything you hear from Lenny is an act. Because there’s just no way you would ever feel like he’s as smart as he really is. Now there are four, five people in the world if they sent me an e-mail to buy a stock I’d take them seriously. He is one of them.”

On CNBC of late, the talented (NOT) Dennis Kneale has called the Recession…OVER. He’s a bad journalist at best. That’s not an idea. That’s assanine and par for the course on CNBC.

Dick Bove came on CNBC last fall and declared Citibank $C the ‘Buy of a Lifetime’. It was $19 and now $3 . If you died the next day, the lifetime trade worked. Nobody really wins with this type of nonsense.

I don’t know much, but I promise we won’t be making promises on Stocktwits about returns.

There are no promises in the financial world. Track records are records of the past.

Getting up everyday and passionately sharing ideas is the BEST you should expect and if you want more, someone is going to take your money. Thousands of us are doing it everyday on Stocktwits and it is exciting and FUN and much more honest than anything I have ever seen in financial media.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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