Forex

Advisory newsletters are colorful splashes on the trading scene. Freedom of
the press allows anyone to put a typewriter on his kitchen table, buy a few
stamps, and start sending out a financial advisory letter. Their "track
records" are largely an exercise in futility because hardly anybody ever takes
every bit of advice in any newsletter.
Some newsletters provide useful ideas and point readers in the direction
of trading opportunities. A few offer educational value. Mostly, they sell outsiders
an illusion of being an insider, of knowing what happens or is about to
happen in the markets.
Newsletters are good entertainment. Your subscription rents you a penpal
who sends amusing and interesting letters and never asks you to write back,
except for a check at renewal time.
Services that rate newsletters are for-profit affairs run by small businessmen
whose well-being depends on the well-being of the advisory industry.

Rating services may occasionally tut-tut an advisor, but they dedicate most
of their energy to loud cheerleading

Bottom line is "If you have to make forecasts, make a
lot of them." Whenever a forecast turns out right, double the volume of promotional
mail.