Ron Insana — the CNBC guy who plays the role of “wise one” because he had a stint in the fund-of-funds game — has a new newsletter he’s pumping with TheStreet.com.
If your the type of investor who thinks that getting Ron Insana’s exclusive stock picks will help you make money, and you want to spend hundreds of dollars on that advice then more power to you, the link is here.
Now, Insana didn’t do too wildly in the hedge fund business, so he went back to CNBC. But are his stock-picking skills any better?
Michael Comeau has the newsletter, and it says Insana has YTD returns of 23% with $200,000 that he’s invested of his own money. Pretty awesome performance.
But wait, check out this disclosure from the inaugural letter:
The service consists of, among other things, a portfolio of securities chosen and actively traded by Mr. Insana, initially capitalised on March 13, 2009 with $200,000 of Mr. Isana’s personal funds.
Hey, that’s like, right when the market bottomed. Pretty convenient that Insana just happened to start trading for this newsletter right then.
As Comeau notes, this is now how newsletter performance is typically done. So if you’re interested in “Market Movers” the name of the newsletter, there’s no harm in waiting a while to see if his market timing is consistently so genius.
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