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Investing

Stock misconception: listen to experts (II)

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It is reported that Pequot Capital will go out of business in next few months (from CNBC). Pequot was headed by Art Samberg (one of the Barrons Rountable 2008 expert), who would have dismal performance if he followed his Barrons Roundtable pick. Quote his best and worst picks (loss > 80%):

Company Ticker 1/4/08 12/31/08 Change

MEMC Electronic Materials WFR 81.40 14.28 -82.5
Qualcomm QCOM 37.03 35.83 -3.2
Focus Media FMCN 55.71 9.09 -83.7
Dogan Yayin DYHOL.Turkey 4.44 TRL 0.66 TRL -85.1

Interestingly, the latest WSJ article still brags about his success. (If he is really that successful, why not stay in the business?) Quote WSJ: