GPRO and comments regarding ibankcoin

So I had not written up a report on GPRO but I'd read enough on the company to know that there was too much I not wrap my head around for me to come up with a future valuation.  The founder of the company was selling a lot of shares at the secondary.  The site is modern with lots of fancy videos.  They are permeating the market such that stories are written in the New Yorker on how vacations get ruined when someone misses their shot.  Perhaps I am too old to understand future growth and I find little of value in what their products offer to the planet.

As a foolish freshman in the market I read many market related sites searching for meaning and hot tips.  I made many trades based upon some whiff of smoke that reached my emotional brain causing click click mouse reactions.  I took up any offer of free trials to paid sites and frequently ended up subscribing.  The end result for me extreme highs and lows of emotional states and account balances.  I adapted and changed and now approach the market with at least some sophomoric sensibility.

I still go back and look at old sites of value.  One of those is ibankcoin.  ibankcoin is a site that offers commentary on the markets, supposedly from someone that has been around a while.  There also seems to be paid and volunteer writers and paid subscription services with hot tips, screeners, and overbought/oversold indicators.  Following them for a while it is amazing to see how poorly the main person trades, how poor the rationale for some of his trades are, and how poor his results have been.  They offered an educational seminar but the proprietor remained anonymous.  How the heck do people pay someone that won't show his face, has a losing track record, is a poor trader, and whose main interest running the site seems to be the recurring revenue stream?

To be fair, there are many in the market that offer paid services that I would critique similarly.  Dan Zanger had some great years with audited results from many years ago, still sells monthly products.  He does list "past winners" but not any losers or actual results.  Brian Shannon has a great book on the market, sells actionable ideas via a service, but does not share performance data.  Charles Kirk of the Kirk report is similar, he used to show performance data (it struck me then as sub par), he used to show actual trades (infrequent and cautious) but he does not share data now.

My advice to those that are green in the market, be wary of what you do with your money.  The wolves are out there.  Study what works.  Become an old rich person by living below your means, save as much as possible, put a large portion of your market funds in low cost index funds.  If you want to play the market with individual stocks find out what works for you.