• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Fat Prophets - opinions?

Discussion in 'Trading/Investing Resources' started by Mega, Aug 12, 2004.

  1. Mega

    Mega

    Posts:
    6
    Likes Received:
    0
    Joined:
    Aug 11, 2004
    Recently I have been considering to subscribe to Fat Prophets. They seems to perform quite well and their idea "Buy in gloom, sell in boom" looks like good one. In fact I've used this approach myself for long time and it worked for me. Now I have many other things to do and really keen to have someone to do such research for me. Fat Prophets seem to fit the picture. Does anyone has expirience with them? Any opinions?
     
  2. wayneL

    wayneL Rotaredom

    Posts:
    16,872
    Likes Received:
    1,023
    Joined:
    Jul 9, 2004
    Re: Fat Prohpets - opinions?

    Why do you want to pay someone else if what you are doing is already working?
     
  3. Mega

    Mega

    Posts:
    6
    Likes Received:
    0
    Joined:
    Aug 11, 2004
    Re: Fat Prohpets - opinions?

    Trading stocks is not my main business any more. Researching stocks takes alot of time and it prevents me from doing other things. After 7 years in the market I think to move on. But I believe that stock market is good place to preserve the capital (sound strange but in my expirience it is primary goal of a good investor - making money is secondary goal). Thus I need someone reliable with good reputation who will do research in about same style as I did.
     
  4. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    3
    Joined:
    Jun 18, 2004
    Re: Fat Prohpets - opinions?

    I just realised that my post sounds like fan mail for Fat Prophets! But really, I took a long time figuring out who was best I felt more comfortable with their open approach. Best Advice Is: TRY BEFORE YOU BUY! 8)

    There are a whole lot of tipsheets that give you samples. I've started another thread on Tipsheets so if you want to compare have a look.

    I'm still trying out FatProphets so my opinion is still being formed but I have very little that is negative to say at the moment. They also have 30 day money back guarantee but I don't know if it's that easy to get out once they get your cash.

    RichKid
     
  5. stefan

    stefan

    Posts:
    667
    Likes Received:
    0
    Joined:
    Jun 17, 2004
    Re: Fat Prohpets - opinions?

    I did comment on their strategy somewhere else in this forum already. Personally I don't think you should invest with somebody like fat prophets if you don't have time to check what they are trying to recommend. In this case you would be better off investing into a professional fund rather than putting your money onto the line by following a stock tip sheet.

    You can't have it all. You either put the time into research or you leave it to somebody else. But if you do, you better make sure you know what's going on behind the doors. I VERY MUCH doubt that ANY of those stock tip companies would stand a proper investigation into their performance figures.

    My 2 cents worth of advice:
    Stay well clear of these Gurus.

    Happy trading

    Stefan
     
  6. Mega

    Mega

    Posts:
    6
    Likes Received:
    0
    Joined:
    Aug 11, 2004
    Re: Fat Prohpets - opinions?

    Well... That's good point that no one should rush into buying stock just on recommendation of some Guru. And I believe that doing so will be act of stupidity. ;D

    I simply do not have time to do bottom up analysis, reading through balance sheets, calculating actual (which I believe is actual) company worth and comparing it with market capitalization and then reading and tracking current news about particular company. I would prefer someone to do this job, give me list of companies which fit my model and then I can do abovementioned steps only to recommended stocks.

    When I read through FP site I was surprised with their "openness" but when they claim that their performance was audited by big accounting firm I would really like to have name of that company (and such company probably will want to have their name out there as well). I would like to verify their claims before I will commit my money to something which they claim to be good enough picks. I always have doubt that any tipster may be ramping up the stock for their own benefit (provided they have good number of subscribers).

    On other hand I took the list of their former recommendations and recalculated their performance. If the list is actual and no bad recommendations witheld then their claim for their performance seems to be true. Probably I will be able to say for sure when I will buy up their old issues and recalculate their performance.

    In my opinion there's not big difference between fund managers, tipsters + stock exchange or banks... In all cases there are three components: your money, manager, investment vehicle. They just blended different way. As combination of stock picks + stock exchange provides more flexibility than managed fund I prefer to have greater control over my capital.

    Stefan: I will invest your 2 cents of advice and then will see what kind of dividents I will get... :)
     
  7. Joe Blow

    Joe Blow Administrator Staff Member

    Posts:
    5,731
    Likes Received:
    1,150
    Joined:
    May 28, 2004
    Re: Fat Prohpets - opinions?

    Mega, I need you to correct the email address in your profile ASAP.

    I'm getting your automated alerts for this thread bounced back at me.

    Thanks!
     
  8. starlight

    starlight

    Posts:
    11
    Likes Received:
    0
    Joined:
    Sep 26, 2005
    MA's and Fat Prophets

    Well since my last post I have been looking around these and other sites regarding a simple entry and exit point for some sort of system.
    Seems the majority prefer moving average types, 3 13 39 5 15 30
    etc. All warning of whipsaws etc. Some say include a Directional movement indicator to avoid the above.
    We have ppls for and against including ROR , OBV and ADX in the above
    analysis
    Yes I am looking to go down the path of Mechanical Trading.
    Anyhows I am in Darwin, and last Thursday I went along to a Fat Prophets
    investment evening, The two boys were there explaining their golden rules and future of gold, oil and the finance sectors.
    Wasn't a bad evening.
    Cheers
    starlight

    ps a pat on the back for the admin ppls who look after this forum.
     
  9. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    3
    Joined:
    Jun 18, 2004
    Re: MA's and Fat Prophets

    Hi Starlight,
    Welcome to ASF! Must be hot up there nowadays with summer in full swing.
    Like to share what the fat boys had to say about futures, gold, oil etc?
    I'm interested.

    Also, thanks for the thumbs up about the admin- Joe is the main workhorse, slowly but surely taking this site to dizzy heights!!
     
  10. starlight

    starlight

    Posts:
    11
    Likes Received:
    0
    Joined:
    Sep 26, 2005
    Re: MA's and Fat Prophets

    Hi Richkid
    We dont have the four seasons here in the Top end, Its either the WET or the DRY. The Wet is here with us now, high humidity and welcome rain at some times. The monsoon should really wet us when it normally arrives here around Christmas.

    A brief was not issued at the meeting, so I had to take notes......

    The Fat Boys (your term :>) advised on avoiding the Banks, avoid the US, avoid international trusts funds portfolios. Also avoid growth!!! I misssed the meaning of that???
    The good news was LHG Lion and OSA.
    Their Golden Investment Rules were a bit contradictory, I dont believe you can have a plan and be contrarian within the same plan.
     
  11. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    3
    Joined:
    Jun 18, 2004
    Re: MA's and Fat Prophets

    Thanks starlight, yes, I should have remembered about the tropical climate (or is it subtropical?).

    Yeah, don't know what they mean by avoid growth, maybe they expect lots of volatility. They have their own hold and hope strategy, not stop losses from memory, they are all about stock selection and seem to have a good track record (I haven't audited it myself though), there is a thread here on ASF on Fat prophets that you may like to look at, do a search it should come up or ask me. LHG is already running so they're okay on that front. Will look at OSA too. Their site has lots of free tips, they publish them so that the public can jack up the price once the subscribers are on it early imo. the FP site is quite good btw.

    Look forward to chatting with you more, enjoy the forums!
     
  12. starlight

    starlight

    Posts:
    11
    Likes Received:
    0
    Joined:
    Sep 26, 2005
    Re: MA's and Fat Prophets

    Thanks Richkid
    It is tropical, and we are now in our build up towards the wet.
    Yes I have been to the FP site many times, but please remember FP lean towards investment not trading.
    I went along to their course because it is a novelty to see such (may I say)
    'talent' here in the Top End re ASX.
    Is that right? you have posted 1700 odd posts here?
    oh dont forget Lion :)
    cheers
    sl
     
  13. kerosam

    kerosam

    Posts:
    263
    Likes Received:
    0
    Joined:
    Aug 20, 2005
    Re: MA's and Fat Prophets

    hi fellows, thought i'd chip in a bit...

    i subscribe to Fat Prophets weekly recommendations. bought about 5 stocks on your recommendation list but sold out all but one. they seem to be investors more than traders. my subscription finishes next june or will be monitoring their performance.

    starlight, missed the seminar in darwin by the fat boys... was down with a flu bug. i hope the coming wet season is forgiving... can't take another cyclone warning.
     
  14. starlight

    starlight

    Posts:
    11
    Likes Received:
    0
    Joined:
    Sep 26, 2005
    Re: MA's and Fat Prophets

    Hi Kerosam
    You sound a bit worried if we do have a cyclone warning, sounds like you experienced Tracey.
     
  15. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    3
    Joined:
    Jun 18, 2004
    Re: MA's and Fat Prophets

    Hi Starlight,
    Yes, investment is there ethos. I've posted a lot but that doesn't mean quality I'm afraid! I like fat prophets explanations and general layout.
    I notice they have some big winners, and some big losers and don't use stop losses, that's a worry but they must be doing well with this bull market.
    Interesting to discuss these tipsheets....
     
  16. It's Snake Pliskin

    It's Snake Pliskin

    Posts:
    3,880
    Likes Received:
    3
    Joined:
    Apr 21, 2005
    Re: MA's and Fat Prophets

    Starlight,
    I like the avatar!

    "Don't go for growth...."
    I like that one. The industry is designed to beat you into submission just to support those who have interests in the industry.

    Snake
     
  17. kerosam

    kerosam

    Posts:
    263
    Likes Received:
    0
    Joined:
    Aug 20, 2005
    Re: MA's and Fat Prophets- starlight & snake pliskin

    Starlight,

    only here for about two years but the stress i got from Ingrid was bad enough. hope the early down pour this season will minimise the build up peak early next year.

    Snake pliskin, i think it is a good idea to discuss about Fat prophets recommendations... to get others' opinions. i hold GGN, one of their recommendations. Got them at 33 cents and was glad there are finally some up movement after 2 months. Telstra was a disaster.

    how about yourself?

    note: would we start a new thread instead?
     
  18. It's Snake Pliskin

    It's Snake Pliskin

    Posts:
    3,880
    Likes Received:
    3
    Joined:
    Apr 21, 2005
    Re: MA's and Fat Prophets- starlight & snake pliskin

    Kerosam,
    I'm not sure what your last line means but I don't subscribe to any tipsters or recommendation companies.
     
  19. starlight

    starlight

    Posts:
    11
    Likes Received:
    0
    Joined:
    Sep 26, 2005
    Re: MA's and Fat Prophets

    I dont subscribe to any either Kerosam.
    Am working on a mechanical trading plan, I think thats what it is refered to here. I wish to stop being influenced by the newspapers and other media regarding the markets.
     
  20. RichKid

    RichKid PlanYourTrade > TradeYourPlan

    Posts:
    2,981
    Likes Received:
    3
    Joined:
    Jun 18, 2004
    Re: MA's and Fat Prophets- starlight & snake pliskin

    Hi Kerosam,
    I was thinking of starting a new thread and then realised it would be easier to merge this thread with an existing one on fat prophets, so here we are, all the fat prophets discussion in one thread. There's also a thread on the Fat Prophets listed investment company called the fat fund in the ASX stock chat forum.
     
Loading...

Share This Page