YouTube Trading Gurus all made 2,700% on Kodak?
YouTube trading gurus were all over Kodak stock this week – after it already peaked, of course.
The YouTube trading gurus, at least the ones trying to sell a course or a stock alert service, try to create a perception of impeccable market timing.
However, as we’ll see with Kodak, they know the same (or less) as the rest of us.
See the thumbnail below. This is the same approach many of them use; display a huge percent return number to draw in viewers who want to become day traders. Of course, this guru didn’t buy Kodak before the huge spike. He just wants you to start thinking about 2,700% returns before you hear his pitch.
Notice how all these videos were posted on Wednesday or Thursday- after the spike happened.
Now, there’s nothing wrong with covering the financial news, which includes Kodak stock. The problem is stock market gurus who insinuate that they saw a huge move coming, or otherwise try to associate their stock picking techniques with a 2,700% return.
In my opinion, spending money on a stock market guru’s course is a bad idea. Take the time to learn the mechanics of the market yourself. Read Investopedia, market news, and watch stocks. There is no magic formula that these gurus can teach you.
And remember, if their stock tips were so great, they would just make all the money themselves instead of bothering with running a stock alert service.