BNN, the Business News Network, is Canada’s flagship investment channel. There is a seemingly non-stop supply of guests appearing on the show sounding incredibly smart and well-researched, providing free commentary and recommendations on stocks to the channel’s faithful callers.
They Sure Look Smart
It would be hard to find people more well versed in many of the stocks they comment on, but you have to ask yourself a few questions as to if and how you should act on the information that is being doled out. A cynic would suggest that if they are giving away free information, it’s either not that valuable or they are hoping people will act on their comments which in turn benefit the speaker (example: a fund manager buys a position the day before and then proclaims it to be the next big thing, viewers buy it over time and the manager sells it after riding the price up).
Are Looks Deceiving?
Well, the good news is that there is a site out there that keeps track of pretty much EVERYTHING that is said by visiting guests. It includes the guest’s name, the stock’s price at the time of the recommendation, the date and any comments (in point form). You can search by stock (to see all the various guests’ opinions and recommendations on that one stock over time), or you can search by guest (to see all of their recommendations they have made over the years on various stocks).
www.stockchase.com – I’ve set the link to point to the list of guests whose last names start with A to E. Feel free to check out this great site and feel free to let us know if you can find anyone who is consistently right.