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Mark Cuban bemoans the good old days like any technical trader before they were beaten out by computers. He doesn't advocate trading on fundamentals. The battle
by Permit 14y ago
Mark Cuban bemoans the good old days like any technical trader before they were beaten out by computers. He doesn't advocate trading on fundamentals. The battle cry against high frequency tradings seems to come primarily from individuals who were previously successful in specialist trading.
Here he talks about how he bought a stock, watched it climb then shorted it and celebrated its bankruptcy: http://blogmaverick.com/2008/09/08/talking-stocks-and-money/ http://blogmaverick.com/2008/09/08/talking-stocks-and-money/
But yes, speak to us from the moral high ground. Cuban simply rode what essentially amounted to a pump-n-dump. He wasn't doing the promotion, but he sure as hell wasn't in it for the long term growth of the underlying company.
Here's a fantastic quote from Mr. Cuban: "What about fundamentals? Fundamentals is a word invented by sellers to find buyers.
Price-earnings ratios, price-sales, the present value of future cash flows, pick one. Fundamentals are merely metrics created to help stockbrokers sell stocks, and to give buyers reassurance when buying stocks. Even how profits are calculated is manipulated to give confidence to buyers."