Whinier than millennials…

Friday, 22 December 2017
Melbourne, Australia
By Kris Sayce

  • Horace Rumpole resurrected
  • Trading mastery
  • Achieve your goals faster by doing this…

Today is your last chance to check out the special ‘trade secrets’ series by Jason McIntosh.

Jason was one of the top traders in the Sydney office of Wall Street trading firm, Bankers Trust.

But after leaving that firm in order to retire, Jason went on to help set up one of Australia’s best known financial newsletter firms. After retiring for a second time, to trade for his own account, we successfully lured Jason out of retirement three years ago.

Since then, Jason has been working for us, and more importantly, working for a select few of our private trading subscribers. And with spectacular results too.

How does Jason do it? And how can you join Jason and learn from his expertise? Well, first we suggest you check out the video series here. And then, pay close attention to your email inbox tomorrow.

Jason we’ll reveal how you can join him, plus details on a very special ‘promise’, which shows just how strongly Jason believes in his trading system. Look out tomorrow.

But for now, the markets, and then we take a swipe at a group of folks who are showing themselves to be whinier than the whiniest millennial…


Overnight, the Dow Jones Industrial Average closed up 55.64 points, or 0.23%.

The S&P 500 gained 5.32 points, or 0.2%.

In Europe, the Euro Stoxx 50 index ended the day up 18.13 points, or 0.51%. Meanwhile, the FTSE 100 finished up 1.05%, and Germany’s DAX index gained 0.31%.

At the time of writing (10:15am) Asian markets are yet to open.

In Australia, in early trade, the S&P/ASX 200 is up 15.94 points, or 0.26%.

On the commodities markets, West Texas Intermediate crude oil is US$58.20 per barrel. Brent crude is US$64.90 per barrel.

Gold is trading for US$1,266.85 (AU$1,644.59) per troy ounce. Silver is US$16.13 (AU$20.95) per troy ounce.

The Aussie dollar is worth 77.03 US cents.

Bitcoin is US$15,338.50.

Horace Rumpole resurrected

One of the biggest knocks against the so-called millennial generation is that they have an unrealistic sense of entitlement.

The claim is that millennials think they have a right to anything and everything: the right to own a home, the right to a well-paid job, the right own a car, the right to be happy, the right to not be offended, the right to have what they want and when they want it.

And more.

And the biggest knockers of millennials are the baby boomer generation. The baby boomers feel that they had it hard too. In fact, the baby boomers would argue they had it harder.

For that reason, the baby boomer generation can’t abide listening to the whining of millennials.

However, after the experience of the past week, when it comes to entitlement…when it comes to being whiny…we think we may have to set the record straight. Because right now it seems that baby boomers are giving millennials a run for their money.

Let me explain. Although, we will note that what we’re about to say could offend more of our readers than we care to mention. But, no matter.

You see, yesterday we closed the doors on the intake for one of our most exciting and (possibly) controversial new premium trading services.

That service is Extreme Crypto Trader.

The rising bitcoin price, and the rise of various cryptos, has been the investment and speculation story of the year.

At the start of the year, the bitcoin price was US$952. Today, as I write, it’s US$15,338. Although, by the time I finish writing today’s Port Phillip Insider, it’s possible the bitcoin price could be 10% higher or lower than where it is now.

And by the time you actually read these notes, the price could be 10% or more either side of that price. That’s just how crazy the bitcoin and cryptos markets are.

It’s partly for that reason we made an important decision before we launched Extreme Crypto Trader. Due to the risks, the extreme opportunity, and the value of the material we provide with that service, we introduced a new ‘refund policy’ for Extreme Crypto Trader.

That new policy involves not offering a ‘trial period’, which means ‘no refunds’.

Incidentally, that policy doesn’t end with Extreme Crypto Trader. It’s a policy we will roll out to our other premium level trading services over the next few months.

The purpose is that we wanted to reduce the chances of non-serious investors subscribing to the service. We wanted to weed out the tyre-kickers. Those who want to take a peek at the valuable information within the service, but who will then exercise the right we grant them to request a refund.

We’ve honoured a 30-day refund policy on our premium trading services since we launched our first trading service in 2008 — if you were with us then, you’ll know that service was called Swarm Trader.

Unfortunately, as time has gone on, we’ve noticed that more and more chancers are taking advantage of our goodwill. It has gotten to the stage where up to 45% of those who take out a trial of one of our premium services ends up requesting a refund.

To be honest, we don’t necessarily blame those folks. Those are (or rather, were) the terms. Those folks who requested a refund were simply taking advantage of the situation. Fair play.

But just because we’ve always offered refund periods in the past, it doesn’t mean we have to offer them in the future. And just as it was only right that we would honour refunds during the trial period in the past, to a reasonable person, it’s surely only fair that we don’t provide refunds when we clearly state beforehand that there isn’t a trial period, and that no refunds will be due, simply because someone changes their mind.

As we saw it, the launch of our latest premium crypto trading service was the perfect opportunity to introduce our new policy on refunds.

In short, starting with the launch of the Extreme Crypto Trader service, we will no longer offer refunds on our premium level trading services. The way we figure it, this should help to ensure we get a more serious subscriber. Someone who has taken the time to understand what the service is all about…who has thought long and hard about it, before they commit to buy.

As opposed to the subscriber who just subscribes on a whim, who doesn’t really get what it’s about, or doesn’t want to get what it’s all about…because their intention all along is to request a refund.

Well, those folks are out of luck. Of course, chancers are chancers. And despite the multiple times we mention the ‘no trial period’ and ‘no refund’ policy in the Extreme Crypto Trader promotion and on the order form, some folks are still demanding a refund.

And they’re bringing out the big legal guns too. By that we mean, the legal training they’ve gotten from the back of a cereal packet, from inside a Christmas cracker, or from spending 10 minutes Googling around the internet.

It’s funny. They want us to think they’re a modern day Perry Mason or Horace Rumpole.

Yet, despite their homespun legal prowess, it also seems they can’t read. Or if they can read, they claim they didn’t see the reference to the ‘no trial period’ and ‘no refund’ policy, or that it doesn’t apply to them.

As we say, chancers are chancers.

Unfortunately for them, our no trial and no refunds policy, and the disclosure of it is clear. Crystal clear. We sought legal advice beforehand, to make sure it was clear.

We’re not providing refunds on these services just because someone has changed their mind, or because they realise cryptos are too risky for them, or because the bitcoin price has moved around too much.

(You won’t believe some of the flaky requests we’ve received to convince us we must provide a refund. No luck.)

So why are we telling you this, airing the dirty laundry? Well, simply because whether you knew it or not, our old refund policy affected you, and not in a good way.

If we launch a new trading service, and almost half of the subscribers are ‘tyre-kickers’, it means they’re competing with you to buy into the recommendations made by that service. It means that there are almost twice as many people buying into sometimes exclusive recommendations, which could have the effect of pushing up the price.

Then when they’ve bought in, taken advantage of the recommendation, they then have the temerity to ask us to refund their subscription fee.

That’s bad for you because it effectively means you’ve paid for something in good faith, in order to get the exclusive and well-researched advice, whereas the chancers and tyre-kickers have got the same thing for nothing — once they claim their refund.

On top of that, it means we have to increase our administration and customer service resources in order to deal with these requests. That’s an extra cost. Guess who pays for those extra costs? That’s right, you, the person who subscribes in good faith.

I don’t know about you, but it doesn’t sound fair to me.

Of course, the chancers and tyre-kickers are bleating hard and loud about our new refund policy. Perhaps they didn’t think we were serious. That’s a shame.

We know this won’t be popular among some. And it will mean that folks will need to be sure about a particular service before they subscribe. But as far as we’re concerned, that’s good. It will mean folks will read all the details about a service before they subscribe.

And it will likely mean that you’ll see fewer price spikes in recommended stocks after the launch of a new service. That’s important, because over the next year, we expect to introduce you to more trading and investing ideas and services.

We want to make sure only serious investors, traders, and speculators join these services.

We’re not sure how you’ll feel about this policy change. But we can assure you that we’ve done it with the interests of our best subscribers in mind.

Anyway, let us know what you think about the new ‘no refunds’ policy. Just drop us a line. Send an email to cs@portphillippublishing.com.au and type ‘My take on no refunds’ in the subject line. We’ll publish some of those comments here in Port Phillip Insider in the New Year.

Trading mastery

Now over to Jason McIntosh. Remember to check out Jason’s latest trading mastery video here too. And also look out for Jason’s special invite tomorrow.


Achieve Your Goals Faster By Doing This…
Jason McIntosh, Editor, Quant Trader

If only I knew then what I know now…

Hindsight is priceless. It has the answer to almost everything.

Just imagine the advice you’d give your younger self. Chances are your career would progress faster, your parental skills would be better, and you’d sidestep a few financial blunders.

But relying on hindsight can be a hard slog.

You see, learning this way often involves trial and error. There’s also no guarantee that you’ll find the best way forward. You could stumble down dead ends for years.

If only you could benefit from hindsight without the setbacks along the way.

Well, it just so happens that you can…

The secret is to tap into someone else’s experience. This lets you learn from their mistakes and triumphs. It gives you an up-close look at what it takes to be successful.

I’ll explain how this applies to trading in a moment. You’re going to read about a strategy to fast-track your trading skills. The next few minutes could save you from years of struggle.

But first, a story…

Following in the footsteps of greats

Trading isn’t the only pursuit where other people’s experience can help.

One of my favourite pastimes is running. It’s something I’ve done since I was a school boy. And I still enjoy competing in races regularly.

I’ve had some terrific coaches over the years. They’ve been able to guide and encourage me towards my goals — goals that I wouldn’t have come close to on my own.

My most recent coach is Ben St Lawrence — a two-time Olympian and current National 10,000-metre record holder. Not only is Ben very fast, he’s also an excellent role model.

The story I’m about to share relates to a brief moment from training. This made me think about the process of excelling, and how it’s possible to reach your goals sooner.

Let me set the scene…

Ben is a hands-on coach. He doesn’t just tell his squad what to do…he shows us as well. This means we literally get to train alongside an Olympian.

A typical training session begins with Ben giving instructions. On this particular day, he tells us to run seven kilometres at a medium-hard pace. Not quite race effort…but fast.

Now, the members of the squad have a wide range of abilities. Ben caters to this by staggering the start. The aim is for everyone to finish around the same time.

Things get interesting in the second half of the run. This is when the group begins to bunch. I’m closing in on the early starters…and the fastest runners are on my heels.

This is when it happens. It’s literally a flash. An Olympian passes me.

It was as if I was standing still. And that’s no exaggeration. I was running at close to 15 km/h. But Ben was cruising at over 20 km/h. We were worlds apart.

Now, some people say I’m out of my depth — an everyday runner has no place mixing with elite athletes. They believe it’s better to train with people of a similar ability.

But I disagree.

You see, it’s the talent within the squad that makes it so valuable. Many are faster than me — especially the coach. Exposure to these runners hastens my own improvement.

Here’s the thing: I do exactly what they do. I make their training routine mine. I use their mental tricks to push harder for longer. This helps me reach a high level quicker than I would on my own.

Being around the right people is one of the best ways to improve faster. They provide a ready-made model of success. It’s a case of following their tried-and-tested strategies.

Your personal role model

Now, this story isn’t unique to running. You can apply the concept to just about anything.

Take trading for instance.

I’m fortunate to have had some amazing mentors. Learning from them has made a huge difference. This not only fast-tracked my career, it also put it on the right track.

Quant Trader can do something similar for you.

Let me explain what I mean…

Quant Trader has its own formula for success. It’s a process that comes from my own trading experience. There’s also a big influence from the great traders I had exposure to.

Have a look at this graph:

chart image

Click to enlarge

This is Quant Trader’s hypothetical profits since 1993. It assumes placing $1,000 on every signal. As always, there’s no allowance for costs or dividends.

Now, there’s a lot you can learn from this.

Quant Trader has a strong stock bias. The system buys into strength and exits stocks that falter. This is one of the key reasons the strategy has been successful for so long.

It all sounds so simple — buy when prices rise, and sell when they fall. That’s one of the underlying principles of good share trading. But many people do the opposite.

Just think about your own trading. Have you ever bought a weak stock hoping for a recovery?

Don’t worry if the answer is ‘yes’. Many traders fall for this trap. While it may seem like a good idea, weak stocks often remain weak. It’s generally best to avoid these situations altogether.

Another lesson is to let your winners run. This is the single most important factor in maximising profits. Doing this is at the core of Quant Trader’s success.

Sure, a quick 10–20% profit is appealing. But cashing in modest gains could hold you back. It means you can’t get the 100%-plus moves. These are the trades Quant Trader targets.

Remember what I said earlier:

…exposure to faster runners makes me better. I do exactly what they do. I make their training routine mine. I use their mental tricks to push harder for longer.

You can use Quant Trader in the same way — make the strategy your own.

And it’s an easy approach to understand.

Quant Trader is all about buying what’s going up, and avoiding — or shorting — what’s going down. You then cut your losses, let profits run, and use a trailing stop.

The mental side of trading is just as important. I’ll talk more about this in the weeks ahead. I want to help you become a better all-round trader — without the years of trial and error.

Until next week,

PS: Success in any pursuit can be a long time in the making. Many people work hard for years without ever really breaking through. Others finally reach their goals after a lot of struggle.

But you could avoid this…

The key is to find a coach or mentor who’s already successful. You then copy their methods…you make them your own. This could help reach your goals in record time!

All charts are sourced by Quant Trader unless otherwise stated.

Editor’s Note: There will be no market data today as the Port Phillip Publishing office is closing early today for the Christmas break.