The FLD concept was a certain approach to trading and seemed to come from a guy that was highly respected by alot of people. So how could the plays go wrong?
It went wrong for three main reasons:
1. The company is a complete mess.
2. People will say they're "team players", but many will lie about their holdings, and many will sell without telling others. ALWAYS happens.
3. There's no significant short in EIGH, as the "newsletter" in fact demonstrated.
FLD won't work if the company is a scam... Who knows, Monk may be the biggest scammer out there. To trust in online/forum gossip and not doing proper DD leads to GREED, that leads to hopeful FLD plays that often will fail. Look at CDIV
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