The bold emphasis is mine.CNN wrote: Paul Glandorf rattles off stock ticker symbols the way most people talk about popular TV shows and music.
At age 77, he is anything but a stereotypical Wall Street trader. He lives in Ohio and prefers casual "retiree clothing." (He put on a tie for this photo.) But his returns would make many top investors salivate.
He participated in an investing competition in 2013 where you had to buy five stocks on January 1 and hold them through the end of the year. His portfolio finished the year with a whopping 71% return...
...Since he took over managing and trading his own funds in 2001, he is clearly doing something right. Glandorf said that he typically invests about $10,000 each in a portfolio of about 75 to 80 stocks. So that means he is putting between $750,000 to $800,000 to work in the market....
OK CNNMoney, please prove your statement that "he is clearly doing something right" over the 13 years he has managed his own portfolio. You offer NO empirical evidence that he is, other than a good year in 2013 picking five stocks (just try repeating that success over 13 years).
If you were an actual journalist, then you would have supported your statement with an analysis of his actual risk-adjusted returns over the past 13 years and compared them to, say, a conventional index fund portfolio. But you didn't. So your article is a joke -- a total puff piece.
And even if he is beating the market over 13 years, if you were an actual journalist who writes about facts and not just puff pieces, you might have pointed out that he is a rarity and that his experience is not easily duplicated.
I enjoy human interest stories as much as anyone, but if you're going to write that "he is clearly doing something right," then please back it up with some actual fact-based analysis. A one-year outsized return in a stock-picking contest in a bull-market year does not qualify. Obviously someone is going to win the contest; winning the contest doesn't prove your investing strategy is right going forward. It may just be luck. This just strikes me as lazy reporting. She just got a few quotes from him and wrote an article that, while interesting, offers no real guidance that you can put to work.