As previously hinted, the new project involves a website and a subscription based newsletter. Its a variation of the institutional research I’ve been doing for several years (only less dense and more readable). There have also been many requests for a live seminar (if that interests you, send an email here; the first seminar will be in NY next month).
What this will do is make available to the public a product similar to that going to institutional clients.
Part of the problem with making public comments about positions, specific trades, individual stocks, etc. is that it makes the lawyers freak out – they just hate it and go ballastic. "All risk/no reward" they scream. What happens if you change a position and you forget to post it? Are you posting everything? Is this audited? etc. etc.
The term "over-regulated" comes to mind.
It was bad enough when I was on the Sell side — I used to say whatever I wanted, on the assumption that so long as I was being honest and fully disclosing any positions, I was safe. The attorneys tell me that, despite there never being any "Imperial entanglements" I was probably more lucky than fully compliant.
It should be easier on the Buy Side without NASD regulations (SEC and State only) — but it hardly is.
Once this project goes live, this blog will stay mostly the same — for 90% of the posts — with the exception of individual names/trades/specific calls moving over to the subscription site. To subscrine to that, you will be require to jump through all the legal BS/disclaimers/waivers/smiting of the first born that goes with justifying all those billable hours.
At least, it will keep the lawyers well fed and happy . . .
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