"Smart money knows the stock market is finished"

[hgodden]

http://www.youtube.com/watch?v=B3ddIJaj ... r_embedded

[Euler]

A good way to get some great publicity

http://www.leadingtrader.com/

[LeTiss]

I laughed at one of the YouTube comments

"Invest in Cocaine, people will always have noses"

[superfrank]

'interesting that an alternative was aired on the BBC - I'm surprised they didn't cut him off pretending the comms had failed.

[Iron]

BBC financial expert Alessio Rastani: 'I'm an attention seeker not a trader'

http://www.telegraph.co.uk/finance/econ ... rader.html

[Iron]

Another case where the BBC got the wrong guy, interviewing a taxi driver who they thought was a computing expert: http://www.youtube.com/watch?v=atfNL0_KAcs



Jeff

[Euler]

Trader was not a hoaxer, says BBC

http://www.bbc.co.uk/news/business-15078419

[Iron]

Trader was not a hoaxer, says BBC

http://www.bbc.co.uk/news/business-15078419

I think this is a case of the BBC trying to save face.

The guy is quoted in the Telegraph article as saying:

"Trading is a like a hobby. It is not a business."

So he's a trader in the sense that he trades as a hobby, but when the BBC refers to someone as a trader, that's not the impression that's conveyed...

Jeff

[andyfuller]

I would expect traders to want volatile times as it creates opportunities, when I am trading the horses like yesterday there was a favourite ridden by Fallon that was refusing to go behind the stalls and playing up. I laid it for heaps and shouted at my TV as the price kept going up, "come on play up more" as it would mean I made more form the trade. I guess this is akin to traders wanting a recession.

I didn't really care that the more it played up the more damage it was doing to its winning chance much as the financial traders probably don't really care about the consequences of the current market turmoil - the more turmoil the more opportunity to profit.

We are in the business of making money at other peoples expense there is no getting away from that imo.

[Euler]

Here is the telegraph article where it is revealed he is not actually a proper trader! Another blagger I am afraid! Not that you could tell!

http://www.telegraph.co.uk/finance/econ ... rader.html

[superfrank]

Yeah but what's a "proper" trader?!!

I thought he made a lot of sense!, especially "governments don't rule the world; Goldman Sachs rules the world".

It was good fun to watch whatever.

[andyfuller]

The article tries to rubbish him but I don't see them disagreeing with his actual comments. The fact he lives in a 'small' house is utterly irrelevant for example.

I don't really get what the fuss is tbh as to whether he trades as a hobby or full time. There are plenty of full time traders who don't have a clue what they are on about imo and there are plenty of people who write trading books who aren't top traders.

It seems the story that is being pushed in the wider media is that the BBC were 'tricked' into thinking he was something he wasn't as opposed to people saying what he said was rubbish.

[hgodden]

I loved how earier on in the day in the telegraph piece they gave out his actual address, you really wanna be careful who you attack!

[Euler]

It seems the story that is being pushed in the wider media is that the BBC were 'tricked' into thinking he was something he wasn't as opposed to people saying what he said was rubbish.

It looked like that to me when I saw the feature. You don't see this sort of thing happening on CNBC. But the main point is that a complete novice by the look of it has been put on the BBC as an expert. He's obviously a bit of an attention seeker, trader or not.

I think that telegraph article summed it up quite neatly.

-------------------------

He is a business owner, a 99pc shareholder in public speaking venture Santoro Projects. Its most recent accounts show cash in the bank of £985. After four years trading net assets are £10,048 - in the red.

How a man who has never been authorised by the Financial Services Authority and has no discernible history working for a City institution ended up being interviewed by the BBC remains a mystery

The incongruity led to some commentators speculating Mr Rastani was a professional hoaxer. The BBC denied the allegation: "We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax."

However, the BBC declined to comment on what checks, if any, it had done prior to the interview.

Mr Rastani was a little more forthcoming.

"They approached me," he told The Telegraph. "I'm an attention seeker. That is the main reason I speak. That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking."

So he's more of a talker than a trader. A man who doesn't own the house he lives in, but can sum up the financial crisis in just three minutes – a knack that escapes many financial commentators.

[superfrank]

The fact he lives in a 'small' house is utterly irrelevant for example.

+1

He doesn't own his own home therefore his opinion doesn't count...

I used to like the Telegraph business section, but their recent NIMBY campaign shows just what they stand for.

Ed Balls gets a massive amount of media coverage while speaking utter tripe.