Blasting this one out just as the market opens...
Been v busy over the past month but I'm spending some time writing this one for fun.
There's been a lot of drama over at ShareProphets about Chris Oil 'abusing the market' by reportedly tweeting that a stock is a BUY... while SELLING!
Haven't spent a massive amount of time researching this, but let's assume that's true.
Now... is this... right or wrong? Good or bad?
I have to say that you SHOULDN'T make investment decisions on the basis of a tweet. You should do fundamental analysis of the share and in my view aim to make a good long term investment. A tweet is almost meaningless really. Remember that everyone is doing what they think is best for themselves. You have to take responsibility for the investment decisions you make.
I also have to say though TWEETING THAT A STOCK IS A BUY AND SELLING IS PRETTY BAD.
I've never done that and never will. Personally I avoid AIM stocks anyway as they're mostly too risky.
But what else can I say... looking at the whole share investing and share writing picture?
Chris Oil rang me up a few months ago and we had an interesting conversation about oil. I think he knows his stuff there. One of my most recent share purchase has been Royal Dutch Shell. I do believe that over time oil prices will rise, and Shell should be in good position to exploit that. Decent yield and good PE ratio too. The shares are still worth a buy at this price- my father thinks so too and I'm trying to convince him to buy more despite the fact that he "has a lot of Shell already."
How much did Chris Oil get paid for writing at ShareProphets?
I don't think he really needed/needs the money that much. I have the feeling he likes writing anyway. I encouraged him to set up his own blogspot.
I also have to say though... when I was writing for another website I'm not even going to name he asked me to not write articles so that his articles would appear at the top of the webpage. I didn't do that and found it quite... shocking.
I don't know man... I guess the drama will be good for ShareProphets viewing figures. Anyway, back to more money making for me!