Dennis Gartman
Dennis Gartman speaks like he trades — in simple, direct, repetitive language.
“Do more of the things that have worked,” he describes his bottom-line philosophy. “And try, try, to do less of the things that have not. If you do that in life, it’ll work.”
He repeated this mantra, or a variation thereof, numerous times during a 30-minute speech last week at Waverly Country Club in Milwaukie last week. With such simple advice, you’d wonder why he’d attract a full house of mostly brokers and advisors? Why would sponsor Uhlmann Price Securities use him as a recruiting tool?
Gartman’s detailed, daily newsletter has been followed faithfully by traders for more than 20 years. His opinionated, simple speaking style and experience regularly lands him on CNBC’s Squawk Box and Fast Money.
Dennis Gartman
Job: Author of The Gartman Letter fulltime since 1987
Location: Suffolk, Va.
Education: University of Akron, North Carolina State University.
Biography: Former economist for Cotton, Inc; chief financial futures analyst at A.G. Becker & Company, Chicago; bond futures trader at the Chicago Board of Trade; head of futures brokerage at Virginia National Bank.
Where you’ve seen him: Appears often on CNBC, ROB-TV and Bloomberg television, discussing commodities and capital markets.
Gartman’s philosophy, said another way: Buy what’s going up. Sell what’s going down, quickly. And don’t keep buying what keeps going down.
He doesn’t jibe with the likes of The Vanguard Group founder John Bogle and Princeton economics professor Burton G. Malkiel, who say investors do better buying and holding shares in diversified, low-cost mutual funds.
Not Gartman. He’s launching his own exchange-traded fund and hedge fund. He thinks hedging should be part any 401(k) account.
He scoffs at value-oriented, buy-and-hold stock investors who incurred deep losses last year. “Warren Buffett is an idiot, ” he said, emphatically, in a short interview after the speech. “Shame on Warren Buffett. That’ll be a good quote for your article.”
Yet, Gartman admits to being wrong two-thirds of his trades. He says his winners are big ones and make up for the losses. Malkiel, for his part, shakes his head at this.
“There is a bit of momentum in the market,” Malkiel said Friday via e-mail. “So his (buy going up, sell going …
Read the original article at Oregonlive
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