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Chris Becker says Macrobusiness has devolved into a pit of trolls and vested interests; Claims he lost $100,000 in time and money moderating their astrotufing on the Macrobusiness blog
Topic Started: 2 Dec 2013, 10:23 AM (10,567 Views)
Shadow
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Evil Mouzealot Specufestor

Chris Becker used to blog as The Prince on MacroBusiness before they fired him for destroying the MacroInvestor newsletter.

He posted a blog last week claiming he lost $100,000 worth of time/money reading and moderating comments from the trolls, vested interests and anonymous astroturfing armies who have taken over the Macrobusiness blog. Interesting...

Chris Becker
 
The internet is both the best and worst thing that has happened to society and to traders in general.

But this leads me to talk about managing distractions, and I know its paradoxical that you’re reading this now from my blog. I have come to the following 10 conclusions after several years of being “online”, including when I used to blog at MacroBusiness, writing an investment newsletter (MacroInvestor, bought by Intelligent Investor) and various internet fora and lately Twitter:

Do not read or get engaged in the discussion/comments area of major websites. These have evolved into pits of trolls, people with axes to grind and the anonymous armies of astroturfers from various interest groups. I have wasted so much time writing, reading and moderating these that I reckon I’ve lost nearly six figures or more. The only places to actually learn are specific enthusiast forums, or live chatrooms that have audio and video. Text only – i.e anonymity – is an anathema to proper discourse.

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Here's a reminder of how Chris Becker destroyed the MacroInvestor newsletter...

Posted Image
Edited by Shadow, 2 Dec 2013, 10:27 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Dr Watson
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Shadow
2 Dec 2013, 10:23 AM
Chris Becker used to blog as The Prince on MacroBusiness before they fired him for destroying the MacroInvestor newsletter.

He posted a blog last week claiming he lost $100,000 worth of time/money reading and moderating comments from the trolls, vested interests and anonymous astroturfing armies who have taken over the Macrobusiness blog. Interesting...

Was he fired from MacroBusiness or did he resign? If he was fired, are you sure the reason for his termination was his performance?
Edited by Dr Watson, 2 Dec 2013, 10:28 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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Shadow
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Dr Watson
2 Dec 2013, 10:27 AM
Was he fired from MacroBusiness or did he resign? If he was fired, are you sure the reason for his termination was his performance?
Well, they launched the MacroInvestor newsletter and charged subscribers an annual subscription fee, and then canned it after six months when their three 'model portfolios' (designed by Becker) all dismally underperformed the ASX. Subscribers were not refunded the remaining six months of their subscription.

Immediately after MacroInvestor was canned, Becker stopped blogging on MB. And now he says the site is infested with trolls and astroturfers.

Macrobusiness is down to two bloggers now, from its original 14 bloggers. Obviously David Llewellyn-Smith couldn't afford to pay everyone. I suspect Becker was told he wouldn't be getting paid any more (or getting a big pay cut) based on his disastrous MacroInvestor performance - which is basically the same as getting fired.

The failure of the MacroInvestor newsletter would have been a big blow to Llewellyn-Smith's hopes and dreams for Macro Associates. That's an annual $500 charge per MI subscriber, gone. Now he has been forced to charge members an annual $100 donation instead so himself and Leith van Onselen can keep paying their mortgages.
Edited by Shadow, 2 Dec 2013, 10:43 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Dr Watson
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Shadow
2 Dec 2013, 10:41 AM
I suspect Becker was told he wouldn't be getting paid any more (or getting a big pay cut) based on his disastrous MacroInvestor performance - which is basically the same as getting fired.
The circumstances do appear to indicate that.

Share trading is a tough business and I'm sympathetic to Becker. Very few people are good enough to succeed at it for any real length of time. I had a crack at it once and lost a bit of dough in the process.

Becker is absolutely correct about commenters having "axes to grind". MB seems to be almost a therapist's couch for many of the commenters these days. It allows them to vent their economic and political grievances. Some of them are legitimate grievances, but it soon becomes repetitive and predictable.

The trouble is the commenters have become parasites who are not really adding any value to MB. The axe-grinders are using the site for their emotional release while the astroturfers have their own agenda. Who is proposing original or constructive solutions?

Becker has raised a very interesting point. I think the same challenge of moderation exists for the newspapers and their blogs at a time of widespread cost-cutting in the media industry.

How long the media industry can sustain paying for this indulgence is the question.
Edited by Dr Watson, 2 Dec 2013, 11:43 AM.
The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt — Bertrand Russell
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peter fraser
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I have no knowledge of the internal machinations of Macrobusiness, but I do know that Chris Becker is a decent guy. One day I will sit down and enjoy a nice bottle of vino with him - cheers Chris.
Any expressed market opinion is my own and is not to be taken as financial advice
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themoops
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Dr Watson
2 Dec 2013, 11:41 AM
The trouble is the commenters have become parasites who are not really adding any value to MB. The axe-grinders are using the site for their emotional release while the astroturfers have their own agenda. Who is proposing original or constructive solutions?

They're just chardonnay socialist morons for the most part.

They can't get it through their stupid heads that negative gearing will never go and opening up the land will never happen, and even if it did, mass immigration would 99% likely see these new houses sold for the same price as they're going for now.

The time for talk is over, the only solution is a crash and a recession/depression.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Black Panther
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themoops
2 Dec 2013, 12:48 PM
They're just chardonnay socialist morons for the most part.

They can't get it through their stupid heads that negative gearing will never go and opening up the land will never happen, and even if it did, mass immigration would 99% likely see these new houses sold for the same price as they're going for now.

The time for talk is over, the only solution is a crash and a recession/depression.
Keep Dreaming TightArse.
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themoops
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Black Panther
2 Dec 2013, 12:55 PM
Keep Dreaming TightArse.
I certainly don't have to dream too hard. The system is a joke.
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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Blondie girl
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:z:
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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Suckpoppet
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themoops
2 Dec 2013, 12:48 PM
They can't get it through their stupid heads that negative gearing will never go and opening up the land will never happen, and even if it did, mass immigration would 99% likely see these new houses sold for the same price as they're going for now.
Tell 'em to move over here so I can abuse 'em
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