On Auditing
I am passingly familiar with an investor and online presence who is a regular poster on some forums and social media websites that I use. She/he/it uses a nom de plume, never has anything constructive to say, and the things that she/he/it does say are usually designed to reinforce his/her/its (i suspect manufactured) persona as an investing genius and somebody that other people should listen to. This type of character is not unusual in the investing world.
Even so, I never miss a chance to mentally rag it for its asinine comments and recently, it has created a website with a record showing a portfolio of shares that it has bought and held over the past few years. It is a bizarre list of shares, albeit with very attractive returns despite a couple of losers, and I suspect that the list is largely the invention of hindsight. I shared it with a colleague whose first comment was ‘nice record, not audited though.‘
And you know, I felt very smug for all of about 7 seconds, until I realised I was engaged in exactly the same venture, trying to create a track record on the internet with no proof. Suffice to say I’m a little more sanguine about old mate’s portfolio now.
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