Stacy Summary: I know everyone on this site has seen the silly schoolboy type slurs and insults lodged by Jeff Christian at Andrew Maguire. Jeff apparently believes one must STFU if one hasn’t ever worked for Goldman “Doing God’s Work” Sachs. Frankly, I found it too pathetic to comment. But I think Rick Ackerman’s response is a good one and want to share it. Rick, for those who don’t know, was a market maker for 12 years on the floor of the Pacific Stock Exchange and then contributor to Barron’s for over 20 years. Here are his thoughts, as expressed on Forbes hit piece:
No real trading experience? Only an embittered ex-wife could invent such an outrageous claim. The tradable ideas that Andy used to post regularly in my chat room (Rick’s Picks) were nearly always a step ahead of Goldman’s precious metals desk. He generously bestowed on the room a nifty trick we referred to as “Andy’s Indicator,” a technically-based signal that is one of the most powerful and effective trading tools I’ve come across in my nearly 40 years of trading. Nor do we find any mention in this Forbes hit-piece of Andy’s astounding prediction, for the benefit of a Congressional panel, of exactly how the gold market would be manipulated the following day.
Who cares whether he worked for Goldman? His knowledge of the inner workings of the metals markets is surely equal to that of Goldman’s best and brightest. How sad that Andy’s courageous testimony against a criminally rigged game has made him the kind of enemies who will say absolutely anything to discredit him. To all who know him — other than his ‘ex’, that is — Andy is a gentleman and a stand-up guy.