That's the sweet spot. Porter Stansberry: Well, listen, Richard, we had you up here to talk about what you can do for investors and helping them manage risk in their portfolios. Can you just give us a little bit of an overview of where you are now in TradeStops casinoslots nz? You know, a long time ago you started out sort of as an alerts company that would help people manage trailing stops.
But TradeStops does a lot more now. And in particular, as you know, I'm really interested in the way that you can rebalance people's portfolio for risk and help them make better overall returns. Richard Smith: Absolutely. We did start out as an alert services company. And trailing stop alerts – which I literally learned about from you and Steve Sjuggerud, right? Porter Stansberry: Yes you did. And I think you wished that you had followed them during the tech crash. Richard Smith: I absolutely do. That's how I knew they worked, because I actually back-tested my own portfolio and saw: holy smokes, I woulda made a lot more money if had used these, and I woulda had a lot less stress, right? [Laughs]. Porter Stansberry: You would've had a lot less stress. [Crosstalk] Richard Smith: All the second-guessing about when to sell, right? Porter Stansberry: Yup. Richard Smith: You know, it's incredible. But then later on I started to – the next question I asked was: "Well, should we use a 25% trailing stop on everything?" And I did some work to come up with an algorithm. Initially I called it the Smart Trailing Stop, and it used volatility to identify an optimal trailing stop on different stocks depending on how volatile the stock was. So Walmart and Johnson & Johnson, maybe 10% to 12%. Tesla, 30%. Apple, Microsoft, 17%. Etcetera. And that was very powerful to identify that. But once I had done that work and came up with that algorithm, I quickly realized that that number was very helpful to investors, whether they used it for a trailing stop or not. Just seeing the number – and I know, Porter, you know this: Just looking at that number was so helpful to – you know and I know: a lot of people who are investing, they're successful in life but they're not financial professionals. Porter Stansberry: Lots of our customers. Richard Smith: Lots of our customers, right? And no knock against us, you know? I was one of them, right? I had to learn. But I had to spend a lot of time doing it. And your readers, my subscribers – they're successful people in life, have acquired enough capital to get into the markets, but they're not spending their whole lives studying finance and financial algorithms, etcetera. So they needed a simpler system, a way to kind of understand the risk that they're taking in the markets. And I found that that number, just looking at it – like 30% on Tesla. Here's one for you Northern Dynasty Minerals: 75% [laughs]. Porter Stansberry: Yeah. You can't really effectively use stops on junior mining stocks. There're some companies that're so volatile that the stop would be so wide it's almost pointless. Richard Smith: Absolutely. And looking at that number, seeing – for a novice investor to read about Northern Dynasty, it's an exciting story, right? But then see 75% volatility, basically you go, "Oh, okay. This isn't the same thing as investing in Walmart or Johnson & Johnson," right? Porter Stansberry: No, it's not at all. And tell people – if I can jump ahead. Sorry to cut you off. Richard Smith: Yeah. Porter Stansberry: This is the part that I can't believe about your technology.
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