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In today's Foolish Workshop / Foolish Four column TMFAnnC announces the formation of an official Workshop portfolio.

I don't see any point in having an official real-money workshop portfolio. The advantage of mechanical investing is that it's .... well mechanical. You can announce a given strategy on the boards after which we can all verify the results. It's only when you are dealing with subjective portfolios like the rule-breaker or rule-maker where exact rules for future stock picks can't be written down ex-ante, and that involve an element of luck specific to the stock picker that a real-money portfolio makes sense. Moreover, there's a huge number of MI screens available, so any portfolio will be nothing but a tiny corner of the universe of possible portfolios. I can't think of any value-added from having an official real-money portfolio when many can be formed unofficially on the boards. The risk is that some visitors to the TMF site will blindly follow the portfolio, especially if it's successful in the beginning. Yes, they should read all the warnings and disclaimers but trust me many don't. In my mind there's only one way to fully understand what you are into when using MI screens, and that's by reading the MI or FW boards. Again, many will not do that. The real risk is that this new portfolio that's followed officially becomes totally disconnected from reality as represented by the board. This happened for the official Foolish Four portfolio where most vitsitors to the site only learned about the official view that clearly was mistaken until recently. A few ventured onto the FF board and became educated.

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