It’s the stupidest lesson never learned. Each and every time I float about the office in ancient Roman costume, burning sage in fire pits, slapping people with my leather sandals, I get corrected. I get corrected when I focus more on spending my money than earning it.
I get corrected when I push the limits of reason to the extreme, begging for something bad to happen, daring it to happen.
Over and over again, I exhibit periods of brilliance, only to be foreshadowed by irrational emotion.
I had to reduce my exposure today due to the severity of my drubbing, off by an appalling 5.2%–cutting my year to date returns down by a third. My overall net exposure, after my AG and CCL shorts, is 90% long. Shorting AG was purely reactionary, an act of destitute desperation, as my face melted off into the bell.
As luck would have it, yours truly was escorted out from his office into a large truck to “pick up a couch” from a store. The insanity of Mrs. Fly has no bounds, as she cuts corners on furniture delivery, only to attempt to bankrupt me with persian rug purchases.
The market is either going to trade up or down in the immediate term. How’s that for a predictions. I can’t lose.
Like I said yesterday, only the Fed can bring the market down, and that’s exactly what happened today. Some of the beardless members at the Fed are calling into question QE-infiitum. They don’t have the balls or the facial hair to challenge Mr. Bernanke and shall be vanquished, dispatched, in short order.
Young folks out there, the reader class, you have nothing to fear–whatsoever– but yourselves. Only you can crush your brokerage accounts by making poor decisions. Move up the market cap ladder and avoid taking on leverage after 12 up weeks in a row.
I feel like punching a grandfather clock in the face–losing all of this money in one afternoon–humbled and corrected.
Listen to the brooding melodies of Glass, symphony 8, mvt II, as it embodies my mood perfectly.