The magnanimous misfits from the “futures trading pits” have spoke loudly, in baritone tones: sell equities, for the end is near. The futures guys are some of the least educated people on Wall Street. On average, they have junior high school diplomas and 90% of them have criminal records. They spend their days losing money in the market. At night, they burgle the homes of investors.
I remember meeting one of these people long ago: a very strange man, clad in velcro sneakers and a suit that resembled polyester. He made himself out to be a big deal, always chatting about his exploits, throwing stupid futures slang talk around like a hooker in the Bronx spreads STDs. No one really cared about the futures. Real people of finance laugh at them, poke fun at the futures guy for having a bad job and a stupid brain.
So as I watch the futures decline, just know, it means absolutely nothing to me.
In summary, the futures guys remind of Hillary Clinton’s moon face: positively nonsensical– and at the same time– whimsically idiotic.