The People of Wall Street

Most of my dealings with persons of disinterest online have to do with people who’ve been wrong on the markets since 2009, bankrupt 3 times over shorting the markets, with extreme bones to pick with anyone and everyone who are long equities. This, of course, is nothing new in the world of speculation. It’s just that the shit throwers have a larger microphone to spew their rhetoric.

Chartists like to default on the lines on a graph as a reason to buy or sell stocks. Those lines are usually based on something fundamental. The chartists are either too busy or lazy to figure out why, so they chalk it up to “volume explosions” and “price explosions”– for breaching the holy and sanctimonious moving averages.

The fundamentalists are the brains on Wall Street. They do the numbers and sometimes get harangued by momentum moves, which defy most of the tenets of value investing. Their investments are often methodical, slow, but highly efficient.

The last part of Wall Street are the short sellers, which are broken into two distinct parties. The first are the value guys turned dark side, like Jim Chanos and at times David Einhorn. Although they are looking to destroy companies, there is usually a reason for their disdain, e.g. fraud, bubble, fad, etc.

The other part of the short seller cabal are the shit throwers. They cling to religious ideas behind their selling. They sell because a stock is up, or because insiders sold a little, or because a lock up expiration looms, or because a certain stock is popular, so they simply hate on it and short it. A perfect example of these people are the ones who insisted on selling short AAPL, right before the iPhone 6 release.

Clearly, there were better names to short, ones without $150 billion in cash, trading at extreme value levels. But they had to sell it because others liked it–peacocking all the way towards a tax loss. These people are trolls, vagrants, perverts, alcoholics, and gluttonous pigs!