Happy Thanksgiving Eve

You should all be very thankful to Le Fly for providing you with endless hours of entertainment and education. Thus far, I’ve only received 10 emails of gratitude on this Thanksgiving Eve. Feel free to send your note of gratitude to [email protected].

Markets are soft, but do we really care? Turkey Day is upon us and now is the time to be traveling or prepping the house for company. I will have you know, Le Fly makes the best stuffing the world has ever seen and will be partaking in a little culinary expedition tomorrow.

Back to stocks, my hands are tied here. I can and will do nothing ahead of Black Friday and Cyber Monday. I expect markets will plod along here and come to a resolution on Monday. At that point, I will either part with my inverse ETFs or buy MOAR.

My quant trades are rummaging higher today — the complete opposite of my pastiche of gut checks. If I can offer you one candid suggestion on this Thanksgiving Eve: stop trying to be a guru. Trading in and out of stocks is really great and fun — but often a recipe for disaster. Read up on Sharpe ratios and standard deviations and truly start to understand that the long tail approach is preferable to the gyrations of active trading.

Over the next month or so, I will try to get both Sharpe ratios and standard deviations into Exodus, in an attempt to school you clowns on professional asset management.