I completed sales of everything today, cashing out of the markets, down more than 30% for the year.
Thus completes the most stunning reversal of fortunes to date in my life.
I’ll be laughing about this next year.
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Cain, thanks again for the blog.
Cain, may your feet never fall off and grow back as cactuses. Enjoy your time out.
Big thanks for all of it Cain
I sold half of everything energy-related. Oil can bounce now.
This sucked.
Again, thank you MCT for the transparency.
Looks like you made the right call. I’ve appreciated following some of your ideas in the past, most notably AEC which I unfortunately pulled out of a bit too soon but still made great money on. Looking forward to seeing where your money gets deployed once you start buying again.
Market flushed shorts yesterday with reversal and punished longs today. Maximum pain inflicted once gain.
The only “out” is now PBOC stimulus. We need them to start building empty houses again and using commodities to do it..
There comes a point where every man has to look around him and ask, “am I the dumbass here?”
For me, that was today.
I do that on the daily.
I’m sure you’ll be laughing more sincerely if oil and the markets replay 2008
Also, a few days ago said how retail was position like market vets by buying this oil dip, so in a few weeks those margin calls will probably push the stocks further down.
CNBC said
Hang in there CT. You will get it back. Thanks for the blog, always appreciate your perspective.
I guess you have to decide the ship is sinking before you totally bail. I appreciate you guts and your perspective. Dismantling my portfolio slowly but your way may prove more savvy.
Godspeed Mr. Thaler. You’ve got the benefit of a new beginning. Pour yourself something strong and put your feet up for a bit.
Looking forward to your next post after you’re break from this madness. Thanks for the recent posts revealing what I’ve often felt myself but never shared.
Being down 30 is better than being blown up like many I imagine.. Next year will hopefully be better for everyone here.
So your basically even for 24 months
+30 for 13 and -30 14
Therefore you can still come out to play
Basically. But I lost one of the best rallies of the past five years, to dust.
That’s not close to even, you’re still down 10%
Ugh, thanks for running the math there…
Cain – I am researching high leverage Oil E&P’s with a view to shorting some. Do any stand out to you?
Little late for that game.