You are all degenerate gamblers. “But Ramp, I don’t gamble, I invest.” Ok, keep telling yourself that. The market attracts degenerates like yourself. Ask yourself a simple question: How long could you go without checking the market?
I ran an interesting poll on Twitter and here are the results:
Poll: How long could you go without checking the market?
— 3:30 Ramp Capital™♿️ (@RampCapitalLLC) August 30, 2016
I have to say, I am in the 1-hour camp whenever I have any access to cellular data or wifi. If I don’t have access to cellular data, I find a way to get a hold of a paper or gain access to wifi. It has almost become a problem. Why do we feel the need to consistently keep an eye on the market? Even if we consider ourselves active traders or active investors, we don’t always make the moves we said we would when we consistently keep an eye on the market because we second guess ourselves.
Take today for example. As I type this, the market is down 1.85%. We haven’t made a 1% move in 2 months. In that 2 month span I bet you were saying you would be a buyer of any dip. Well, guess what, the dip has arrived and you are probably not buying. Instead of buying, you are watching what everyone else is doing on Twitter, watching your portfolio grind lower, and waiting for a teevee talking head to tell you what to do. You are probably also tweeting arcane stock market quotes about trading price and levels and taking profits. Stop doing that, it’s dumb.
It is quite interesting to note how down days bring out the best in everyone on Financial Twitter. I’m not sure why that is, but I thoroughly enjoy it. People love to watch train wrecks from a safe distance because they are sick in the head.
We still have a couple hours before the Ramp. Let’s see what I have in store for the kiddos.
PS: I don’t gamble. I win.
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