If you got jerk’d into the futures market last night on news that Iran killed dozens of American soldiers, shorting futures that is, you got your balls toasted on top of a grill born in hades. I’m having a curious day, and will not get into smaller details, out of respect for the good folks inside Exodus. But I am short oil with extreme leverage and that is working wonderfully today. I also have shorts in biotech and semis. Those are not fairing as well.
The balance of my portfolio is long, fully. I sold out of HMI today for a 6.5% overnight success. I also stepped into another SAAS stock today, bulking up on some of my favorite names. Stocks are at record highs. I have no qualms with people attempting to catch an inflection point or a reversal lower. But I do take issue with people who pretend we’re not at record highs.
If you had problems attaining market returns in 2019, it was because you traded stubbornly. You didn’t conform and thought you knew more. Well, more often than not, this is a recipe for disaster or at best underperformance. If you’re not a good trader, as evidenced by a long rich history of profit, you’re better off in a quantitative portfolio or even a best ideas pastiche, providing it has diversification and isn’t designed for gambling. The true secret to generational wealth, something I of course still strive to attain, is compounding returns over a long period of time without squandering it. Most people squander good work during periods of poor judgement. Greed or avarice kicks in and next thing you know 2 years of gains are gone, or worse.
You’ve worked hard to make money and have been fortunate enough to be born into a country with upward mobility. It wasn’t all luck, since your genetic make up had a lot to do with your perseverance. Do not squander your earnings via hubris, the notion that you are unique and selected to have a 3rd eye — causing you to commit elemental errors in a forlorn quest for financial independence. Fuck the people in the lambos and the Instagram flexes. All of that is happenstance, luck, or perhaps thanks to a genetic enhancement that only affects 0.01% of people. The market isn’t hard to game when you elongate your time frame. This isn’t rocket science or something that requires decades of study. Investing is easy. Trading, however, is an entirely different story. If you cannot trade well, do not try it. Instead, use blunt instruments like Le Fly for your picks. I serve fresh fish daily.
Au Revoir, Shoshanna!
If you enjoy the content at iBankCoin, please follow us on Twitter
nice positioning, Boss
No gold?
I traded hellishly stubbornly on AMZN, so that’s a good lesson you’re preaching. However, the illusion of “Investing is easy” has been created by a lifetime of falling interst rates + grawign population, both trends on their way out. This will end horribly in a few years.
Who would have predicted that we would see a bull market of 10+ years after 2008? Not many. More importantly, who would have predicted that interst rates would be lower 10 years after the last recession? Not a conicidence. The FED only has enough ammo for one more recession, because they didn’t reload after the last one.
I and many other did. It was right in the blunt smokers thesis
boombust not bull
once it was clear that they hooked up backdoor quantum tech to the indexes, and showed they could pivot any significant drop by 2014, they could take it as high as they want. “unfortunately” they took it to redline overheated bubble “high”
What month was that approximately?
Hi inner wall st CB circle
3281.
I just named a number
you cant get the S&P
to hit. Can’t even touch.
have a good day
2020 and 2021 will be a repeat of 2007 and 2008, albeit smaller moves. Fully expect 22000 on the Dow between now and middle of 2021.
Ciao:)
Correct investing is easy… trading is hard…. unless you have a vagina 🙂