18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,599 Blog Posts


My particular pastiche of holdings has netted me a 155bps deficit this morning, in spite of my high IQ and professional acumen. I knew the risks heading into today, barreling headlong into the fires, and now I’ve received my reward.

There are many ways to skin cats, make a living as a trader, stock operator, plunger, if you will. I happened to choose the path of day trader, an extremely rewarding and task filled adventure that never gets tired or boring. I only lose when I am a loser and when I am a loser, well, I deserve to lose. There are times like this when you can lament and complain about the world, about how it’s rigged and how you can’t get a fair shake, gosh darnit. Or, you can take a different approach and say “stop being a bitch, do better you fuck” and try to apply yourself in a manner that will produce wins.

Don’t get me wrong, I fucking hate my life right now with this market fucking with me. But at the end of the day, it’s my fault through my choices. The market had nothing to do with it.

I accept my mediocrity the past few months as part and parcel of operating on a very high level for a very long period of time beforehand and will work towards finding the equanimity I almost always find to get back on track.

Markets really do look and feel like shit. I pared down many of my positions, raised cash to 42% and have 12% short to hedge.

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