I really gave it the olde college try today, leveraging up with longs unafraid and unabashed, attempting to get my share. But it didn’t work out. If it did work out, I’d be talking extreme shit on here right now. The way I see it, I gained 1.58% on Friday and lost 0.49% today, so now my job is to not lose anymore. The only way to ensure that is through hedges, so I took some $SQQQ and $UVIX into tomorrow. In addition to that, I tossed on some old man stocks into the mix: $KMB, $KO and $CLX. We had very strong action in secular stocks today and should tech trade down again tomorrow, we will most likely continue this trend.
To bring you up to speed with my reentry into the wonderful world of money management, I was going to join a firm because I needed support, having hundreds of people interested in my services. But after speaking to this animals, I was reminded as to why I hated them in the first place: they’re all loser, fee collecting know nothings who delegate expertise and live vacuous and stupid lives. They are beneath me and if I cannot learn from them, I want nothing to do with them.
Ergo, I will establish my own RIA. This might take more time, perhaps 3 to 4 months; but it will be on my terms. I started the process today, so I am guessing by December I will be up and running. Only during this time will I talk to prospective clients, since once I lock in I am going to be fixed on markets and management.
Ciao
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Maybe the markets will have crashed by then so we don’t have to all go in at ATHs and unprecedented valuation extremes. But who cares anyway, at least we’ll all be together (smile.)