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Deep Market Thoughts...It's a Casino
Howard Lindzon
April 23, 2008
Nobody was hotter than The Fly to start 2008. On Fire and funny and in your face. I have mostly stood aside and that has been tough, boring and unprofitable for the most part but the right thing to do. The Fly kept pushing. He was playing with the house’s money and he was hot. The world was (maybe still is) coming to an end and he was going to die the only rich guy on earth.
Things turned for ‘The Fly’ and his portfolio of death and armageddon. I think he got funnier, cockier and meaner. Problem is he started to ‘sound smarter’ too and nobody is smarter than the market. One thing I want everybody to agree here and continue to remember is ‘SMART’ does not equal profits. You need to be flexible and practice money management.
Now the Fly is getting back to basics and hitting ‘The Reset’. That does not mean he is wrong, it means he is smart enough to understand that making money only happens if you stay in the game. That’s SMART.
My stubborn approach of marooning myself on the island of Armageddon has ended.
No longer will I dedicate countless hours to internet rabble, discussing the current state of the housing market or retail sales. It worked for awhile and now it’s bullshit.
Do not take this post as some sort of capitulation. It’s more of a realization of errors and obedience to the market headwinds.
Eventually, the market will trade lower. In the meantime, I need to start making money again.
Profits will start coming again soon. I feel it.
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