Monday, October 6th, 2008...2:53 pm
The Hobos Saw It Coming
hobos_saw_it_coming
Below: 00:00:05 “It was called the Great Depression, and the Hobos saw it coming.” Ummm, who DIDN’T see this day coming? Trains don’t go from 0-60 mph in a few seconds. The hobos could tell you that. The market moves much like a train. The image above is easy to read when you apply railroad tracks. Even a hobo could see it coming. Enjoy the history clip and my “for the record” commentary.
All drama aside, let’s discuss a few things. Have you ever wondered why my Covestor account (3rd party verified trading results shown on the right) is blank? It’s because I’m in cash. My largest stock position was closed on 12/17/07 and my account has been completely liquid and inactive since 03/08/08. The trading strategies that I know to be profitable will only be profitable and poised to outperform in neutral or neutral/bullish markets.
Waiting for these conditions requires the one discipline our free market rewards the most, patience. Patience is boring. It is impossible to keep an audience glued to a blog about patience. That is why most of my material is light and fun. It has the undergirdings of an extremely confident investor who knows the game and likes to make sport of it.
