I was complaining about Zero Delta Economic Activities.
Apparently Taleb was on Squawk on Thursday, making his smart remarks about how poor risk management is in the market and broader economy. How poor they are at looking at forecasting Errors, Computational errors...
for anyone who understands the problems the the CDO's the real problem is somebody fucked up the math in addition to making a False Assumption(housing prices never fall).
There was a story a few months ago about how the "Shell Gamers" in the financial industry... IE the Closet Indexers, and the Trend Chasers, The MoMo's.... were struggling.
For those that follow me..... I FUCKING HATE TO DAY TRADE!!!! Can't stand it. I think Day Traders are Guessers with Risk Management A bunch of PUNTERS... People who kick the ball and hope it lands somewhere good. "PLEASE LET THIS TRADE WORK!!!!!"
I'm not sayin there isn't a place for risk management, and for those that know I refuse to be behind on a trade. BUT I ALSO REFUSE TO TRADE more than 5 times a day. And hopefully trade maybe 2 or 3 times a Week.....
Day trading is like Masterbation, there are rewards but it's not like the real thing.
Rather than day trade.... I'd rather be doing Positive Economic activities
Like a JOB!!! Like Produce something ..... I know that is heresy to the shell gamers...
But you can't even analyze sample data, your math abilities barely rate basic algebra... and you are fooled by the smell of your own shit 90% of the time.
Need I say... I DRINK YOUR MILKSHAKE!
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, July 3, 2009
I'm an asshole
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