trading idol that failed? listen, all of these zeroedge/austrian/inflationistas who are always warning that the end is near, when they actually believe their own nonsense, produce results like this, six years of no performance. sure his latest results have been OK, but six years of underperformance suggests no skill.
Another Trading God that Failed
- Thread starter billyjoerob
- Start date
if a buddy came to you and said that he'd gone nowhere for six years but he was a really talented trader and you should back him, what would you tell him?
I'll show you why data mining doesn't work. Here is the complete OPPOSITE of an Austrian thinker. Here is the guy that sucks the dick of the Fed and is all things Keynesian. Here is a guy that is arguably the most successful investor in the history of the world. And here is that same guy taking 5 effing years to get back to his water mark utilizing a strategy that is basically pro Fed.
How do like you them apples!
Yeah he sure does. But my God, of all the guys to go after to try to make a point, he picks Hoenig? LOL. I don't know what made him go down this rabbit hole.
And for those of you who don't know or remember what the midam is or was, it was located in the basement of the cbot. It was like a mini cbot for guys who didn't have the money to buy a seat there. They traded like mini-contracts. THAT is where this "trading god" traded. In fact, after looking at his audit, I'm shocked he even has 17 million under his belt. I would have guessed 500k. But trading god? come on. I know this is ET, but let's stay within two sigmas of reality. That's a wide enough band to post bullshit and still have a back and forth that resembles dialogue.
I generally agree with Hoenig's politics, and I have no idea if he's an Austrian, he probably isn't the sort of person to read that stuff. But fighting the momentum goes against everything he's said on tv and in his old column for smart money. He may have let expressing his views get in the way of making money.
How do you know he is fighting momentum? The guy as long as I've known him has invested in alternative assets. He doesn't short stocks or indices outright usually, he buys other asset classes that are not correlated to the overall market. That is his prerogative. There are plenty of "momentum" trend following funds that are going WITH this tape that are also not doing well or losing money. Just because someone is losing money doesn't mean they are fighting the tape. By his own admission on his website he states he specializes in "illiquid" assets. As in assets you cannot get in and out of very quickly. So yeah, the guy probably takes some heat when what little liquidity is there dries up.
My beef with you is not to defend a small local who probably no one else on this message board has even heard of, but rather to question your logic of saying he is getting killed or losing money because you "think" he is an Austrian thinker fighting the tape. I mean, admit it, you were making all that up. You saw one appearance of his on Fox news and you were ready to pen his biography. Not good man. Not good.
did you even look at the link posted? 68% his portfolio is short us treasuries, corp bonds and munis. and I don't know if you'd characterize that as momenturm or not, depends on the timeframe, but the only reason to do that is if you're an inflationista and expecting worse inflation numbers or an end to QE.