I hear they're getting ready to merge with PsiNet.
Sell the news?
I have to say, investing beats trading
- Thread starter Pekelo
- Start date
Sell the news?
All I can say is Nick Leeson is the man. Love how one guy can bring down the oldest Merchant Bank in England. Great checks and balances they had. But If you've scene the movie "Rogue Trader" all I can say is the trading jackets are straight dope. So many "red" jackets in every asian pit. Color of good luck over there. CBOT jackets take the prize. Merc color array sad. Give me a mesh back trading coat and a pack of Lazarre Trading cards any day of the week. Screens suck.
Indeed Nick Lesson was a very powerful man;
a single person could bring down a giant bank within hours.
I mostly trade but I do have some long term investments. For the long term investments I have a simplistic trend indicator where if breached I must 100% exit the stock. Such a simple thing would have gotten you out of Enron, Worldcom, Lehman, etc before too much damage was done to your portfolio. Something to think about if you've bought into and are buy/holding Bitcoin.
You need to be doing both.
Final blow up took hours but he was stuffing his bad trades in the five 8's account for months. Selling premium puts in the Nikkei to cover the margin calls. Earthquake blew it up. Ironically 8 is the good luck number in Asia. Best part is the guy went on to be hired as a CEO somewhere. I guess I shouldn't judge and believe in the power of people to transform themselves. Probably under a lot of pressure to perform as a young banker. But a lie is a lie. Barring's should have had better monitoring and it could have been stopped earlier. Wishing him all the best in the future. I suppose were all a mix of good and bad in the end.
In early 2002 I put all my savings of $10k in a sure winner, United Airlines. What could go wrong?
Hindsight bias is the most glaring show of inexperience I can think of. While I'm a big Tesla believer and did well this year trading Tsla, I'm fed up with these 2 bits YouTube now millionaire traders enlightening their followers with their deep knowledge of the market and Tesla in particular.
I would love to know 1. Have they sold and actually made money, 2. What other stock(s) have they successfully traded and 3. Is their devotion to Tesla because the company holds the future of energy or because they are paper rich? In other words, if tomorrow Tsla was to drop by 50%, would they still hold or dump and woulda-coulda-shoulda for the rest of their lives...
Hindsight bias is the most glaring show of inexperience I can think of. While I'm a big Tesla believer and did well this year trading Tsla, I'm fed up with these 2 bits YouTube now millionaire traders enlightening their followers with their deep knowledge of the market and Tesla in particular.
I would love to know 1. Have they sold and actually made money, 2. What other stock(s) have they successfully traded and 3. Is their devotion to Tesla because the company holds the future of energy or because they are paper rich? In other words, if tomorrow Tsla was to drop by 50%, would they still hold or dump and woulda-coulda-shoulda for the rest of their lives...
Tesla would still be sitting in the single digits and maybe even bankrupt today if it were not for the EV tax credits and a fed chairman bernanke, yellen and powell providing unlimited trillions to prop up entire markets worldwide the last 15 years..
More than 90% of Tesla gains are only because of the fed. Remember that.
More than 90% of Tesla gains are only because of the fed. Remember that.