Mar

7

As I look at a chart, and wonder the next move in the great spectacle of global markets, an old prop trading colleague's response comes to mind.

In his words: "I asked my five year old daughter, 'where do you think this is going,' as I held up a chart which had a reasonable bias from lower left to upper right on the page. Then came the response 'don't be silly, Daddy, it's going up!'"

As I look to fade markets — which for some reason feels like a natural instinct to me, maybe due to the usually more volatile response of these pullbacks, this memory has saved me lots of hard currency.

There's a lot to be said for the uncomplicated power of youth.


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