Jan

14

Manipulation, from Humbert X.

January 14, 2026 |

The allegation of “manipulation” is inevitably just code for “I just badly hosed a trade that seemed so good on paper.” Whereas the proper response to a bad trade is introspection and examination of one’s system. In the markets as elsewhere, there can be a general tendency towards the rejection of personal responsibility. This regularly surfaces in the “manipulation” allegation.

William Huggins responds:

not an opinion on anyone's trading but there is a "fun" bit of psych referred to as the fundamental attribution error in which my successes are the result of hard work and skill while the success of others boils down to luck. similarly, when things go wrong for me, its bad luck (or nefarious forces, "them") but when things go wrong for others, its their bad choices or immorality. pretty much every single person falls into this trap unless they spend a great deal of effort fighting back against the heroic narrative.

Humbert X. comments:

I find it does me little good to think about others, other than to identify when they are travelling in a herd and at an extreme level of emotion, for contrarian purposes. Though sometimes it is possible to learn from their successes and failures assuming they are being transparent about what went right or wrong, which is rare.

Nils Poertner writes:

Good to read Hannah Arendt on this note (free floating anxiety within any society have to go somewhere and sinister groups will use it for their advantage - if not a virus, then some other "Country-" Phobia, then climate change etc… So it would not be enough to change politicians , the anxiety is within the masses (and mostly unconscious).

The key for a speculator is to travel light in life and take things with a bit of distance (2 inches are often enough) - and focus on the process of making money!


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