Hi Steve,
Pressed that button now didn't I? Remember my first post on this thread, the one that sang the paeans of the daytrader's contribution to society. You liked that one Steve. Why didn't you like the last one? Are you feeling guilty? Defensive? By reacting emotionally you failed to appreciate the lesson that I was trying to instill. You see, there are "day" trades that are not based on the ebb and flow of normal market conditions, but rather are opportunities that are available to the alert, well informed trader who can see an arbitrage
(a simple French term for risk) when panic sets in with the main market. Capitalizing on the emotions of others has been a successful policy with the Hollywood moguls for decades, and it's beginning to work for me too.
In my prior posting, I made no judgemental statements about Mr. Buffett. I merely stated the facts of his bond purchase. You see, emotions have no place in the stratagems and manouevers of the wily trader. I read it here, on this thread.
However, I will agree with you that Mr. Buffett has some downright creepy notions about what wealth is for. Is he shallow. Probably. Is he a bad dad? Unfortunately some of his kids think so, and I believe they are the final arbiters. Is he too much of a miser? Certainly.
Steve I don't know you very well, but from what I had read of your commentary and technical understanding you are not the shallow insipid Nintendo graduate that I was hoping to enlighten. You've already realized there's more to this stock market game than reacting to the last twitch of the last nitwit trader. The USA article that someone posted on the thread earlier today truly showed the dark side of day trading. A woman who is both a compulsive gambler and an intellectual featherweight. Gosh, I think I'll go back and reread that article, there's got to be an easy way to knick her for a few 1/8s, eh?
Investment Lesson for this Evening:
To All, (except Steve, who already has this figured out), if you enter a poker game and you can't identify the patsy by the third hand, _______________________________________ - Fill in the blank, bonus points for a good rhyme.
Ciao, Ry |
