If you remember when I bought some Corning you have a long memory - when was that, 1999 - 2000 - 2001? As for "losing my ass" - not exactly, a hundred or so on that particular stock.
Back then I did try my hand at trading, as a hobby, not for a living, and wasn't any good at it, that's true. So, can I "beat the market"? No.
Can anybody else "beat the market" better than chance over the long run, by trading? I have no idea, personally, but random walk theory says no, in general. Nevertheless, there appear to be people who are able to use superior skills in order to hedge and arbitrage and come out ahead more than average. Doesn't matter, I am not one. If you are one, how nice for you.
My "brilliant point of view" isn't about trading stocks, it's about what causes Great Depressions. I very accurately predicted that we would not have one.
A lot of people took the other side of that bet, but only Pearlie Gates had the integrity to pay up. Everybody else - and that includes some pretty big names - conveniently forgot about that bet. Or maybe they're still hoping against hope that the Great Depression will still appear. ;^) |
