Heard this quoted over and over again. Still don't know what it actually means. Could be, "whatever you read into it"... in other words.. this famous quote is nothing but BULLSHIT!
Ha ha. Glad you like it. I'm not a huge fan of Seykota but I see truth in it based on my personal experience. To each his own though.
Well it is crazy out there...but equities are oversold short-term....and 12k on the Dow continues to hold. The market is testing for a hold or break here.... one is bullish, the other is bearish.
I experienced this first hand in a former life when I was series 3 phone slap in the 80's. Had a client who called up outta the blue to open an account. He had just inherited money from his deceased mothers estate. He funded the account for 300K then proceeded to make all kinds of nutty trades.... Live Cattle against Swissy spreads ...sell Aluminum...spreads between copper and the 10yr ...just crazy stuff. Would never listen to any advice. Wanted to buy sell buy sell....that's it. After about 6 months the account was at basically zero. I called him and told sorry but no more trades..he's says why? I say the account's emtpy. He says ..."Good ....I hated that bitch anyway!" For that guy...he got exactly what he wanted from the market.