That is actually the worst. If one is right most of the time, he can be followed. If one is wrong most of the time he can be faded. But an inconsistent guy can not be followed nor faded, thus his opinion is worthless. Try a coinflip, you get exactly the same result. But as you said, he is funny...
you just described the stock market perfectly. there are only two consistent traders on wall street: God and Satan. they're both always right and they both always make a profit.
Whoa . . . whoa there Nelly! Time to take a deep breathe, Sir. First off, what kind of coin has he made? He has a Stanford MBA from 1997, and allegedly ran a "successful" hedge fund (Buckshot Capital ) from 1999-2004. He says that he closed his hedge-fund because: ". . . (It all) boils down to my strongly felt view that the traditional structure of a hedge fund at this point represents a bad deal for both the fund managers and their partners. The funds are increasingly unlikely to generate outsized returns, fees will come under pressure and the standard of "sticky money" will become any partner who doesn't switch funds after a manager has a bad week. In other words, hedge funds are transmogrifying into mutual funds in all the worst ways." Then he goes on to say: "I started a hedge fund with the simple belief that the best way to manage money is to have someone trustworthy working full-time to protect and grow that money as aggressively as possible without taking on excessive risk. While I still believe that, the changes in the marketplace over the last five years have dramatically reduced the time I can actually spend trading, doing research and investing. In their place have come administrative time sucks (explaining Black-Scholes to a first year accounting worker, for instance) and a losing marketing war against much larger concerns." ----------------------------------- Interesting. He couldn't have figured out the above "points" before he got into business? And then he says that he got too bogged-down with "administrative" tasks? Hire someone that knows what they're doing for Christs' sake!!! Sounds like he ran a very CHEAP shop to me, which actually is rather typical of the small hedge-fund guy that hasn't been around awhile and isn't able to command the typical 2% in management fees. His quote above sounds like BS (excuses) to me. If you are managing money and performing well, you don't close down citing "not enough time to trade or do research because of administrative tasks". Get real.
you don't know what mack's made any more than he cares who the fuck you are. i know i don't. some of us in this world learn by trial and error, whereas others who are blessed with rich parents, trust funds, ivy league educations, who get out of jail free cards just slide through life without a fucking scar to show for it, and think that gives them the right to criticize out of some deluded sense of entitlement. i'll take the scars, thanks. fuck stanford.
I was a floor trader in #4 World Trade Center for 10 years and have the "scars" to prove it, thank you. Macke is yet another Fast Money imposter right up there with Joe Terranova. The guy has been on the CNBC executive's "radar" for the past several months after an on-air tiff with Dylan Ratigan caused Macke to send a drunk e-mail later that night, joking that he was going to "break" D-Rats' legs . . . which DR proceeded to report to HR. End of Story.
It would never happen. I'm not used to the brown-nosing that someone like yourself is comfortable with. Does Macke give you a "reach-around" too as he bends you over whispering sweet nothings in your ear?
yeah, i could see DR being a rat. he's pretty good at it, isn't he? i'd have mack's back on that one.
Why you actually care is downright scary. For someone that claims that they started their own money management firm, you sure do have an awful lot of time to spend arguing on ET with people you'll never meet. Good Luck to you.
Did anyone see the beginning of that show. It seems Macke is rambling about an interview with the automakers. Maybe they said something that warrants his weirdness.