Jan

17

Sometimes you hit the wrong shot in a game and it goes in. That leaves your opponent completely demoralized and usually is good for a win. The people who thought that Hillary would win were wrong, but they bought stocks and sold bonds [as the election approached]. They made a fortune for the wrong reason. How often does this happen in markets and can it be quantified. Morgan Stanley made billions in their bond trading presumably through this error.


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2 Comments so far

  1. Jay Bower on January 17, 2017 5:52 pm

    It’s true… until it isn’t.

  2. Yucheng Pan on January 24, 2017 9:15 pm

    I tasted the demoralization by being the opposite: I made the correct election prediction and “correct” preparation (selling out long positions and buying puts) but lost. You lose because you are right: how demoralizing!

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