Your Almost Daily Bit of Wall Street Wit & Wisdom

procrastination cartoon

Cartoon by Ellis Rosen, @Ellis Rosen

“It never rains on Rosh Hashanah.”

— Paul Sarnoff

I remember one year, walking to shul with my dad, we got soaked!

Rosh Hashanah begins Sunday evening, marking the start of Jewish year 5780.  The High Holy Days, from Rosh Hashanah to Yom Kippur, are known as The Days of Awe and begin 10 days of reflection, introspection, and repentance.

We wish all who celebrate a very Happy, Healthy, and Sweet New Year!

Best regards,

Steve

 

Your Almost Daily Bit of Wall Street Wit & Wisdom

Bell Rock

Bell Rock, Sedona, AZ

“They don’t ring a bell at the top.”
— Stock market adage

They don’t blow a whistle there, either.

Best regards,

Steve

PS We’re back from a great trip to Sedona, celebrating my newly septuagenarian brother’s birthday especial.  Pictures don’t do that place justice.  If you’ve never been to Sedona, put it on your list.

Your Almost Daily Bit of Wall Street Wit & Wisdom

“I’ve always felt ideas were a dime a dozen.  If you had one that didn’t work out, you should not fight too hard to save it, just go find another.”
— Daniel Kahneman

That can be applied to trading.  Examine your decision-making process.

As a general rule, never add to a losing position.  Hone your money management survival skills, so that inevitable losing trades don’t knock you out.  You want to be there to reap the benefits of your big winners.

After all, there’s always opportunity in options.

Best regards,

Steve

PS Check out Michael Lewis’ The Undoing Project, about groundbreaking psychologists Kahneman and Tversky.

Your Almost Daily Bit of Wall Street Wit & Wisdom

operation repo

Operation Repo h/t IMDB, EGA Productions

“All the oil experts from the weekend are now repo rate experts.”
— Hipster, @Hipster_Trader

The repo news isn’t about automobiles. It’s about the beleaguered US Federal Reserve and their large overnight liquidity injections into the financial system.

We wish them Godspeed and good luck, as they try to thread the needle while pushing on a string.

Best regards,

Steve