Detail from my father’s stockbroker tie
“Remember, your goal is to trade well, not to trade often.”
— Alexander Elder
I concur with Dr. Elder. My father, Paul Sarnoff, was fond of saying in his Brooklynese, “Sometimes da bulls gotta get fed and sometimes da bears gotta get fed. But da brokers eat wheddah da market goes up or down.”
When I first went west, in the early-1980s, people made a big deal of my New York accent.
I shook my head, “What accent?”
One morning, after I’d been in Idaho for a while, I was on the phone with my dad and asked him about my brother Mitch being in New York City, down from his home in Rhode Island. What I heard, kinda shocked me, “He met ya muddah fer lunch at some jernt uptown.”
I was taken aback, “muddah,” “jernt,” what an accent!
I guess there’ll always be a little New Yorker in me.
For thirty years now, our approach at Options Hotline is that the only ones sure to profit from doing a lot of trades are the brokers.
Any way you say it, we strive for quality over quantity.
This week’s action should reveal some valuable information about the market’s intended primary direction.
I hope you enjoyed my little story.