Some Summer Thoughts About Markets

2020 has been a wild year. Relentless. But then again, I think we say that every year. I mean, when was the last time you actually said something like “Wow this has been a really easy and boring year.” Exactly. It rarely happens. Recency bias is still very underappreciated.

I’ve made some really good calls this year.

I’ve also made some really bad calls this year.

If you follow my live updates on Twitter, I would be curious to hear how you think my book has performed. Besides being Twitter’s most loyal bag holder, I’m trying not to share my positions openly anymore. I’ve come to realize that it’s just not smart. Why would you ever let anyone see your hand. Maybe you want brag about your gains? Or get help for your losses? I believe if you’re investing or trading on your own and you answer yes to either of those questions, you aren’t doing it for the right reasons. That won’t get you anywhere.

A phrase has stuck with me for years now:

“Pride goes before the fall.”

I’ve done some strange things with my account this year. Things I normally would never do. I’ve taken out some serious margin on a few trades and I’ve easily traded the highest volume of shares in my career. Basically everything the classroom tells you not to do. I feel like a ragged pirate you’ve come across stranded on an island with an eye patch growling “I’ve seen some things mate.”

The summer itself has been spectacular. I got a pool pass and I’ve been running way more to shed some pounds. Something tells me I’m not the only person doing this. Maybe this whole work from home thing is about to make everyone better off and healthier. Who knows.

On my mind has been small cap stocks getting rekt, the Fed buying Apple bonds like a maniac, state and local deficits, large cap tech running away with the bag, the price of silver quietly marching higher, Davey Day Trader moving stocks, and the final stages of the Coronavirus. Oh and of course the upcoming election. We have a lot to talk about once the summer comes to an end.

Anyways, I felt like writing this down on paper and sharing it. I hope you’re doing well and if you haven’t tried TradingView yet, the company I current work for, it’s time. We’ve been building some incredible tools and products for following markets. I’m open to give you a demo. Just send me a DM.

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