The Importance of Diversification
You may or may not know that during the Great Depression, the stock market went down 89%. If you had a $200,000 portfolio, that leaves you with $22,000. Catastrophic. Not to say that will happen again, but… it might.
I Am Worried About the Stock Market
Now… I am worried about the stock market. When I was in NYC, I was in the office of one of my hedge fund subscribers, and he comes in and says, “Doesn’t it feel as though something really bad is going to happen?
Adult Swim
I famously wrote in a Substack essay that I don’t vote. You can google it if you want; I’m not going to link to it because it has salty language.
The Best of Times, the Worst of Times
Trading is funny—sometimes things are going really well, and sometimes things are going very poorly.
Something Important Just Happened
A couple of weeks ago, I wrote about how I thought the bottom in commodities was near. I think it happened.
If the Music’s Still Playing, You Have to Keep Dancing
Private equity firms do private equity. If they run out of good opportunities, it’s not like they're going to switch to, say, commodities trading.