Twas the best of times it was the worst of times

It is amazing how many times these days when I let people know what I do for a living I get a pained look of sympathy, as if the beloved family pet had just fallen victim to the tires of a front end loader. When in fact now, right here in this moment in time is one of the absolute best for an adviser with the fortitude to have an opinion, and make investment decisions, to be in the business in my 15 year tenure. I sometimes explain it crudely that if one runs a muffler shop and ALL the mufflers in the country suddenly crapped out, you would be printing money replacing mufflers. Today we find ourselves perhaps half way through(there I go again with an opinion) the second market meltdown in 7 years, where property values fell right along with financial assets, and people are crying out for real advice and leadership. I feel that 99.9% of the financial advice machine are useless posers, at best gathering assets to feed a decrepit and collapsing system, with little concern for clients and even less knowledge of how to actually advise and make money. At worse, well they are.......worse.

I am convinced that we are in an era where allowing mindless asset gatherers to hurl your future at some cookie cutter product under the guise of Modern Portfolio Theory, is the road to sure ruin. What will be successful is actually advising. Buying equities when others are crying and selling when others are joyous. There will be times when one wants to own gold, and heresy
I know, but sell or actually short gold. Bull and bear markets will present themselves in commodities and currencuies and fixed income and foreign stocks, and for those who remember they have a pair, and can catch a piece of any of the moves, you have the world on a string. For too long as a nation we confused brains with a bull market, and it has come home to roost.
As I find myself competing against a pack of phonies in suspenders and multi colored shirts, I could not be happier to be in this business. Dont cry for me. So here is to us and those just like us, damn few left!

My friday morning cocktail napkin analysis of the market action, which I posted before the open, proved to be shockingly prescient. As I mentioned, quad witch days are best sat out, which is what I did. Our date with 875 on the ES will come sooner rather than later I feel, time to lead advise, and make money. Good Trading