Quote of the Day

| September 10, 2018
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When asked about all of the reports recollecting what happened in the MIDDLE of the Global Financial Crisis, Keith McCullough of Hedgeye Risk Management has this to say:

“I think it’s a great time in Macro to be a young person who is just starting. Because you don’t have to deal with having all that baggage that people have screwed up in Macro for the last two stock market crashes — of which they’re all backslapping themselves on it for solving ten years ago today. It’s a complete joke.

They didn’t warn you of any of it.

If anything, Warren Buffett in October of 2008 with CNBC backslapping the crap out of him saying “Hey this is the spot! This is the spot! This is the big bazooka spot, this is where you got to buy ’em. Buy ’em with both hands. If you bought them with both hands in October of 2008, you lost all your fingers.

Why did Keith say this?

Because from September 15th, 2008 to March 9, 2009, the S&P 500 lost 46% of its value!

I know but if you held on you made it all back. Yes this is true, but what I continue to harp on is human beings are emotional creatures and we are not wired like Warren Buffett so a majority of people sold out of stocks or significantly modified their “risk tolerane” at the wrong time.

Have a process, test it and stick to it!


Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O


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