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marty_lewis

02/26/02 12:22 PM

#11418 RE: Poet #11415

IMO-The houses don't do that well (or as well as they would have people believe) over the long term. They do the averages. In any given year one house does better than another, but in the long run they all do the same.

At any rate, trading (as a general statement) it's a fools game for the individual, because the individual doesn't have the pockets that houses do, nor do they have access to information that the houses do or even access to the markets like the houses.
The houses make markets in stocks, the individual doesn't.
The game is stacked heavily against the individual in trading. It's a David vs. Goliath arena, except in this one David rarely wins, unless he ignores the short term and focuses on the long term.


Don't confuse the micro (maybe yourself) with the macro (the public at large). You may be better skilled than most, but......
There will always be one warren buffet for every 1,000,000 (or more)"Wrong Way Corrigans". You might be that WB, but the other 1,000,000 people will be the WWC and they'll lose all their money trying to grasp the golden ring.


This is just my thoughts about it all, and take it for what it's worth. It's not a personal thing against you, as I said I was originally just curious about why you would short the market now. IMO the perfect storm is on the horizon against shorters, but they are refusing to see it, just like the longs turned a blind eye to the bubble.
I don't wish you bad, I hope you make money, but I think that you're playing with fire now, much more so than 12 months ago.


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Phil(Hot Rod Chevy)

02/26/02 9:46 PM

#11428 RE: Poet #11415

Poet,

The commercial houses trade for a living and do very well, so it is hardly a fool's game.

There is a variable here.

The commercial houses have a sell side analyst telling you to buy, while all the while they are selling into the buying.

IMHO, analysts are whores to their employers.

Don't believe them and dont trust them.

Trade against them.

Have fun,
Phil