Trading the Trend (Collection)

Snow Job

The illiterate of the 21st century willnot be those who cannot read and write,but those who cannot learn, unlearn,and relearn.¹

After a presentation at the Traders Expo in Las Vegas, an investor approached me. He wanted to explain his belief that he could trade for profit based on his gut feel, using his intuition as his sole decision-making criteria. I immediately envisioned him sitting in his big easy chair staring into space deciding how his tummy felt. He mentioned a recent book that touted his belief, but otherwise he had no objective proof.

I said, “Please provide one legitimate performance record based on your type of decision-making? Just one will do.” Spoiler alert: There is not one.

That does not stop the prophets though. Consider ...