Mon, 28 October 2013
Wondering why your money’s all gone? Michael Covel has two fantastic examples why on today’s podcast. First, famed trend follower David Harding appearing on CNBC gives great opportunity to learn. And second, an article from the reformed broker Josh Brown. Covel goes through the Harding appearance point by point. Next, the CNBC anchors ask questions and Covel responds. Covel moves on to Josh Brown’s article about people acting like “silly little bitches” with their money. Are we in the “funny phase” of a bull market? You see the misinformation campaigns, you see people like Brown saying we’ve entered the silly season. So what does it mean for you? You need a system. You have to know what portfolio you are trading and why. You have to know you’re entry and exit strategies. How much are you going to bet? Do you want to be part of the sheeple, or are you somebody different?