Tuesday, December 05, 2006
Today's trading was superb, as all sectors melted up in an orderly fashion. The sellers are now in a very difficult position and may be forced to cover their shorts, in order to save some money for Christmas presents.
As for me:
I have been going nowhere fast lately, up 21% ytd. I haven't done dick in about 4 months and feel exhausted from trading all year. I haven't gone on a real vacation in years and I am starting to feel fucking fried-- staring at my damn monitor all.the.time.
I made a lot of money this year, but it never feels like enough. In the big fish tank called Wall Street, I am the equivalent of the small fish who tags along the sharks for food. Basically, not a shark, yet.
-not trying to insult anyone here, stock likely will go higher from here, but come on...sugar high?
I am married with children. So, the saliboat thing with rum and blondes, although it sounds great, definitely not happening.
As for Monster Energy drinks and others:
Where I come from we mix it with Vodka. However, I must say, I drink Sobe No Fear Gold, in order to stay wired.
Better than coffee.
Ive been reading your blog for about 8 months now (before Cramer's goon squad made you take down his postings), and have wondered what how you got into the business and what your educational background is. I just graduated from college with an engineering degree and was wondering how you came into managing money.
My educational backround is college no masters. I did not have the time-- since I had a baby on the way.
I had been interested in stocks since I was 10 years old and had interned at various mutual funds-- in the early 90's.
I started out at a small brokerage firm and built a book of business, old school, via "cold calling" and referrals.
From there, I built upon some relationships and had a niche that made getting clients easy.
Bottom line: It was hard work and still is. If I had to do it over again, I would get a CFA and try to start at a hedge fund or mutual fund.
The retail side of the business is for the birds.
Thanks for your humor and honesty. I enjoy reading your blog and appreciate you sharing your knowledge and expertise and especially your humor. Without a sense of humor we are doomed to the mundane. You should take a vacation with your family. Even if it's just a few days to some warm weather climate. Leave the computer home and refresh your body and mind. It's so important to refresh and recharge. Especially in this super stressful profession. Your mind will be clearer and you will have more energy when you come back. Too much staring at the screen can drive one nuts. I do that too much too. All the money in the world will not cure you from stress induced or any illness for that matter. The market will be there when you return. Your family would love it too I'd bet.
Trade up and take a vacation dude :)
ps: what is up with the homebuilders? How about NVR?
Also, do you think the exchanges can actually continue to run...other than NDAQ. Like CME, ICE, NYX...?
Secondly question: Is being an analyst hard? Seems about as hard as researching any ol' stock, which is what I do anyways.
I hope that's not a slap in the face to someone's life work. My interest in stocks (I'm 21, but its been years) plus financial acct. background makes that shit just too easy. Doesn't mean I pick the best companies or trade the best.
It just appears to me most of what these guys get paid 6 figures to do probably just involves an excel spreadsheet they plug numbers into (heh)! My friends who are finance majors don't understand the statements or the relationships in them nearly as well as my accounting friends. Anyways, I was wondering if I was way off on that, or what your thoughts were. What does being an analyst entail on a day to day basis?
Have a nice x-mas vacation, that's the break I'm waiting for.
Not too shabby.
I have no fucking idea what it takes to be a pencil pushing analyst-- since I am not one. However, I know it entails getting a CFA and being a piker for many years, prior to swinging a big dick around Wall St.
Do what you love. The money will come later.
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