Newspapers are evil. Ten years ago I decided, every time I want to read, I’d read a book instead of a newspaper. Not to be snobbish. But newspapers are just full of…
Newspapers are evil. Ten years ago I decided, every time I want to read, I’d read a book instead of a newspaper. Not to be snobbish. But newspapers are just full of sh*t. I know. I wrote for five of them. People say to me, “That’s stupid. How do you get informed?” What? I’m a […]
It was 2:32 p.m. May 6, 2010. $1 trillion dollars disappeared within minutes. I couldn’t believe it. I was looking at the market. I was looking at my bank account. I thought…
It was 2:32 p.m. May 6, 2010. $1 trillion dollars disappeared within minutes. I couldn’t believe it. I was looking at the market. I was looking at my bank account. I thought I was having a heart attack. What. The H***. Is Happening? I called someone and I think I started to cry. Years later, […]
I hate to think. And I hate emotions. I used to think I was smart. I’d make a trade and it would immediately go against me and I’d be miserable. I’d sit…
I hate to think. And I hate emotions. I used to think I was smart. I’d make a trade and it would immediately go against me and I’d be miserable. I’d sit and look at the screen and feel the blood pumping all through my body. “Take a break,” another trader told me. I would […]
Our brains are messed up. Daniel Kahneman, the Nobel Prize winning economist, calls the ways we are messed up “cognitive biases.” Our cognitive biases make us sell stocks whenever everyone else is…
Our brains are messed up. Daniel Kahneman, the Nobel Prize winning economist, calls the ways we are messed up “cognitive biases.” Our cognitive biases make us sell stocks whenever everyone else is selling. Cause us to buy stocks when everyone else is buying. This is called “herd behavior.” Another cognitive bias is called “loss aversion.” […]
I was scared and I needed to make a lot of money. This is what happened. It was a beautiful day. No clouds. A deep blue morning. The best day. The stock market looked like…
I was scared and I needed to make a lot of money. This is what happened. It was a beautiful day. No clouds. A deep blue morning. The best day. The stock market looked like it was going to open higher. I ate breakfast at the Dean & Deluca on the bottom floor of the World Trade Center. […]
In August of 2017, when Bitcoin was at $3,500, I went on CNBC and said Bitcoin would be worth $1 million. Then I spent about $60 million on ads. (Note: I don’t…
In August of 2017, when Bitcoin was at $3,500, I went on CNBC and said Bitcoin would be worth $1 million. Then I spent about $60 million on ads. (Note: I don’t know the exact number. This is a total guess.) Bitcoin today is at $11,000. It’s not at $1 million. Not yet (see below). […]
The worst decision I ever made was buying a home. Or two. Not only that, but for reasons I describe below, real estate is going down. When I ask people why they…
The worst decision I ever made was buying a home. Or two. Not only that, but for reasons I describe below, real estate is going down. When I ask people why they buy a home they give me several reasons: A) It’s a great investment. In the long run it will be your retirement savings. […]
