In the Absence of Insight

Claiming to be a trader is like claiming to be an artist; you might as well claim to be an astronaut.

The difference is, that unless you’ve been in space it’s nearly impossible to support that 3rd claim. As for being a trader well there are all kinds of traders, even my grandmother might stake that claim. She’s also an artist…

Knowing that the markets are a rigged game (for retail traders), is like knowing as an artist that the gallery scene is a rigged game. If you get in, you’re good, if not well… The expectation that there will be successful disruptive outsiders makes for a romantic story. Think Banksy.

When I see that JP Morgan had ZERO trading losses during the first quarter and then ZERO trading losses during the first half, it’s time to reflect on why we play this game. I’m sure the story is more complicated, maybe only partially true, but still, JP, if I could take this moment…

Day 6/365