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Lucky Charms on Wall Street
As the slide starts and the stock markets open in the red on the 1st August , it’s now time to take into consideration what it is that will save you on the floor from losing the house, the wife and the kids because you didn’t know how to deal with the stock crash that’s on its way. Of course, study, research and believe that it’s a rocket science but we all know that it’s not. Create algorithms and use fancy computer programs, even pay someone to do the dirty investing for you. But, when it boils down to it, it’s lady luck that will make you a winner or a looser. And, I’m not the only one that thinks so. There are a good many people in the past that have used anything and everything they could lay their hands on to bring them luck in the financial world. Here are just a few of them.
The superstitious Wall Street guys
You wouldn’t have thought it in the digital age but there are some that are playing with the money of the rest of us on the stock markets using lucky charms and superstitious beliefs. Isn’t this supposed to be 2014?
There was the trader Frank ‘Tony’ Ciluffo at Steinhardt, Fine, Berkowitz that what he had for lunch had an impact on the stock market. That’s enough to give you indigestion alone, isn’t it? He had two toasted English muffins with jam for an entire year because the first day he had them he made a killing. He carried on eating them day in and day out until he’s luck bottomed out and he had to change to cream-cheese-and-olive sandwiches. Any nutritionist would be reeling by now, but investors think it’s probably good in that quirky retro way.
Apparently, you should never sell while your stock is going over $90. There’s the common belief that if it hits $90, it will hit $100 before dropping, so you might as well stick it out and make a few more dollars for the champagne parties. There’s nothing to prove it whatsoever. But, if they are all doing it, they are all increasing the stock artificially, anyway.
There are those that force their traders to take female hormones because women make better decisions that are less violent which means less viable to risk (2007, Andrew Tong that filed a lawsuit against his boss Ping Jiang). But, there are also the traders that down the testosterone boosters after they hit 30 so they can keep up with the wolves that are just entering the pack. It reduces sluggish decisions and increases stamina and nerve.
At Murray & Co there’s a trader that things that the tidier the desk he has, the more money he will make. Oh, and he never uses a red pep either, because that’ll bring bad luck and look like loss. In the real world that would be a compulsive obsession disorder, wouldn’t it? Don’t you get put under a doctor for that? But in the world of investment, it’s the norm. The mad hatters are on the inside in this story, running down a hole to catch the money at the bottom of the pit.
Then there’s the superstitious bathroom stall at the Chicago Mercantile Exchange that nobody wants to use because it leads to the trader losing money. What more can you say?
It has been proven by research that when there is an environment of risk, a perceived lack of control and high stakes that are in the bidding, then people resort to superstition. Superstition-induced behavior is and has always been part and parcel of the investors on Wall Street. There was even that Superstitious Fund started in 2012 by Shing Tat Chung. The idea was to get investors to put money into a portfolio that was completely generated and managed by a computer program that took into consideration only things that were related to superstitions. That means that the robot steered clear of Friday 13th and anything that had the number 13 in t, for example. Or, it bought when the new moon started but when it was full-moon time it stopped everything. 144 people invested £4828.88 and it traded on the FTSE100 for a year. Before you run out to buy the rabbit’s foot, remember that the Superstitious Fund closed down over 16%. There might be weirdoes out there with their quirks that always tie their shoe left shoelace before the right one and then think they are going to get the dollars pouring in, but remember, they are only better off until they start losing.
Isn’t that how banks went bankrupt, believing that they would never lose any money because they were on to a winner?
Everyone wants to be a smart trader these days.
The next Friday 13th is now February 13th 2015, so you have some time to buy those shares still.
Originally Posted: Lucky Charms on Wall Street
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We start with your money and our experience and when we are done, it will be our money and your experience. ha ha happy Friday...
Is it just me, or is the spelling error rate increasing... it's almost like kids nowadays relay on their spell checkers too much!
Yes, that was purposful.
Nage
Yu need to lern how to spel. It is porpoiseful.
doll fin full is more politically correct.
If it is not in your pocket, it will soon belong to someone else.
Losing? I don't lose. That's not what I do. I'm up $10,000 today on my Dec. S&P500 shorts; and holding for more. Losing. Ha-ha; what an idea.
Just as soon as you say you don't loose? Yellan at your door
most people dont think about how the stock market affects their lives, but it does. first of all your mortgage could go underwater in a hurry if housing asset prices fall, and they will. and with interest rates rising a refi is out of the question. a lot of people will get laid off, wage increases will stop. you could convert your home into a boarding house, as people wander from town to town looking for work, a place where the wages are level with the cost of living. or you could rent your home out even if the rent doesn't meet the mortgage, while you rent an apartment for less money or move in with other relatives. at least it squares the account and you dont get foreclosed. the lines to get section 8 and ebt will be long, and suddenly the rules get tougher, no more call in applications. the lowest income jobs will get hid hard sooner, which is food service, retail clerks. in first great depression the restaurant industry flourished (people didnt have homes they traveled so they went to those quaint diners) but now the sector is overbuilt and dependent on corporate suppliers, now suddenly the deliveries arent coming, the product isnt fresh, if you run one of these franchise places it will get tough. food trucks are the new diner. buy one live in it. sell your car and buy an older model, you wont be driving as much. get a nice big one, one that can haul everybody around, and one you can sleep in, if only for a few days. dont expect much from the kindness of strangers, stay with the people you know, until that source is exhausted or everyone moves on. a stranger in a strange town is viewed with suspicion. the big cities are prepared to stack people like cord wood, the number of people handling stolen property will skyrocket, its the easiest crime in the world to get caught up in. you simply look the other way for a moment, put your morals on hold, and you have the cops knocking on your door, for buying stolen property. property bought on a cc is sometimes revolving credit, dont make the mistake of trying to sell that property to pay off your bill. they own it. be sure you understand those rules. the banks are already to bail your savings account IN. make sure you keep some activity, and make sure your bank is solid. if interest rates go higher and nobody is borrowing money the banks will fall into the S&L trap, paying out interest to depositors but making no money off loans. if yoru bank looks too good to be true, they pay the highest interest and they are tough to get a loan, there may be trouble.
the next depression may never end, the first didnt really, it was just interrupted by w2, then recharged by a few wars and the cold war along the way. it will be groundhog day, the movie, a cold gray day for the rest of your life, (i forget who said that) it will require a complete readjustment of our values and our perceptions. it wont happen quickly or easily. no rabbits foot will help us now
That is absolutely depressing to read. How about tell your family no you cant buy that now. Accumulate your assets and be safe with it, stock up on groceries. And be responsible. This advise You are getting is from a 46 year old that didn't have it when 2008 cam knocking and my wife had cancer no insurance and i never said no. Never again I say. I feel lucky that I went through it then so had time to prepare for whats coming its gonna be bad.So I say wake up if your asleep and if your the man in the house be a man and if your a woman stand by your man and make him feel like he is.If your a kid in the basement get the fuck out and make it on your own like we did.grow up
What was the middle part?