The tradition of Festivus begins with the airing of grievances. I got a lot of problems with you people!
- You!… Mainstream Media; you have always been a trend following purveyor and amplifier of spectacles, but in 2016 you consistently chased mature trends, financially imperiling anyone dumb enough to believe anything other than maybe 5% of what you write or blab about on TV. You herded ’em bearish into the buy zone early in the year, and kept it up into Brexit and the Trump election. Now you’re on a new trend going the other way. You have disappointed me in many ways over the years, but in 2016 you took the cake!
- You!… Wall Street Analyst Community; you have disappointed me in many ways since, well, forever. In discovering and hyping 3D Printing about a decade too late, Robotics about 5 years too late and now, Semiconductor Equipment about 6 months too late (on this cycle), while 99% of you have never dirtied your expensive shoes or soiled your Armani suits with coolant vapors on a manufacturing shop floor, you are behind the curve as usual. Many of you know how to write a professional sounding pitch though, I’ll give you that.
- You!… Day Trader, Crackhead, Momo-Fueled Casino Patrons; you have disappointed me in many ways because you are in it for the rush, the thrill of it all… the making of “coin”. Well actually, sometimes as I plod along in a boring, steady way taking pain inflicted by the market I wish I were you. But that’s beside the point. You dear substance abuser, could use an immersion at the Mises institute, a forced sit-in, front row of a Roubini or Krugman lecture or even a simple Econ 101 class. Some kind of grounding in something. I hate you for your carefree attitude. Okay, this is more a commentary on me, not you. Half of you are Quant machines and Black Boxes, anyway.
- You!… TA-Lingo Spewing Chart Jockeys; enough with the hocus pocus about trend lines, death and golden crosses, bull and bear wedges and friggin’ Andrews Forks. Actually, keep on using that stuff, and especially the other more valuable tools in TA. They have a place. But for cryin’ out loud, can you please stop writing and talking as if your stupid lines and squiggles hold definitive answers? They don’t! Okay, Louise? There are less experienced people participating in the markets and they actually think you are doing something other than making educated guesses… and then revising them constantly, later.
- Finally, You!… Gold Bug “Community”; your refusal to conduct yourself as if there is not another 98% of the markets out there, obsessing endlessly on gold and silver just makes you look sad. I am talking about you, “gold analyst” and you, “gold trader”. An investor or trader goes where the market instructs; a fool sits in one asset class often immersed in ignominy trying to manipulate emotions and make it sound compelling all the time. Sometimes it’s just an ‘avoid’.
BTW, NFTRH 427 was sent out to subscribers yesterday.
Happy Festivus, Merry Christmas, Happy Hanukkah and happy holidays of all kinds. It’s once a year; we’ll be back at regular business soon enough.
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