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There are a couple of types of trading which appear to generate ungodly sums of profits (at least judging from the advertisements) – – FOREX and options trading. My personal experience with both of those has been bad enough to swear off them both years ago. Indeed, pretty much all options traders get their body parts handed to them in short order.
Some folks, however, fare better, and our own Baywolf shared this success story with the group:
This is going to be very much a “First World Problem” kind of post, but here it goes.
Lately, I’ve noticed a problem here in town that I also noticed in 1999/2000 and 2007. Specifically, the lack of qualified, motivated, or otherwise capable people in all manner of service occupations.
The cashiers at Whole Foods are getting increasingly sullen. The clerks at shops don’t seem to like what they’re doing. The high-tech workers are cranky and reek of entitlement. Downtown is littered with Help Wanted signs, but all the warm bodies are already at work.
This plays out even at high-end restaurants. The world-famous Nobu sushi restaurant opened in Palo Alto just a few weeks ago, but to the excitement of the citizens here. It joins other spiffy cities around the world as having a Nobu.
At the end of last year, I decided to make an experiment for myself. I established a portfolio at Merrill Lynch with which I intended to break with my normal style and (1) only have a handful of positions at a time (2) trade strictly ETFs. The portfolio has still had the bearish bias that pulses through my veins, although with gold and oil ETFs, it isn’t quite at the mercy of Yellen to the degree that my normal portfolio is.
I started my experiment with a $195,000 account, I started off very cautiously, making a couple hundred dollars here, a couple hundred dollars there. As 2017 moved forward, I was able to relatively steadily get the account up to around a 10% gain, something close to $215,000.
OK, this has nothing to do with trading, but it’s one of my favorite videos ever – – the insanely talented Bay Area group Jellyfish……..play it in the background while you trade!
