I suspect some of you here have had a lousy 2023 so far. Obviously I’m referring to the equity bears, which I tend to attract. Most folks in my position have a habit of bloviating about the good news in their life and hiding the bad, but I’m a bit of a freak in that I reveal the bad stuff too.
I’d like to share with you how, a mere two weeks into the trading year, things has already been going badly for me. This is a gift to at least two sets of people (a) those whose year has sucked so far and will feel less alone (b) anyone who dislikes me and gets off on suffering in my own life. Thus:
- I’m down in the low double-digits (percentage) so far;
- Of my 18 positions, two, count ’em, two, are showing a profit.
- It’s completely plausible that 2023 is a big “up” year, which will make things worse.
But, I’ve got to say, 2022 started off a lot like this for me too (and, in the end, wound up as a +115% winner). Indeed, I was very tempted to just say “screw it” and go 100% long in January 2023. Let’s just say I’m glad I didn’t. It would have been a fiasco.
But over precisely the past three months (from October 13 to January 13), the market has been smashing the bears in the face. If you want evidence, look no farther than the UVXY since then. It’s eye-popping how consistent this thing has been:
In any event, I haven’t lost faith in the bear market, or in myself, but I felt compelled to open up to you and say that, if you’re hurting, you’re not alone. I have every intention of making 2023 a good year, in spite of this miserable commencement. Hang in there, my friend.
