You Can't Beat the Pros at Their Game
In addition to the sports explosion around my house this weekend, I had the chance on Saturday to spend a few hours at a gathering of business and professional folks at a networking event. My wife had a table at the event, so I tagged along to see what I could learn and who I could meet. One small group gathered around the coffee table talking about markets, and I wandered over and joined. Any time I join one of these conversations, I listen and grunt a lot without offering too much commentary. I view it as a learning experience -- and what I learned this week is all too consistent with what I have taken away from similar gatherings.
This was a group of business owners and professionals, not full-time investors or traders. They are not in front of the screen with sophisticated tools to evaluate short-term market moves. One gentleman was bragging that he "figured out" that billionaire investor David Einhorn was not going to talk about Herbalife (HLF) at last week's Value Investing Congress, and that he had made a few hundred bucks by buying the stock and flipping it later in the week. Another bemoaned the fact that he thought the employment report would be really weak, and bought a double-inverse ETF and lost several hundred Friday....592 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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