Black Monday

[SailorRob]

Again just a silly comment. There are plenty of reasons why macro views can be reliably formed.
Ignoring economic outlook is what fund managers do. They're the ones that are always saying it's a time to buy. Why?
Because that's what they are paid to do.



Didn't Buffett say he doesn't understand the macro?
So why is his opinion relevant here?
He stuck to what he is good at.

He understands the Macro better than practically anyone.

Has thousands of proprietary data points coming in every day that nobody else has... From operating businesses and all kinds of other places.

But still ZERO ability to predict anything meaningful.

Hey, why don't you mosy on over to the 2023 returns thread. I didn't think we'd find you there for some reason.

[winner69]

Again just a silly comment

………..

.

No Rob was serious …..wanting to know whether the weather in 3rd week of September is a good time to sail away …..for good

[SailorRob]

Again just a silly comment. There are plenty of reasons why macro views can be reliably formed. Really? Then you should be able to supply me with a list of people who do reliably form them... Even Soros and Druk don't....

Good one....

[SailorRob]

No Rob was serious …..wanting to know whether the weather in 3rd week of September is a good time to sail away …..for good

Should be sooner than that but let's see. As long as you are still producing the goods and services for my consumption and behaving in financial markets in a way that gives me an advantage, should be sweet, cheers.

[Daytr]

• A few months after publishing the op-ed, Buffett told CNBC: “I have no idea what the stock market is going to do tomorrow or next week or next month or next year. I actually said [this] twice in the article. The editor said, ‘You’re not supposed to say things twice.’ I said, ‘I want to say this twice [because it’s so important].’

Good one....

Buffett was referring to economists & on that we can agree, most economists can't pick their nose. I used to have to correct bank economists work before it was published as quite often the foundation of their view was incorrect, I.e they didn't understand how the gold market functioned & what were the key drivers of demand & supply.

Most traders don't publish their views, they just act on them & make money off them. Be it they are paid handsomely to do so or trade their own money it doesn't matter. The fact is they wouldn't be paid handsomely unless they performed.

Traders don't actually have to get it right the majority of the time to make good money as long as they have good discipline. I.e stop out losing trades & let winning trades once. However good traders will get it right the majority of the time and make excellent returns.

[Daytr]

And what do you see the weather doing in the third week of September? Cheers.

• A few months after publishing the op-ed, Buffett told CNBC: “I have no idea what the stock market is going to do tomorrow or next week or next month or next year. I actually said [this] twice in the article. The editor said, ‘You’re not supposed to say things twice.’ I said, ‘I want to say this twice [because it’s so important].’

No Rob was serious …..wanting to know whether the weather in 3rd week of September is a good time to sail away …..for good

Well he is the one who looked out the car window & saw a traffic jam in Auckland and used that as a basis of his view that the economy was on fire.
Who would have thunk it.
A traffic jam in Auckland...

Anyway I have had enough fun today & we finally have a sunny day to enjoy.

Wishing everyone, including SailorRob, a very happy & successful 2024.
I think it's going to be an interesting year, particularly with the US election.
Hey but what year hasn't been interesting in recent times.

[SailorRob]

Buffett was referring to economists & on that we can agree, most economists can't pick their nose. I used to have to correct bank economists work before it was published as quite often the foundation of their view was incorrect, I.e they didn't understand how the gold market functioned & what were the key drivers of demand & supply.

Most traders don't publish their views, they just act on them & make money off them. Be it they are paid handsomely to do so or trade their own money it doesn't matter. The fact is they wouldn't be paid handsomely unless they performed.

Traders don't actually have to get it right the majority of the time to make good money as long as they have good discipline. I.e stop out losing trades & let winning trades once. However good traders will get it right the majority of the time and make excellent returns.

Hang on a minute my bro.

So can you confirm that you are saying that in the quote I referenced, Buffett is not talking about himself but talking about economists????

[SailorRob]

Well he is the one who looked out the car window & saw a traffic jam in Auckland and used that as a basis of his view that the economy was on fire.
Who would have thunk it.
A traffic jam in Auckland...

Anyway I have had enough fun today & we finally have a sunny day to enjoy.

Wishing everyone, including SailorRob, a very happy & successful 2024.
I think it's going to be an interesting year, particularly with the US election.
Hey but what year hasn't been interesting in recent times.

Before you're finished there is a new thread that requires your attention, it's called 2023 returns. Cheers.

[Daytr]

Before you're finished there is a new thread that requires your attention, it's called 2023 returns. Cheers.

Yes, so you have said & no it doesn't require or garner my attention.
As I have stated on multiple occasions I don't monitor my trading returns in percentage terms, as I don't care about that. The amount I trade varies constantly & I pull out money periodically as well.
And again if you unstood proprietary trading you wouldn't even ask.

[Daytr]

Hang on a minute my bro.

So can you confirm that you are saying that in the quote I referenced, Buffett is not talking about himself but talking about economists????

I was referring to this.

https://finance.yahoo.com/news/why-w...121058119.html