ftse, page-61

"Thought you would have liked the windsock bit CK?"


They should employ the *finger in the air* method, BD.
Whats the market PE (usually)? 15 ?
Therefore, the market's earning power is 7% pa.
Now, if you wanted to trade the market short-term, you would have a long bias, wouldnt you ? After all, you know the market adds 7% pa in value, or in *windsock* terminology, you are trading with a 7% tail-wind.
But no ! The *windsock* crowd want to trade always the short side with a 7% head-wind!
And when it doesnt work they cry ... PPT !!!!!!