In a way, being the global master of corruption does have some appeal, because it could ultimately make me as much money as JPM. However, alack and alas I am not him or her (the global master???).
Peter my assertion was simply an effort to put it that: the more you trade the more likely you are to lose money. Statistics I have seen indicate that over 90% of traders lose money (even the pros), obviously some people profit from their trading, and some much more than others; but then we also have the institutions with their high frequency algorithmic computerized equations who are clearly given an unfair advantage over most market participants.
With regard to you and Ethixer, my earlier post was in relation to Ethixers' observation that todays sell-off was about "buy the hype sell the news", further to that I also mentioned Fidels' post - he put it this way "buy the rumour sell the fact". Perhaps that wasn't clear for you?
So I take your riposte as being unnecessarily prickly, I was not buying into your stuff with Ethixer and don't believe that I implied it. But I do wonder if JPM have any other positions that stand up that well - remarkable, but probably a rare one, but nonetheless a market that has most certainly been manipulated and one that W Buffett has had some machinations in as well (late 90's). Not that I might know as much as some here........
Further I have thought that the majority of your posts here are well reasoned and presented, but no-ones perfect.
SAS Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
