Thanks. I was not talking about people who shortsell stocks. I do it all the time too even though I am an optimist/bull not a pessimist/bear.
For instance, I have currently two positions on LLC (long and short). I have gone short at 10.29 and have been sitting on a healthy profit. Also I have gone long on the same stock at 7.20 and have been in green on that position as well. That's just one example.
I was referring to those people with websites/blogs etc. or "El Profetas" who claim all sorts of ..... I remember back in the old days before I had access to the Internet traders were trading without fancy tools, and trading successfully. We did not have fancy graphs, blogs, subscriptions etc. etc. Suddenly they come out from who know where, slap together a website, charge a fee for newsletters, and claim to predict the future. Some of them are moderate while majority is radical in their claims. The more radical the more attention they attract - meaning - more subscriptions. All wrapped up in a fancy lingo. I guess they think they sound more intellectual or credible or something :)
These guys would not trade big (shorting) if a black swan event was to happen. They have their online subscription based business to worry about. :) I was always wondering how people buy their pitch - errr, they have been soooo successful using their trading systems or models that they had to resort to online subscriptions!!? What the...???
If their trading system/model is so successful I guess they would be able to make more money using the system rather then generate profit via online subscriptions! And because they were soooo successful why they do not share the system with everyone for free? :) I mean they did earn enough using their system, didn't they? How much is enough?
So, now, when there is panic in the market like a couple of months ago, they come out predicting end of the world! LOL And then we hear from their disciples etc. etc. Astrology, bones, voodoo and who knows what not!
The circus goes on. If there is a black swan event and if the markets go bust and for good, even El Profetas won't be making much because majority of their subscribers went bust too :)
Ah, ah.
Rest assured if it does happen as they claim, the only persuasive trading tool will be AK-47! That is if you can get your hands on one.
(20min delay)