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What? Steve Jobs was just another nut who lucked into a broad market trend at the right time?!
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Steve Jobs: So, he’s a lunatic, who exploited child labor in emerging markets to make over-priced consumerist products, who ignored scientific evidence to choose his self treatment for cancer, exhibited the same kind of piratish bullying capitalist behavior that Gates is routinely crucified for, and was a jerk to people around him.
is that the kind of lifestyle he proposes to recommend to everyone else in his Stanford commencement speech? no thanks, fan boys
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Weekend report review, Apr 24, 3011
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A short term trading strategy for chaotic markets
today’s intraday trades in EEV, the double leveraged inverse emerging markets ETF are instructive in the kinds of short term trades that are working in this volatile, chaotic market. That is to say: short time frames, with low risk trades framed in the most volatile indices. I currently favor EEV because it is very volatile and emerging markets have been the weakest of the regional indices. Therefore when the US markets are tanking like the last 2 days, EEM should do even worse, and therefore EEV should do great.
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- how to buy in 2d position
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- an intraday trade in EEV
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- an explanation of the Washout pattern
Wisdom vs Instinct
As you will recall, a pair trade is a trade that goes long one side and short the other with the idea of capturing the difference in performance. Another way to frame my current favorite pair trade is “Wisdom” vs “Emotion”.
It is my hypothesis that a species’ evolutionarily successful emotional responses are codified in DNA as instincts. We also know that markets punish herd behavior, since the herd can be spooked, and therefore trusted to overreact in moments of peak agitation. This is why I like to measure volatility and describe it with statistics in such a way as it is both stable enough for continuity and yet adaptive enough to respond to change in accord with deeper trends which are evolving underneath the surface of direct observation
In this pair trade Buffett plays the role of wisdom, the prototypical wise uncle who has seen it all, and knows how to frame the problem and navigate through uncertainty. The latest, hottest ETF, the metaphorically exuberant youth in search of riches in the land of milk and honey, is represented by EEM (the emerging markets).
There is a time for each in the human life cycle, in the passing of seasons, in the cycling of markets. Would we really say that the exuberance of youth should be cut out of our life and experience? where would the ventures come from? the entrepreneurship? wisdom is not everything, but it also has its time and place.
Just as we can grow and mature in our judgement, so to can we bring different values and insights to bear as the market morphs around us.
This is clearly Buffett time, however you slice it 
