The worst part of bull markets is the rise of inexperienced people educating other inexperienced people.
The worst part of bear markets is that doom and gloomers finally feel vindicated even though they are wrong 90% of the time.
Assorted observations from the weekend:
1. Cramer has tweeted about Black Monday 10 times
2. Suicide hotline pinned to Stocks subreddit
3. 7 Republicans now support Trade Review Act
4. Timeline is so bearish people are convincing themselves to be bullish
5. The only people left defending tariffs are the dumbest people you know
6. One man caused this, and he can change his mind at any second. Anyone who claims to know what happens next is a liar
7. Even (especially?) if tariff policy changes, Trump broke a lot of stuff that cannot be put back together
“So the market makers control the market?”
“Yes Joe. They set the prices - calls, puts, futures - you name it, they price it. Wait until you hear about skew…”
“Skew? Whats that?”
“Joe, they’re pricing the puts higher than calls. It’s unfair, Joe, it’s rigged against you.”