?

Log in

No account? Create an account
Monsoon's Journal
 
[Most Recent Entries] [Calendar View] [Friends View]

Saturday, October 2nd, 2010

Time Event
5:26p
Trading
The trading business turns in part on one’s ability to find the fool -- to find people willing to take the stupid side of the smart bets you are placing. One of the side effects of our seemingly endless financial crisis is to wash a lot of fools out of the game.
It’s as if a casino owner awakened one morning to find the tourists had all gone, and the only remaining patrons are pros counting cards at his blackjack tables. As he looked around his casino, for the first time in his life, he couldn’t find the fool. And the first rule of the casino business is: if you don’t know who the fool is, it’s probably you.

<< Previous Day 2010/10/02
[Calendar]
Next Day >>
My Website   About LiveJournal.com