TV Analysts need to stop comparing the current market to previous markets
I'm a mid-40s guy. Former derivatives trader.
ABSOLUTELY nothing is the same as it was in the 90s and 2000s, much less the 80s, 60s, or the great dip after the fucking 1920s. ABSOLUTELY nothing is the same in the way we think, the way we trade, and the way we consume information. Why not start using the great Tulip Bulb craze in their analysis?
When I started, I had a Casio, a mechanical pencil, and a piece of paper to calculate spreads like fucking Cro Magnon man. I might as well use a slide rule. We had to actually call the equity desk like an idiot to ask if we had house positions to short. The OTC guys were fucking drunk most of the time. Scarramuzo kept yelling "push it through" without even bothering to calculate margin. Clients were lied to on fills and pricing because THERE WAS LITERALLY NO WAY FOR THEM TO KNOW!! I actually had to read a physical newspaper like an idiot because broadband hadn't been invented yet.
Today, folks can get all the math done in an instant.
Today, we get all of our investment catalysts while we're on the can.
Today, we have Robinhood people doing condors by the time they're 15.
These analysts are absolutely full of shit and I wonder if they actually worked a day in the business. There is nothing remotely similar between today's market and any market in the past.
Position or ban right?
NIO, long stock unlike you retards because I'm actually a responsible adult. (..at least until the 16th then stop loss on half)
Submitted November 12, 2020 at 02:58PM by civgarth
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