With all the new financial rules and regulations, ideas such as "honesty" and "fairness" have forcibly been added to the dog-eat-dog mixture of markets. This creates a potential hale storm of falling pianos as to what can be viewed as illegal and/or illicit indecisions and taken positions.
Perhaps language should have been included in the Volcker Rule to prevent stories like this one from being published.
Apparently, if I'm a young, rich Hollywood type I too can become a market wizard over the span of a few weeks. Checklist for great success on Wall Street:
1) Series 7 materials from Schwab office in Encino
2) $20,000 loose change
3) Dinner with Soros
4) Hanging out with Trump and Chanos
5) Be best buds with Nouriel Roubini
Osmosis in a flash, ladies and gentlemen!
The whole hype around Wall Street 2 has been one of the most ill conceived contrived farces in recent memory. Was it supposed to teach a lesson? Point the finger? Create a stir? Didn't seem to do achieve any of those.
All the whole production (both film and contrived media frenzy) has shown me is that it is absolutely true that you cannot go to the well once too often. The past may be prologue, but it can never be a manuscript for today.
As we slowly trudge along our "U-shaped" recovery curve, the rationale (or lack thereof) behind this fluff piece bares some thoughtful examination. The world changes, it changes around us and it changes in a heartbeat...we must change with it, but hang on to what makes us ourselves. Though I don't read too much into it, there is certainly an undercurrent of "so easy a baby could do it" to this (likely, very tall) tale, when all of us here know it is quite the opposite.
Being able to adapt and see the playing field around you will be a great determinant of your success in life. Differentiating friends from enemies and opportunities from risks can make or break you. Everybody is selling something: whether it be an idea, a product or simply themselves. Buyer beware.
I don't buy the hype, but I will always be long myself regardless of market trends.
Hope you guys feel the same way when you look in the mirror.
Hope you know that's the only true way to the success that money cannot bring.
Have a great day. Saturdays are for enjoying...get to it.