Tuesday, 12 November 2024

Greed is good

for right now, anyway…
 
   
     
   
 
NOVEMBER 12, 2024
   
Hey y’all,

In the 1987 film Wall Street, Michael Douglas’s character Gordon Gekko delivers an iconic speech to the shareholders of a company he’s trying to control. 

Famously, he declares: “Greed, for lack of a better word, is good.” 

If anyone remembers anything from this speech, it’s that singular line. But the end of the speech is also fascinating: “Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA. Thank you very much.”
 
 
But today, we view “greed” as one of the ultimate vices. 

Wanting more for ourselves? No, that’s not polite. That’s not what’s done in fine society. It’s distasteful.

Of course, Gordon Gekko wasn’t meant to be a moral leader or a role model. But his basic idea, that people who take big risks and push new ideas are driven by incentive structures that reward their successes, shouldn’t be controversial.

And that’s true for your life as a trader, too.

Right now, in the White House Wave post-election, the Fear/Greed index is pushing higher and higher. Currently sitting at 68. 
 
While the old Warren Buffett logic insists “be fearful when others are greedy and greedy when others are fearful,” I think sometimes it’s ok to be greedy when others are greedy. 

Right now there’s a wave of momentum in the stock market, and as I’ve shown before, history indicates that these White House Waves last for at least 10-14 days after the election.

Yes, of course, the markets will reverse eventually. And maybe it could be today.

And, then again, maybe the sun won’t come out tomorrow if you wash your hair. Think like that, and you’re gonna go crazy.

The point is, if you run your trading accounts constantly waiting for the other shoe to drop, you’ll miss out on many opportunities and cause a lot of heartburn.

Never risk your whole account on one position, of course. Always protect yourself where you can. 

But don’t forget to make hay while the sun is shining, cause it won’t be forever.

To your prosperity,

Stephen Ground
Editor-in-Chief, ProsperityPub
P.S. Tomorrow’s CPI data could sink markets just as easily as it could send them soaring! But Jack Carter’s data shows that THESE TWO STOCKS could soar — no matter what!
   
 
at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Remember the August “crash”？ (these stocks don't)

These tickers proved something important about trending stocks                                                 Tips, tricks, tutorials a...