I had long hair and was driving a Volkswagen van. Yep, a total cliche of looking like a hippy. Well, I was a hippy so I guess that was to be expected.
I was driving as fast that that old 1957 microbus could take me which was not very fast.
All of a sudden, I heard the sound of a siren and saw flashing lights in the rear view mirror.
I’m not speeding! My VW can barely go the speedlimit let alone speed in West Texas!
I pulled over. The cop got out and sauntered over to my window.
“I want you out of my county right now. Don’t stop driving til you get out of my county.,” he said succinctly.
I mistakenly blurted out, “But I didn’t do anything!”
“Your tail light is busted.”
“No, its not!” and I got out of the car and went to the back of the car. The tail light was fine.
He sauntered back, stopped for a second, and kicked out the tail light.
He blandly looked at me.
“Thank you, sir, for alerting me to my busted tail light. I’ll get it fixed in the next county!”
The point: you can’t fight the market. No matter how stupid, manic depressive, compulsive, or just plain wrong it is.
It will always win. It is too big to beat.
Our job as traders is to simply look the market plain in the eye and say, yes sir, I’ll go short XYZ. Yes, sir, I’ll go buy some ABC.
That is the way to make money in the market.
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I was in Hong Kong last week on business.
I was staying at the Hyatt Regency in Sha Tin, which is on the outskirts of Hong Kong.
Across the street is the Sha Tin Race Course. This is the secondary track in Hong Kong.
The biggest race course in the world is right in the middle of Hong Kong. It’s called Happy Valley. Betting here is crazy!
The amount of money bet at Happy Valley in a year is more than all race courses in the US combined! They love their racing here.
I love Hong Kong! I love just walking down the streets because of the great energy on the streets. I’ve only felt that in two cities, Hong Kong and New York. Partially it is the jostling of people on the street. Partially it is the focus of the people on the street. I always feel that Hong Kongers and New Yorkers are on their way somewhere to accomplish something important.
Is this a great tourist town? Not if you want to go to museums. This is a city all about the living. Some people believe this is the best eating town in the world.