I hope you all had an eventful Memorial weekend, yet still managed to spare a few minutes of appreciation for our proud fighting men and women, here at home as well as abroad, in times past as well as at the present. Wherever you went, I hope it wasn’t Chicago.
We need a comment cleaner and I’m off until Tuesday, so I thought I’d put up an old favorite covering a few essential Evil Speculator tenets I posted some years back:
When equities turns volatile each added gyration serves to stir the collective emotional cesspool of market participants. An unfortunate cognitive bias we as human beings all share is that we tend to see mostly what we want to see, facts, evidence, or reason be damned. Also known as ‘confirmation bias’ this factory installed feature of the human condition seems to particularly live up to its promise when it comes to the trading racket. Throw in a few wild swings and the bulls will regard each drive lower as an obvious dip buying opportunity while the bears see it as clear confirmation that the prevailing trend is weakening.
I bought some bitcoin a few years ago at about $440.- and kind of had forgotten about it since as I only had been interested in digital currencies as a possible alternative payment method here at Evil Speculator. However after some research into the space I discarded the idea for two reasons: For one should BTC ever fail then switching recurring subs back to the old greenback would be problematic. And second the gyrations even back then made my head spin and I didn’t consider it ready for prime time.