domenica 23 marzo 2014

The Luckiest Trade Ever

It was Spring 1997 and I walked into the lobby at 60 Broad Street to head to my firm’s trading floor. As I entered the elevator the firm’s head trader commented to me “hope you aren’t long Intel”. I responded that in fact I was short Intel and a few other technology stocks that had behaved weakly the prior trading day. At first he was taken aback and seemed not to believe that I was short. To put this conversation in context the time period from 1995-1996 was bullish for technology stocks. The first internet stocks were becoming public and the PC market was experiencing a period of rapid expansion. So the idea that a trader would Read more [...]