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My favorite saying about markets is: "The market can stay irrational for longer than you can stay solvent."
by thyrsus 10y ago
My favorite saying about markets is: "The market can stay irrational for longer than you can stay solvent."
- curiousgal 10y agoLearned that the hard way trading Ether.
- patrickk 10y agoI'd like to hear your story if you'd care to share. I searched around for any strategies for trading ether and other cryptos, and came away with the conclusion that anyone successful keeps their cards close to their chest. Instead I built a mining rig and hold ETH for the longer term (day to day mining is unprofitable currently due to high electricity costs where I live).
- icewater 10y agoPlease elaborate on you Ether trading.
- kbody 10y agoEther is being heavily manipulated for a long time by the Ethereum Foundation, so having the "normal" altcoin/crypto speculation is enough to drive you nuts, but having some a team of bag holders coordinated to manipulate price is a "retail" trader killer.
- dexterdog 10y agoThat was illustrated quite well in Greatest Trade Ever / Big Short / [insert other books about housing meltdown here], but in that case it was more that the market stayed both irrational and criminally manipulated too long.
- whack 10y agoIt's worth noting the context: You shouldn't make any highly risky bets based on the assumption that market irrationality will correct itself soon. This article on the other hand, is describing irrational behavior/beliefs by individual investors, that will only ever hurt their investment performance in the long run.
- branchless 10y agoIn the long run we are all bread.
- fegu 10y agoClassic John M Keynes.