Article Image
IPFS News Link • Stock Market

Hedge Fund CIO: "Stocks Are Going Parabolic For All The Wrong Reasons:

• by Eric Peters

"This game is about inches, little decisions, luck, never forget that," grunted Bulldog, one of the great trading talents. "I saw that Wuhan mess in late Jan and bought S&P puts," barked Dawg.

"By mid-Feb they were pretty worthless." From Jan 31 through Feb 19 the S&P rallied 5%. "Once the market started to puke those puts came back to life, and with days left to expiration I sold them and went on vacation. That cost me a 50-1 payout," he growled.

"It's alright, I've gotten lucky plenty of times, move on, next," said Dawg, itching a torn ear from some old brawl. "Stocks trade like they're going parabolic for all the wrong reasons, like the Fed made a massive mistake, gave away too much free money." 1998/1999 raced through Bulldog's mind.