Posts Tagged correction
Market Correction
Posted by simonposullivan in Equities on October 10, 2014
I liked this (h/t Alex Tarhini)
What to Do During a Market Correction
Hedge Fund Managers:
- Let clients know that you saw this coming and that of course you are hedged
- Yell at the nearest trader to f*cking hedge the book
Stock Brokers:
- Call everyone on your CRM that you have ever told to short a stock
- Avoid calls from the clients who you told to buy stocks last week
Financial Journalists:
- Over analyze anything that can be spun as a reason for the market to sell off
- Deadly viruses typically work here
Dentist / part-time e-traders:
- Panic into complex option positions that your wife will never understand
- Yell at your kids about your damn theta burn
Financial Advisors:
- As a fiduciary, it is your responsibility use this time to sell the most active, high-fee funds you can get your hands on.
- Remind Mrs. Jones, you don’t know where the next 20% move is, but you do know where the next 100% move is.
Economists:
- Go on CNBC and make it clear that you are right about something
- Tell yourself how awesome you are
Day Traders
- Remember the “good years” when the VIX was at 90 and the economy was collapsing
- Realize that isn’t happening and that HFT just scalped you again and you have no idea why you’re still doing this
Newsletter Authors:
- Email blast that bearish note you wrote in July of 2013
- Write a “what to do now” email behind a paywall with a 15% discount, type “bear” in promotion box.