Those Who This Morning Thought Markets Would Close Up Deserve To Lose Everything They Did — And Why Is ‘Ferrari’ UP?
The mentality and acumen of many of my fellow investors amaze I!
Why would you think — on a FRIDAY — with New York & California closing down, that THE SMART MONEY (and yes, I do count myself among those (SMILE, SMILE)) would go LONG into the weekend. [‘Long’, meaning without taking risk off the table.]
That is not how it works. Smart money is risk averse. They are NOT going to get caught short over the weekend in case things really start to unravel. Best to unwind position and keep your powder dry for Monday.
All that said, I am LONG — and have been for 20-years! But, I am SMART MONEY.
I knew that we would close down today. Had to. If we hadn’t, I would have despaired.
I am keeping an eye on Ferrari.
Now, in the case of Ferrari — I did sell! I had owned Ferrari for YEARS, since it was spun off from ‘Fiat Chrysler‘ in 2014!
I will buy it back — later in the year.
But, why is it going up NOW?
How is rushing out buying cars right now.
I feel bad for the stupid money. SMILE.