Another podcast, the best content and worst audio quality so far! (MM annotated a lot of my stuff so you can actually understand it, his side comes through fine.)
The bit I’m teasing in the title is the last five minutes or so, you’ll have to suffer through the rest to learn how to grow out your financioparietal endowment.
I love the X-Files intro he put together for it.
Hey, can I listen to this episode and other episodes of the podcast? The video is set to private. Thanks!
Probably not, but I’ll ask.
but pls start with the goodish ones:
the DHLSC 1-3
halloween podcat :)
mcpodcat (send bloodcast)
those are kind of good to actually good. If you still want to listen to the shittier ones after those then uh ok. This one in particular is the fucking worst probably. (Real estate syndication shell game legit good advice for someone whose sole goal in life is money but more realistically very selectively trading basic call/put options on the stock market on the side is best potentially extremely lucrative side hustle for ppl… except it goes against all normative human psych so maybe not hah)
Aeoli’s rant at the start of DHLSC is pretty great. In fact listening to DHLSC part 1 right now I feel pretty stupid for turning my back on alot of the gutow stuff. Yeah there is some corny stuff and some lame stuff but still- it sanctifies LIFE! And I can hardly say the same for many these days, including most people on this blog. I’m sick of everyone just waiting to die. A never ending retreat…
“Put some meaning back into your meaningless life, I’m giving you tools not a philosophy” will always be too much for the petty despisers of life!
“you aren’t too smart for this shit” should be written on the fucking moon.
Thank you! I will defer to your judgement on which ones to prioritize. This one was appealing due to sheer curiosity and the “melon magic” in the title.
hey MM, love these old pods. could you talk a little about the counterintuitive psychology of option trading as you see it?
I could say ALOT, and I’m still learning, but the essentials:
-Never double down on a loser, ever.
-Position sizing. Obv, but if you put most of your money in one move it can be lost. Eventually, this WILL happen. If you put alot in a few positions, eventually you will lose two or three times in a row and its the same effect- wipeout.
-Losses hurt more than gains help. It will take you a 900+ percent gain to make up a 90 percent account loss. Up to 30 percent loss is absolutely recoverable. After losing 50 percent it goes to unrecoverable hell almost instantly.
-Just take the profit. Just take the loss. They both will hurt, but its about winning in the long run. If you are “holding and hoping”, you are losing. (at the same time, some things do need a while to know if they are going to work out, so this is complicated)
-I no longer believe in explicit “day trading”. Worked for me until it didn’t, and in one move it REALLY didn’t work. Having a strategy that forces you to make insanely fast decisions will lead to you eventually fucking up big time unless you are basically superhuman (or program an algo…).
-So what do I believe in? A big picture thesis that is weighted in your favor, with diversified positions, good position sizing, etc. IE- Loads of trash companies have run up because of Corona virus, on the promise of them making a vaccine or related. Buying long dated puts on SEVERAL (not just ONE. too risky) when they run up, accounting for raised IV and all that shit, is weighted in your favor to win. How can trash companies like INO and CODX maintain their current prices? Presumably, they cant all develop the damn vaccine/ make shit loads off tests.
you could say buying the rare multi day dips on the big tech stocks or even just spy to be a similar weighted opportunity (for NOW). Long term, many of the stocks harmed most by corona are an oppo too. But we cannot yet foresee how things are going to play out so that is not yet a true opportunity IMO. The cruise lines could theoretically just fail, but a diversified call strat in airlines, cruise lines, casinos, and MAYBE some theme parks and shit (some will just go bankrupt) will prob be “the shit” at some point.
That being said, you still should never go truly “all in” to one thesis, and you need to know what is part of it. IE if you are buying the dip on INTC dont simultaneously buy puts on AMD if you have already put too much money in the first move… because they are close enough to being the “same bet” and you cannout count them as two different… “risk events” I guess you could say. So, you should have just diversified and done a little of both to begin with…
That’s all I have to say for now. I made alot, lost alot. Still learning, and hopefully what I’ve already been through and learned will pay off in the long run.
Lots of food for thought, thank you
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