Silly Rabbits!

A reader of mine, Oswaldo, sent along this excerpt from The History of Greed:

“Now, be honest. If you have ever bought a stock, why did you buy it and not one of 10,000 others? Of course, you expected the price to go up. But why did you expect that the price would move up? Did you receive a hot tip from your brother-in-law? Did your broker want to reward you as a (supposedly) favored customer? Did you read something in an obscure place? Whatever your reason, somehow you thought that you had the inside track on that stock, and that you knew something the market didn’t. You thought you had an edge, and you wanted to take advantage of your special knowledge. So then you too have a bit (or a lot) of larceny in your heart, and you too want your unfair share of the market. You and I then have something in common; we’re human.”

My reader Oswaldo writes:

“Again and again, people don’t get it. They should read Trend Following.”

Good point!