Recently had a coffee with a potential student who was in town on a conference. He reached out, I was here, we shared some time. Nice talk. He is a private jet pilot, and was seeing very clearly the “checklist” mentality of trend following (and parallels to flying).
His motivation for going the trend following route? He works for the figurative billionaire. During the crisis, right at the heart of chaos, he was ready to take off, but was waiting on his boss. The boss was on a cell call prior to the Lehman collapse and based on the information he was receiving, was selling as fast as possible–all before the crash.
My potential student realized at that exact moment that he would never have billionaire-like information access. He knew he had to find a way to make money that did not involve high-level tips. Smart thinking on his part.
Could you make money on a desert island with just price quotes and a way to place trades? That’s the question.