I’ve known two people that always acted like a cat on a hot tin roof.
One was a trader in an old school day trading room. And the other was my previous pastor.
Seems like every decision made by either of them (or those around them) was an anxiety-ridden affair.
The need to “be right” rather than “do the right thing” caused a good bit of stress around the trading room – and the church…
I first met this “anxious trader” in Chicago late in 2000, where he traded his own account in a day trading room run by a good friend of mine. For those of you not familiar with them, day trading rooms were all the rage from early 1999 until about 2003.
It’s hard to imagine, but broadband internet was not available widely in the late 1990’s and early 2000s. As late as 2003, only 39 percent of U.S. households had broadband internet.
So, folks interested in intra-day trading flocked to trading rooms set up with computers, broadband access and usually CNBC blaring on the television.
And the interaction among traders in this rooms was legendary. They attracted talented traders, newbies, and everyone in between.
If you’ve been watching the market, you know that FANGMA is on fire right now. Facebook is selling at $191, Apple at $193, Netflix at $361, Google at $1,155, Microsoft at $102, and Amazon – a whopping $1,674. As of this morning, all of those companies are in the green. And for Amazon, Microsoft, and Netflix those are the all-time highs. Those are steep prices to pay for a single share in a company – and enough to make your stomach turn – yet they are still poised for more upside. Double digit growth in these huge stocks is still highly probable. And it’s astonishing, considering that back in the 80’s a single digit return on a hot stock like GM was reasonable. According to D.R., you have to look at the history of these companies to truly understand why they are still outperforming. On this live appearance, he reveals his opinion on them… Click here to watch…