The Morning Report - Life Changing Events

Oh men!


Paul Tudor Jones recently caused a stir when he spouted that women cannot be successful traders once they become mothers. His chauvinist view is skewed because he is a narrow minded old codger who thinks wives give birth and raise babies in a different part of the mansion aided by a nurse while the men focus on making money.


Okay, yes, I took his remark personally!

But these are are very different times, Paul. Fathers today are just as encumbered by sleepless nights and 2 AM feedings.


But I digress. baby


Paul tried to cover his tracks the next day by saying that he was referring to stressful life changing events.  He claimed his message holds true for a man who is in the midst of a divorce. In this regard, I cannot disagree with him.

It Happens to Everyone!


I know a successful portfolio manager whose wife gave birth to twins this past year. It's no surprise that he gravely under-performed as he was waylaid by sleepless nights and 2 AM feedings.


Sadly in the crazy business of money management, he cannot accept the blame or risk losing his career altogether. He cannot bring himself to admit this life changing event affected him. He will need to blame other factors or some poor sap analyst to take the fall.



It's Okay to Take Time Off!


I so often tell traders that they should take time off when life throws them a curve ball. Set hard stops on current positions and take some time off. If your wife files for divorce, or your husband loses his job or a parent goes into the hospital, you will not perform well. You will be distracted, probably sleep deprived and naturally stressed.


Check That Ego


Don't have the ego of the PM who thinks he can have a baby while building out a hedge fund. You will not be on top of your game. 


My performance this week has been abysmal. Why? You guessed it - a stressful life changing event. 


Reminding Myself

I have not taken time off because I have a service, a chat room with traders who rely on me to give them good advice. And I already have scheduled time off. We have a family vacation planned the last week of this month. But these are excuses and  I must take time to regroup. I am no good to my community if I am off my game. 

Dropping The Losers


I look at MOTR and I am stunned that I am still in this stock. A shooting star signal in overbought territory followed by a bearish engulfing, also equating to a bearish left/right combo is a definite sell signal but I still hold the position. I should have dumped it yesterday. It must open positively today for me to stay in. As for the rest of my positions, I will be setting hard stops after the open and taking the rest of the day off.


Did I mention Sleep?


I have not slept for a week and the Tesla Software Ambi-science sleep technology that was recommended to me and that is very cool, sadly, did not help. I have still been awake since all hours of the night.


The market is quite bullish after SPY broke out yesterday. Follow the signals and stay disciplined and if you are distracted, take the day off with me.

The market will always be here.

Good Luck!

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