Smart Money: If you don't know who the patsy is, you're the patsy
Many Happy Returns
How to Win the Game as a Retail Investor
Market makers want you to trade a lot. That's why the commission's free right? Look it's like a game. Like don't do those things. Be a kind of nightmare investor from the point of view of the broker. Trade infrequently. Be very selective about what you buy. Don't necessarily try to beat the market and really you can win the game. The thing is if you just track the market you're gonna outperform 80%. So that's a pretty easy game to win. If there were rational investors they'd trade a lot less. And this is something Robert Schiller pointed out long ago which is that there's just too much volatility in the markets given how much
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