The Treasure Hunter
Q: Now that you’re trading by yourself, do you ever have people
that you speak to on a daily basis? Or are you pretty much doing it
on your own?
A: I always try to talk to a lot of different people in the markets.
Q: Every single day?
A: Yes. People whose opinion I respect, and also there’s the
proverbial dumb money. I think it’s valuable information. You
want to talk to as many people as you can and decide whether
you’re going to trade or fade these guys today, It gives you a huge
amount of information. For example, if the markets first rally today
because a crop report came out and it’s looking good, and you’ve
talked to four people, two really good traders—who say, “Yeah
we’re bullish, we’ll get long today.”—and two guys who are slow
behind the curve—and they also said it’s obvious that it’s going
higher today—and all the sudden the market starts acting really
bad at the end of the day, that might give me the guts to go short
or to bet against these guys or to squeeze it on the downsize.
Q: So a lot of sentiment work goes into your analysis?
A: Yes. I want to talk to people in the market every day. You try to
pick the people who you think are the most sophisticated traders,
but you also get sentiment from a broad spectrum of people.
Q: It sounds like most of your strategies are in and out, in and
out, do you ever carry anything overnight?
A: Yes.
Q: Is it in a different portfolio, same portfolio, and/or different
broker?
A: Yes. I’ll describe it as briefly as I can. I have one limited
liability company that I set up for my aggressive trading. That’s