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We’ll get to the markets in a minute. Today I’ve got a terrific blow-by-blow example of a trade gone wrong and how I kept it from turning into a total disaster. There’s a good lesson here that you can put to use at home.
But first, exciting news!
One of the fun things about running a newsletter is that I get to interact with the public a lot. Ordinarily, as an extreme introvert, I’d rather get a root canal than interact with strangers. But I structured this site in a clever way, to make it easier and more fun for me to do that: all the content is long-form and I turned off the comments.
What that means is that the only people I ever have to hear from are intelligent, engaged readers. All the reactionary, emotional, usual blog BS gets filtered out. Those guys go to ZeroHedge, or poor Ritholtz has to deal with them. (But they get way more traffic and make way more money of this stuff than I do, so I’m sure it’s an acceptable trade.)
In any case, 99% of all the communication I get from readers falls into one of three buckets:
- Questions or comments about the latest newsletter’s content. It’s almost always accompanied with a “great work” or “thank you,” and that means a lot to me. It’s way better than the $0.15 or whatever I’ll earn if you click on one of these ads.
- Questions about what they should do with their money.
- Questions about who they can talk to about professional money management.
I’m passionate about economics and the markets, so I’ll talk to somebody all day long about what’s happening in the financial world. But unfortunately, I never really had a good answer for questions #2 and #3.
Today I finally do.
Alpine Advisor is my new subscription newsletter.
It helps normal people build professional-quality portfolios.