Mea Culpa

As a general rule, and one I actually manage to follow, I never look back on trades except to analyze them.  It's one thing to look for what was wrong with the way you analyzed, traded, or passed upon an opportunity; it's another to simply regret making/not making a trade.  Alas, there is one trade I fully regret--and I must come clean. 

I was short BSC at $145, back during the summer.  We were going into the numbers, and I was buying on anecdotal evidence about their PB acting--let's say--"off" with their hedge fund clients.  I thought this was the beginning of the end.  I shorted...heavy...for me.

Then I spoke to an analyst at one of the finest money-losing operations on the street--think Swiss--who was wildly bullish about their international operations.  I hadn't done much dd on the investment, so I let him scare me off going into the numbers.  I covered.

Mea Culpa, Friends.

Comments

[theunrepentantgunner]

always play a lone hand...

shit, you just linked to reminisces about 4 posts ago...

[Stupid Equity Guy]

I was short bear on and off all fall and winter... happened to have a small to medium short on with multi put legs around 60 when the Bearshit hit the fan... Best ride I have had in years... best day and best week in years...

Then I had to push my luck by not pulling in the rest of the basket... WOW its amazing how fast you can loose money at this game, short Leh in size and puts when the JPM boys make Bear boys cover...

Since I closed out the puts on Bear when Bear was low 3's Monday, I have had the rest of the basket use me for a pinata... I was also stupid enough to own commodities as my hedge against financial shorts. (joking on the math, not the position)

For those who went long and pushed hard, (let me guess that was you gunner?)... ya got back my Bear Rewards in daily MTM for me, but I believe you guys are prob daily P/L types, either way I have not tapped yet... Am still stupid short the basket...

~Stupid Equity Guy