We have a guest post today from my friend Alex Tarhini, who is an impossible combination of clever and handsome and still single, ladies.
I found myself nodding my head reading this…
What to Do During a Market Correction
Hedge Fund Managers:
1. Let clients know that you saw this coming and that of course you are hedged
2. Yell at the nearest trader to f*cking hedge the book
1. Call everyone on your CRM that you have ever told to short a stock
2. Avoid calls from the clients who you told to buy stocks last week
1. Over analyze anything that can be spun as a reason for the market to sell off
2. Deadly viruses typically work here
Dentist / part-time e-traders:
1. Panic into complex option positions that your wife will never understand
2. Yell at your kids about your damn theta burn
1. As a fiduciary, it is your responsibility use this time to sell the most active, high-fee funds you can get your hands on.
2. Remind Mrs. Jones, you don’t know where the next 20% move is, but you do know where the next 100% move is.
1. Go on CNBC and make it clear that you are right about something
2. Tell yourself how awesome you are
1. Remember the “good years” when the VIX was at 90 and the economy was collapsing
2. Realize that isn’t happening and that HFT just scalped you again and you have no idea why you’re still doing this
1. Email blast that bearish note you wrote in July of 2013
2. Write a “what to do now” email behind a paywall with a 15% discount, type “bear” in promotion box.
LOL, thanks Alex!