I love this post about cycles on The Big Picture so much…every word of it is relatable to those of us crazy enough to have survived in market-related jobs for ten years or more. If you work on The Street, you will nod knowingly.
I hate the fact that I didn’t write it myself – It’s perfect…
From The Big Picture:
If you manage to survive in the market for a long enough period of time — I guess that’s somewhere in the neighborhood of a decade — you begin to notice the repetitiveness of cycles. You begin to notice the show never ends. There is a daily rhythm of the market open, the initial lift or fade, the counter rally, success or failure, the reasserting of the initial move. The midday slow down (traders gots to eat too!). The mid-afternoon move, (and at times, the terrible remorseless march of the margin clerks). Then the close. I suspect most (human) traders and quants live in the context of a daily grind.