Podcast EP 125 Bad Decisions (Jan 24)

For those who don’t know, the above is the KPOP group BTS. They have a song titled “Bad Decisions” Podcast Available onSpotify | Apple | Google Podcasts | AmazonFollow me on Substack NotesRecommended byDoomberg Adam Taggart Herb Greenberg Mentored by @BillCaraSubstack Featured 2XPremium Service Preview“Honesty in a sea of deception is of great value” - Ralph (Pledged)“I like your in-depth analyses of the markets as well as pointing out what might lurk underneath that could rise up to bite us” - Sorell (Pledged)—“Your Wrap on the markets every day keeps me focused and grounded” - Lj (Pledged)—"I want to learn how to read the market for longer term trades as opposed to what Wall Street wants me to do” G.M (Pledged)—"I like your objective view on the markets” Ron P (Pledged)—"Good info. Succinct and relevant. Very good calls this month.” Andy J. (Pledged)I want to thank the 2000+ Subscribers who support the Substack! * I plan to turn on premium when we surpass 3000+ total subs* Pledging requires a credit card but it is not charged until Premium goes live* What will premium include? (at minimum)* Watchlist(s) (Bullish, Bearish, Price levels, if then scenarios)* Webcasts covering charts of all above* Additional Premium only content viewable in daily show notes for Premium subscribers* Complimentary PDF copy of the upcoming book "The Maverick Investor's Handbook" by Bill Cara, one of my mentors. (a $20 value but priceless learnings).*This book is geared toward longer time frame investors, Baby Boomers retiring who want to manage their own 401k/wealth, and younger investors trying to avoid the #YOLO gambling* Over time you will develop ability to analyze the markets and become more comfortable making your own decisions and controlling your own wealthI want in! How?Instructions:* Subscribe by clicking “Subscribe” or this link.* Once you are a subscriber, you should see buttons that say “Pledge your support”Show NotesSummary of the dayHe doesn't post often but always watch out for Diego Parrilla and his work. I recommend his interview below.I love his framework...Stages of expertise* Unconscious incompetence* Conscious incompetence* Conscious competence* Unconscious competenceThe entire video is masterclass. I especially loved at 19min market the hard lesson on conviction and the market doesn’t care about yours. He was in a gold position that was going against him and he asked his boss at JP Morgan if he can double up. Diego was told to sell the position and buy it back twice. In effect his manager was becoming his stop loss. So after he got out of 10,000 ounces of gold and was ready to buy back in 2x the size, he paused and stopped. My takeaway is never ever fall in love with a position. Speaking of bad decisions! Per Slopeofhope.com. In spite of the fact that, even in this brain-dead goes-up-every-day market, TSLA has been bucking the trend day after day, the degenerate gamblers at WSB figured they should put their life savings into TSLA calls.Here’s one example. As the poster says, he started with $250,000, and he put his surviving few thousand bucks into TSLA calls. I suspect his days as a “trader” are now over.Breadth* 970 new highs* 142 new lows* 42% advancing 54% declining* 35% below 50 day ma* 36% below the 200 day maStuck outTSLA after hoursIf you are curious, here is the Tesla Investor Deck. And Webcast. The Q&A is the best part. StrongWeakWhat to watchWatch mag 7 Watch yields Economic datahttps://www.marketwatch.com/economy-politics/calendar Financial Freedom is not free, but the treasure is worth the pursuit. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.notyouradvisor.com/subscribe