A sea of red
Fortunately this doesn’t reflect my betting exchange activity, tepid though it is this week. The title refers to the chaos in financial markets. As a lot of your know I am heavily invested in financials and it’s part of my grander plan to eventually sit on my bottom each day doing nothing. I’ve been actively investing since 1990 and messing around for longer than that. It was gambling that lead me to the great casino of the lot, the stock market.
The recent market falls illustrate a nice point about the difference between financial markets and betting markets. At the moment financial markets are swooning in unison, everything is getting marked down with little exception. All the good stuff is getting beaten up and dragged down along with the dross. On betting markets it’s impossible for prices to move up or down in unison, impossible. So this leads them to be bounded by strict upper and lower limits. Both markets however, do have a wonderful propensity to overshoot in either direction dragging prices up or down (individually) beyond their ‘true’ value. If you can learn to be contrary in manner you will have no problem finding opportunities.
At times like this I’m actively buying carefully selected stocks. To understand why have a read of the following, which I think is one of the best summaries I have seen on what I believe are the core ‘keys’ to successful investing: –
https://www.franklintempleton.co.uk/ft/max?page=maximsPublic
Category: Alternative markets, Betdaq, Betfair
