Mike
๐ค SpeakerAppearances Over Time
Podcast Appearances
Whereas a weather system, the further you go out from, you can tell what the weather is going to be in 60 seconds, because you can look out your window and go, that's what the weather is going to be in 60 seconds, or for now, or rain.
But with weather systems, the further you go out, obviously, the far, far, far less predictable it gets.
And I presume there comes a critical point beyond which you
statistically you just cannot tell what the weather is going to be like at a given place in three months from now other than historical data but my point is that we are stock pickers and the deeper you you can go as intellectual as you like and get it wrong
And you can be as carefree as Raven, the chimp, and get it right.
So the point is you've got to take the macro lessons and roll them in, which is diversify and go long.
And some of them will be right and some of them will be wrong.
But you know, at the time that the chat room of choice for anyone in stock investing, if you were from outside of the US, because they suspect if you're in America with some AOL chat room, but the chat room of choice was Yahoo Finance.
So whatever the company was, you went in
typed in NKE, went to the Nike area and there was a chat room there, which was just a long stream of comments that varied in quality, as you can only imagine, because free chat rooms don't always attract the best behavior.
The founding CEO of Whole Foods was someone I was interacting with.
His name is John Mackey.
And not to do the man a disservice because I'm 99.999999% certain what I'm about to say is correct.
but i'm acknowledging it mightn't be but i'm gonna say it's one in one million chance i'm wrong but he was going on to the yahoo finance whole foods chat board and totally pumping the stock under a different uh a different moniker like he had a handle or an avatar or whatever and certainly wasn't john mackie founders of of finding ceo of whole foods
It was like, my name is Jeff and I'm in my mom's basement and here's a great stock.
But it was actually he was I remember the messages that John was sending about Whole Foods.
But I remember the time thinking, how does he have time to do that when he was caught?
And I don't know really what happened after he was caught.