What’s a secret skill or ability you have or wish you had?
I wish I had the ability to crush the atock market everyday. The stock market or markets more precisely offer individuals unlimited opportunities, but are exceptionally difficult to predict.
Being able to predict the stock market at even 70% accuracy would open the door to virtually unlimited wealth. That wealth could then be used to fix social and political problems in society.
Warren Buffet is the closest thing we have to this type of predictability. That is why my largest personal holding is Berkshire.B (if only my parents had bought Berkshire.A sheeesh).
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” — Warren Buffett
This ability has been imagined in many different movies, but my favorite depiction is Limitless with Bradley Cooper.
More recently, The Wolf of Wall Street captured this ethos of this idea, but of course by questionable and fradulent means. I always use this anecdote (without the f bombs of course) with my students.
Jordan Belfort: Brad, show them how it’s done. Sell me that pen. Watch. Go on.
The Wolf of Wall Street
Brad: You want me to sell you this fucking pen?
Jordan Belfort: That’s my boy right there. Can f****** sell anything.
Brad: Why don’t you do me a favor. Write your name down on that napkin for me.
Jordan Belfort: I don’t have a pen.
Brad: Exactly. Supply and demand, my friend
The Big Short starring Christian Bale as Michael Burry exemplifies this quality. He was one of a very select few who forecasted the 2008 market crash, betting big against a bull market.
Ben Rickert: If we’re right, people lose homes. People lose jobs. People lose retirement savings, people lose pensions. You know what I hate about f****** banking? It reduces people to numbers. Here’s a number – every 1% unemployment goes up, 40,000 people die, did you know that
The Big Short
Whatever the situation, this would be a valueable skill for sure. Of the Gods of finance decide to strike me with a savant ability to pick stocks, I certainly would not mind!
Thanks for reading The Lifelong Education Blog! I have to say I am enjoying the crypto run. How about you?
Discussion Questions
1. What are your favorite stock trading movies?
2. Why do you like them?
3. Do you think bitcoin will reach $100,000 a coin this year?
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