Flash calls his fund a 'micro-macro' fund because he looks for macroeconomic trends and trades them with microscopic amounts of money. This enables him to stay relaxed. Trading is a way of figuring out how things are working in the world, and as he’s not reliant on it for all of his income, he can afford to make some stupid mistakes. Which he has done plenty of.
I’ve been straining all my nerves to stay optimistic about equities. But I’ve had some jarring lessons in being too contrarian, and failed to judge the steepness of the sell-off.
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