I was listening to Barry Ritholtz being interviewed on Bloomberg Radio the other day. What an interesting man! He stated that the financial markets have always been described by this axiom: The market hates uncertainty. Ritholz argues this is wrong or at least misguided.

The market is, almost by definition, always uncertain, albeit some days more than others. Trading is just that—uncertain—and that’s how people make money (and lose it). So would a trader be a better trader if he embraced a different precept like “The market is uncertain and I love that” instead of repeating “The market hates uncertainty”?

Isn’t life the same as the markets? We are always looking for the chaos to end, so the smooth sailing can begin; but unfailingly, the chaos returns. We say things like “Are you kidding me? Not again!” Unlike the market, our chaos doesn’t usually make us money but it does something better—it makes us stronger and more resilient. It makes us an even better version of ourselves then we were before. So I say “Chaos, bring it! I am not afraid of you.”

With Gratitude,


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