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The Heart of the Matter

By

Hook 'em Horns!

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I make my living off the evening news
Just give me something-something I can use

(Don Henley)


Hi Toddo,

I recently joined Minyanville and very much enjoy reading it. Moreover, I am regretting that I did not discover it a long time ago (I used to read with great interest your diary on Realmoney and was very disappointed when you stopped writing there).

I will confess that even though I've been investing for over 7 years and reading RM since '99, I find it hard to follow the postings in Minyanville at times. Any chance that the disclosure can be changed to include long/short because it is very hard to tell from the posting itself whether the Prof is leaning for or against a stock. Also, I've seen several postings from you that says "position in metals and energy" but did not get any specific trading ideas.

I hate to think I'm the only novice reading the site. Tell me that's not true ;)

Thanks,

Minyan RJ


MRJ,

Hello friend, and welcome to the 'Ville!

We disclose when we're involved in a particular situation and we'll often 'spell out' what we're doing in the context of education, not advice. I've long believed that the shelf-life on a "guru" is limited at best--nobody is smarter than the market--and, over time, our goal is to share our collective processes with the hope that they add to yours.

That doesn't mean there won't be ideas--we're chock full of thoughts every day--but what works for our unique time horizon and risk profile may not mesh with yours. That, in a nutshell, is why "blanket advice" has never been the vision for the 'Ville. It's the whole "teach a man to fish" thang.

I will also offer that the market has changed since the wild and wooly days of yesterday. For one, volatility has compressed as a slew of capacity entered the hedge fund space (those two dynamics may not be mutually exclusive). There's been a "crowding out" of relative edges as funds increase the size of their bets to make up for the lack of movement.

As one of the Ten Trading Commandments is to adapt our style to the market, I've shifted my approach to a two-tiered methodology. I've been trading the metals and energy (with Hoofy) in the "longer-term" bucket of my book (for quite a while and they're pretty extended) and actively trading the other tranche when--and only when--I discern an edge. As it stands, I'm long some pharma and SunMicro (SUNW) for a trade vs. short a spate of financials (via spring puts) as I eye double resistance (and a flat yield curve and structural smoke and ...) at BKX 106/XBD 200.

Finally, while the 'Ville has been around for more than three years, I still think you've gotten involved in the early innings. We'll be unleashing our new and improved digs in the next coupla weeks, adding fresh flava on the content side and getting a bit more granular with some of our ideas. It's an exciting time for our ever-expanding community in what has become, in many cases, an acrimonious financial environment.

Minyanville is more than a business--it's a mindful awareness of the world around us, from the murky depths of geopolitical tension to a conscious awareness of the important stuff. We're here to make money, we know, but we also know that net worth and self-worth are not one and the same. And as the purpose of the journey is the journey itself, we intend on getting there together.

Good luck and, again, welcome to the Critter Nation!

Toddo

R.P.

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