Bull Market Things
It's a Bull Market you know...
“It’s a Bull Market you know”
- Old Turkey, “Reminisces of a Stock Operator”
This is such a simple and yet timeless piece of advice.
In the investing book “Reminisces of a Stock Operator” (an all time great read), Jesse Livermore introduces us to an older trader he works with nicknamed “Old Turkey”. Old Turkey doesn’t talk much, but he’s famous for 1 memorable phrase:
“Old Turkey would cock his head to one side, contemplate his fellow customer with a fatherly smile, and finally he would say very impressively, “You know, it’s a bull market.”
Time and again, I heard him say, “Well, this is a bull market, you know!” as though he were giving you a priceless talisman wrapped up in a million-dollar accident insurance policy.”
In one story, Livermore recounts a regular coming to Old Turkey with a tip to sell his shares of Climax Motors: “now is the time to take your profit and get in again on the next dip”.
But Old Turkey simply brushes off the young man’s advice to sell and try to buy back lower:
“Why, this is a Bull Market!” The old fellow said as though he had given a long and detailed explanation…
“My dear boy, said Old Partridge, in great distress ‘my dear boy, if I sold that stock now I’d lose my position; and then where would I be?”….and, it’s a bull market you know!
I’m reminded by this timeless phrase often, especially with how much noise is out there in the financial media and on social media. Every day new market Bears emerge, trying to call “the top”, or claiming that we’ve gone up too high too fast and a sharp pullback must be coming any day.
It’s easy to be influenced by all the different opinions you see, but my advice is to tune out the noise and focus on your strategy. Don’t lose sight of the Big Picture.
And remember, “this is a Bull Market, you know!”
Long Term Investment Portfolios
Active Trading Portfolio
HOOD
New highs!
We are now up +109% on HOOD from our May 7th entry!
All buy and sell alerts are posted in real-time in the Marlin Capital Live Trading Room.
APH
Winners win.
We are now up +35% on APH from our April 25th entry.
ORCL
1 of the liquid AI leaders. When you have a winner like this, there is nothing to do but hold.
We are now up +14% on ORCL from our June 24th entry.
OKLO
Strong day for OKLO finishing +5.6%.
We are off to a good start here, up +6.4% from yesterday’s entry. First target = $70.