Derivatives are the Financial Weapons of Mass-destruction…
…Well, perhaps. That is what Buffet alluded to anyway.
Every week or two, I will receive a phone call from someone from out of the blue hawking some financial market product ( “opportunity of a life time”). Typically centered around either Retail Forex Trading or Binary Options Trading…. often with a very well used and worn sales script straight out of a Wall street Greed film (think “Wolf of Wall Street” or “Boiler Room“), trained to basically not let the targeted caller hang up nor say ” no” along with repeating my name ad nauseum (some worn out sales technique gleaned from some eye rolling hyper mega sales training course.)
Guys, I’m just not flaming interested.
When they refer me to their site, they go to great pains to mention that the profit graph is from real live data. Yes, results which have typically been “Back tested” to historical data, that was once live and curved fitted to blooming death. Having been a past board member on with the Society of Technical Analysts of New Zealand (STANZ). I have not ever seen a readily available trading “robot”, “Expert Adviser / EA”, mechanical method, or some other newfangled shoddy algorithmic trading package survive for more than 2-3 years before market behaviour sufficiently changes causing “The System” to go into damaging draw down. No amount of blooming “Money Management” (If I hear one more time the cliched phrase… “Money Management is the key”, I’m going to go full leaf monster / mega rage face!!) or “Pop Psychology” is going to save your capital account from a nice parabolic down swoop to zero. (I have since, somewhat forcefully, resigned from STANZ and suspended all thought of ever short term trading the financial markets)
I’m not quite sure how these blokes got my details. May be it was a security breach at TD Ameritrade many years ago. From the two sales vultures I’ve managed to extract a confession from, they claim they got my details from some Angle Investor site. They won’t divulge as to what Fan-dangled “Angle” Investor site this is. Heck I don’t know what an “Angle investor” even is (I ought to maybe give them some Acute discomfort and stick a Protractor up their blooming Obtuse backside and provide them with my Angle of things on what I think of their business practices)