I've been reducing my long positions for a while, from 3x leverage in March 15 to only 1.1 last week. Right now, I'm about 2x leverage due to tonight's major sell-off. Yesterday, I was at 1.4x leverage.
The US economy has been downgraded to AAA negative by S&P and suddenly we saw the Dow sold down by 230 points at one point.
I remember UK being downgraded, Portugal downgraded, Ireland downgraded and the market recovered after an initial sell-down.
We are right on track to finish 2011 on a high. There's no where else to park your money because yields are still very low in developed markets. The yield curve is steep. Producer price index is still benign in the US.
I am quite tired of working. The higher I rise, the more I have to persuade people, deal with them. I'm not a very funny guy. Not a very likeable person. The world is superficial. It is swayed by humour and eloquent speeches. I'm neither. I go for results. I conduct myself with the best of intentions. If the world cannot see it, I cannot help it.
I'd rather not be working several years down the road. Perhaps I should start my own business, doing investment consulting. I'd like to wake up everyday to a steaming hot cup of coffee, reading papers till noon. Thereafter, I'd be seeing some properties and collecting some rentals.
Pearl Bank, MacPherson Green just missed my grasp. Perhaps I should be more hard working on this aspect although I think the window has closed. There will be another window. I have to be patient and learn in the meantime.
