, Columnist
Christmas Lunch Hedge Fund Is Bad for Your Wealth
Bold contrarian predictions - made at boozy lunches or otherwise - can sometimes work out very well. The problem is, most of the time they don’t.
Enjoy your Christmas lunch. Just don’t talk stocks.
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Contrarian trades are where the big money is. Investors who hold their nerve and are greedy when everyone else is fearful, and vice versa, can make huge bucks. The nature of the market, and its tendency to overshoot, more or less guarantees this.