Matt Levine, Columnist

Some Wamco Trades Were Better Than Others

Cherry-picking, quant contests, hairy private wealth clients, in-seat promotions, a DJT business model and the head of mar

November 26, 2024 at 7:26 PM UTC

By Matt Levine

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Programming note: Money Stuff will be off for the rest of the week, back on Monday. Happy Thanksgiving!

It is nice, in investing, to have a one-day lookback. If you could buy a stock first thing in the morning, see how it does over the course of the day, and then at 4 p.m. decide either to keep it (because it went up ) or to cancel the trade (because it went down) — that would be nice, for you. If you plan to hold the stock for a year, it wouldn’t be that nice — one day of returns probably won’t affect your overall performance that much — but it helps.1