Time and time again people think I work at Goldman Sachs or I’m the Sach in Goldman Sachs. Yes, I’ve heard it before. Truth is, I’m a street wise stock trader who makes big bets. I don’t need to have worked at Goldman to make big bets on margin and blow up a firm Corzine style. I know better than that.
No, nobody needs to tell him to make money you need to have the guts of a God. I listen to my feelings and nobody else can tell me different. If I listened to the talking heads I’d never make a move one way or the other. Cramer, no, although I love him dearly and want to sing in a band with him or go running through the streets of New York with him yelling booyah!
The only connection I have with Goldman Sachs is grew up in the Brooklyn’s Linden Houses with Lloyd Blankfein. I lived in the apartment next door to little Lloyd and used to whip his ass at chess nearly everyday. Truth.
I’ve been trading stocks for over twenty years now and still in business, through the run up in stocks like Pets.com and through the collapse of Lehman Brothers. If I can make it through those two periods then everything else is gravy. What’s the one secret to trading: Do the opposite of what everybody else is doing. Yes, once it’s known it’s a little too late to make the big money. That’s the truth. What’s hated now you should look at buying up in droves. Back up the truck on what everyone else is getting rid off. If it stinks right now it will probably smell nice in six months.
(Next week Johny Sach writes about the time Warren Buffett shared his coke with him)