HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
[FOXX] Fox Studio Fund week 2 report.
Price history chart (courtesy KaiGee)
Apparently my last two attempts to post a report have been scrubbed because I was talking about "price movements" when I should have been talking about something called box office potential". In my defence, what I was attempting to communicate to investors in the fund was which stocks we had taken positions in the previous week. Which I have always seen as the purpose of a report. Aside from listing the actual stocks and mentioning the fact that my strategy is to alternate long/short to maximise profit I still can't understand what I did wrong, particularly in light of the fact that these were historic transactions that had already taken place. It's not as though I was flagging up what I planned to do next. Frankly I wouldn't even know what I would do next as I learned many years ago that any attempt to predict the market is a shortcut to the poorhouse.
So much for what I was apparently doing, now on to what I should have been doing: "discussing box office potential". Considering that I do not work in the industry and that people a lot more informed than me have been badly burned betting on box office returns, based on something as ephemeral as "potential", I think that I will give that a miss. My background is in trading so that is how I will be manaqing the fund, my personal HSX port and my real life portfolio.
So I guess in future my reports will consist of a more general rumination on trading style. As I said earlier predicting markets is for fools. The smart investor waits until they have all significant information required to make an investment and then goes 'all in'. The secret is knowing when to jump in and when to jump out again. I'll leave predicting box office numbers to those either more informed (or more foolish) than me.
Tag(s): FOXX
