In a 2009 bear's defense it was unprecedented Government intervention that lit the fuse under the markets and led us here. I remember reaching a point myself where I realized that policy was driving the markets more than any other factor and quit actively trading completely. You can be right but if the Feds take the other side of your trade you will be bragging about it to your fellow corpses in the graveyard.
Yep. At the time, I was reminded of a quote from The Iliad, which I can't find anymore. It was something to the effect of, when the gods come down to earth to meddle in the affairs of mortals, the only ones who win are the ones whose side they take.
> In a 2009 bear's defense it was unprecedented Government intervention
The novel part was the purchase of government-sponsored enterprise (GSE) mortgage-backed securities (MBS), and GSE debt securities. The Fed's balance-sheet expansion, interest-rate regime and their effects on the market have precedent [1].
