The financial market is no respecter of persons. Each trader rises or falls based on merit and merit alone.
Consider the frequently observed attitude of the proud and famous. Given their rise in the social ranks and subsequent elevated status they ostensibly deserve to be treated different. After being offended at someone’s failure to treat them with respect they may condescendingly remark, “Hey! Do you know who I am? How dare you treat me like this!” Upon discovering the true identity of said famous person, the perpetrator usually professes a sincere apology and modifies their behavior going forward.
After getting hosed a few times or treated unfairly by Mr. Market I too am tempted to bellow, “Hey! Do you know who I am?” But, alas, such an exclamation falls on deaf ears. No, the market doesn’t know, nor does it care who I am. It doesn’t care about the size of my bank account, my voluminous library of trading books, the time and effort I’ve put forth or years of experience. My shins will get kicked in just as swiftly as the next guy. The market doesn’t care about my family name, my background, my connections, or my social status. It simply provides a playing field which rewards or punishes based on skill.
I’m just one of millions of nameless, faceless traders.
For related posts, readers can check out:
Jim Cramer and the Grueling Routine
The Two-Handed Economist
A Lucky Conundrum
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