In my many years working with the equities market, I have observed that there are specific characteristics or behavior common to most people who trade in equities market regardless of culture, background, orientation, and nationality.
I call these people as Odd lots because of their obvious odd behavior. Here is my list.
The Denial King: “O I’ve been losing a hell of money.” This is the most frequent dialogue that you will hear from this person but on scrutiny, he is saying the opposite. He is actually making money.
The Bragging King: This is the complete opposite of the Denial King. His frequent line “I made money on this and on that.” He loves to brag as if he is good at what he is doing, but looking closer, yes he made some but the bottom line is he is losing money.
The Greedy Gook: This type of people is never satisfied. He does not have any specific target on how much he would like to earn from his investment. He is overly positive or optimistic. The typical line, “It is still not time to sell yet. This company still has lots of power to kick in higher. You’ll see it will still go up.” This person normally ends up just sitting on his money and burning it in the process without putting them in his pocket.
The Ambitious Gullible: This one typically belongs to the Aunt Millie group. He does not know what he is going into except that he heard the Bragging King talking. This one always believed what he hears even from an unknown person who does not even know what a stock market is.
The Inquisitive Guy: This guy normally asked too many questions about the market including almost everything from economic outlook to economic data and down to the number of shares traded and even the market holidays. The worst thing is that this person is not doing any trades at all.
The One Way Bitch: This person is a perennial pain in the neck (..s). He always complains about almost everything including trivial matters like slow postal service (that delivers his statements which the company has no control of), and even blames you for his losses due to his bad decision. He is quiet though when things are in his favor.
The most common and frequent question these people ask you (almost) every time you talk to them is “What company (stocks) can you recommend to me that I can make sure profit?” My God, if I can exactly identify them, I must be very rich now and will not work to serve them. Moreover, I will NEVER tell them either!
Haven’t these people noticed that analysts and experts frequently change their forecasts?
Do you also have Odd lots in your workplace?