This is a Guest Post by AK of Fallible
AK has been an analyst at long/short equity investment firms, global macro funds, and corporate economics departments. He co-founded Macro Ops and is the host of Fallible.
What could Rick Rubin, legendary music producer, know about trading? Well, that’s what we’re going to find out in this video.
Recently, Rick Rubin, the legendary music producer who has basically worked with every superstar you can think of from 1982 to now, became active on Twitter. Now he’s frequently posting gems of wisdom we can all benefit from.
One of the latest ones went like this: Create a process that works for you. Because there’s no such thing as the “right” process.
It’s pretty easy to see how this relates to markets! Because I talk about it all the time… I always say stick to your own strategy. Follow your own rules. And there’s a reason for that… it’s because there’s no such thing as the “right” way to make money in the markets.
There are so many different ways — value, technical, you even got crazy people looking at the stars and trying to trade off that. Different things work for different people. The only “right” way to trade is the specific way that works for you. Learn from everyone, but just test things out, and use what works for you.
The same thing goes for all the stock picks all the gurus make. It’s great to listen to all of it, but only get in the positions that work for your strategy, which is hopefully a strategy strategy you’ve already picked that fits with your personality.
And of course this applies to beyond just trading. Rick Rubin’s world of music production, everyone has their own process. Deadmau5 isn’t doing the same thing as Pharrell. It’s very specific to the individual.
And as always, stay Fallible out there investors!
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***All content, opinions, and commentary by Fallible is intended for general information and educational purposes only, NOT INVESTMENT ADVICE.