QOTD: On the Word “Bet”

Justin Mamis, author of the seminal book When to Sell, writes the following:

“We’ll try, but it is getting more and more difficult, and perhaps even too dangerous, too, to take a longer-term view as the market keeps lapsing into short-term comments and forecasts, and the word “Bet” is frequently used, as in, “How are you betting today?” from a TV interviewer or, without needing to be asked, an interviewee might define his position as “We’re betting on the upside,” or, as another example we heard recently, “The best bet today is the financials.”

Once you know the day’s activity is that they’ll be busy betting, you can’t stop hearing them, like bugs banging against the window screen.”

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