Words to Remember
The Perfect Trade Only Exists in Hindsight 🧠
“Don't try to buy at the bottom and sell at the top. It can't be done except by liars.”
Why we ran it
For six months the market looked straight past a war that choked the Strait of Hormuz, with the S&P 500 up 10% while Brent rose more than 50%. Then oil crossed $100 and stocks fell four days straight. Nobody rang a bell at the top. Baruch's point is that nobody ever does.
From the September 11, 2026 issue: The Cushion Is Gone →