My worst marketing decisions are/were usually a result of getting greedy.
Back in the day when I was still serious about farming, I sold all my soys on a very strong market that looked toppish.
Sure enough, it was.
When I sold, I called my hedging broker and said I sold my soys and I want to buy puts.
No, he said, you want to buy calls.
I said, no, I think things are gonna collapse.
Se he got me puts, deferred months, which were very reasonably priced.
Sure enough, the market started to slide and my puts made me look like a very unusually brilliant genius.
Until it turned the other way.
No problem, I thought, this things still gonna bust.
And held on. And held on while they just kept sliding.
Before it was over, I had left the initial 50 or 60 cent gain on the table and lost my premium which, adding insult to injury, ended up taking about 25 cents off the sale price of my soys to boot.
I provided the living example of the marketer's adage - They sometimes feed the bulls, but they always slaughter the hogs...
Back in the day when I was still serious about farming, I sold all my soys on a very strong market that looked toppish.
Sure enough, it was.
When I sold, I called my hedging broker and said I sold my soys and I want to buy puts.
No, he said, you want to buy calls.
I said, no, I think things are gonna collapse.
Se he got me puts, deferred months, which were very reasonably priced.
Sure enough, the market started to slide and my puts made me look like a very unusually brilliant genius.
Until it turned the other way.
No problem, I thought, this things still gonna bust.
And held on. And held on while they just kept sliding.
Before it was over, I had left the initial 50 or 60 cent gain on the table and lost my premium which, adding insult to injury, ended up taking about 25 cents off the sale price of my soys to boot.
I provided the living example of the marketer's adage - They sometimes feed the bulls, but they always slaughter the hogs...
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