Thoughts on Investing

 Thoughts on Investing--from Kid Dynamite

Know what you don’t know.
What does this mean?  If you think you’d found free money in the market, well, there’s probably something that you’re missing.  There’s probably something that you don’t know – try to figure out what that might be.
There’s another meaning of this rule, which came to mind recently in my post about Natural Gas Futures.  I observed a well known quirk in the natgas futures curve, deduced an investment thesis from it, and asked my readers for input.  It becomes clear pretty quickly, in reading the comments from some readers who clearly know a lot more about the subject than I do, that there’s no easy answer.   There’s no magic get-rich-quick bullet, and if I want to develop a trade idea to take advantage of any natgas thesis I might have, I’ll have to do a crapload of work to understand the lay of the land in that industry.  I learned very quickly what I didn’t know:  I don’t know VERY MUCH about nat gas.