Here’s a pop quiz to figure out if you’re cut out to be a trader:
For all those people who have followed me to this forum or EAM since my former days a year back at Cathleen’s Corner, who consistently tell me all the time that you really-really want to be a trader — here’s a quick pop quiz you can take to see if you’ve got what it takes.
When you heard about the earthquake in Haiti, what were the first three things that popped into your head?
I’m hoping the first thing was to say a prayer for all those affected by this disaster.
Followed by a decision to make a donation.
Followed by an urgency to figure out which publicly traded companies stand to make the biggest profit as a result of the disaster.
It’s not crass — it’s just business.
Donations are coming in.
They’re talking about raising hundreds of millions of dollars for the cause.
So what are they — and will they be — buying?
Construction supplies to raze the area?
Infrastructure building materials?
Transportation to transport the goods?
The list of possibilities is infinite — now do your due diligence.
Read the papers and watch the news for specifics.
Do research on what companies soared as the result of similar disasters.
Do your homework, and then answer the million dollar question…
Are you cut out to be a trader?
The usual disclaimer: Do not base any of your investment decisions on anything you read here. Do your own due diligence — or at least enough research to pick the right professional to do it for you.