Bloomberg has a profile of asset manager Deepak Narula today. His fund is up 34% this year and +500% since 2008.
Here are some of the takeaways.
1. Don’t fight the Fed (or any other central bank)! The SNB is still holding 1.20 and Draghi was right when he said not to short the euro
Narula has built his recent run on predicting how the Federal Reserve, the Obama administration and financial industry would react to the worst housing crash since the 1930s.
2. Look for trends, stop trying to pick turning points!
As a trader, he was “always very quick to spot trends, and sometimes much quicker than people who were spending a lot of time on the same question.” … he applied those lessons, including the dangers of buying when the rest of the market has to sell.
3. Get in trades you believe in and make sure you have the flexibility to stick with them!
“I look back over the last 10 years and that’s the one regret,” Narula said. “Even though we had the right idea, we were just way too early. Timing is everything.”
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