Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Saturday, September 10, 2005


The market has changed. That it will continue to change is the only sure thing we can expect from the beast. One aspect I have had to deal with in the last year is in how individual stocks trade that are high-momentum, high jet-fuel in nature as well as those that are not. The vast number of hedge funds controlling some say a trillion, some say a few hundred billion in hot money throw increased volatility into the equation. It has made my job more difficult and frankly i have found it harder, meaning simply the stress and effort in position trading has increased in this low-return environment. With record short interest on the exchanges and more managers doing "true" hedging with ETF's versus individual baskets both long and short it seems the simple explanation is that hedgies are reporting monthly numbers and making for month-end window dressing all the more common. Volatility is here to stay. It has made the art of trading and my ability to manage a portfolio a more difficult. I relish the task.

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