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WY Dreaming

8/4/2020

There are so many great memories. There are different fish I recall, especially the bigger ones. There are places that have produced great fishing along the 50 miles of the river. The challenge, and a gift, is to learn the river again each year. The reason this is necessary, is the river physically moves its flow. This freestone tailwater river created due to snow melt and high water is different most years. You know it is coming, and that is not unlike the market.

The Snake river has a dramatic drop in elevation. Each year the massive snow melt from the Tetons and the Gros Ventre Range flow into the Snake. High water and fast currents move the gravel bars around and different threads of the river. This changes the places that the native Yellowstone and Snake River Fine-Spotted Cutthroat Trout eat and spawn. Again, not unlike the market.

There are certain things that do not change, are consistent. Trout have certain characteristics. The market has certain characteristics. Trout do not like swim in the current more than necessary. Trout like cooler water. Trout need oxygen rich water. They like hiding behind structures out of the current. There are certain flies, terrestrials, and baitfish trout like. The more one studies these factors, the more likely one is to experience success in fishing for them.

There are certain things one can study about the market as well to improve the opportunity for success. I continue to study both trout fishing, and the market. I am sometimes surprised by the market. The longer I study it I have found that human behavior drives markets most of the time. This can be observed and used to enhance the results of investing. I have been doing it professionally for 36 years.

Each week I approach the market with a fresh look. I review certain things weekly, and others daily. There are processes we do at Vista Investment Partners on a monthly basis. August begins, and the cycle continues. Things have changed the last couple of months. Change is to be expected.

There are times when the fishing is better. Rainy days for example. Fish cannot see as well when the surface of the water is disturbed by rain, great time to fish. I mentioned fish enjoy cool water. Hot days are not as likely to bring big results fishing. The market again has similarities.

A very good strategist once said, patience is a scarce commodity on Wall Street. It is a necessary virtue for successful investing. My observation currently, it is a good time to exercise patience. I believe it will be rewarded.

Please contact us if you have questions about how we are positioned tactically.

Ascend wisely…