Not all patterns are real, and sometimes it’s a really bad idea to react as if they were. Financial patterns are a prime example. You don't have to listen to the financial press for more than about 10 minutes to hear a talking head explain that “the charts” are indicating such and such, or that the recent trends in the price of whatever indicate a looming recession or a vibrant economy. There are at least two problems with these sorts of “patterns.”
Two of my favorite lifetime pursuits are: (1) matching wits with brown trout on local streams, and (2) seeing clients reach their financial goals.
When you’re on the water, it's tranquil. It’s hard to think of anything other than the small “fly” on the end of your line that rides softly along the current. In my fishing-induced meditative state, sometimes my thoughts turn to what makes some investors more successful than others