ITPM Flash is a video series from the Institute of Trading and Portfolio Management (ITPM), founded by Anton Kreil, that provides market insights from the Institute’s senior trading mentors.


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ITPM Flash Ep43 – Summary

In this episode senior trading mentor Ed Shek is taking about the market and “fear of missing out (FOMO)”.

There is a lot of “happy talk” in the market, James Dimon CEO of JPMorgan Chase recently said in an interview. Equity indices are at or nea all-time-highs, we get told earnings are great, everything is perfect. But if you take out the big 5 tech companies, earnings haven’t been that great and 395 out of 500 S&P stocks are underperforming the benchmark.

From ITPM’s Flash Youtube Video

Ed mentions that we have seen kind of a “everything rally”, so every assets are going up. We also experience a lot of “happy talk”, everyone looks to be bullish at the moment. Even the junk bond market, with relatively low spreads suggest, that there is not a problem at all. On the other hand, we have seen a lot of gold buying which is unusual when equities are at all time highs. Another very unusual phenomenon is utilities sector being the best performing sector in recent months. Normally utilities get bought as a hedge during recessions or downtrends and not when equities are at all time highs.

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From ITPM’s Flash Youtube Video

ITPM Flash Ep43 – Conclusion

Ed Shek is telling us to be cautious at the moment and not to get caught by FOMO (fear of missing out). There are great stocks which combine both great fundamental and great momentum. As long / short portfolio managers we need to have short at all times. In times of great upwards momentum we might structure our short trades longer dated. If you struggle to find good shorts, you can also hedge out with indices ETFs.

About me

The Institute of Trading and Portfolio Management (ITPM), founded by ex-Goldman Sachs trader Anton Kreil, helped me on my journey to become a profitable retail trader

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Review of ITPM Courses

The courses of the Institute of Trading and Portfolio Management helped me massively to become a profitable retail trader. I genuinely believe that ITPM provides the best trading education on the market – but not everything is perfect. Find out more in my reviews

Results of my Mentoring with Anton Kreil

In September 2022 Anton Kreil asked me and another one of his former mentees, if we want to do a webinar with him. After the Thailand class in April 2022 and the following mentoring with Anton from Mai to July 2022 I thought it was great opportunity to show what I have learned and how I have progressed

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ITPM Thailand Mentoring

After completing my first ITPM Course, the PTM 1.0 (the predecessor of the PTM 2.0), I knew I want to do a mentoring. After a thorough analysis I decided to attended the April 2022 Thailand mentoring class

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