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Resolve's Gestalt University

Jan 25, 2021

This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day.

This week we riffed with Patrick Ceresna of Big Picture Trading, fellow podcaster and co-host of the popular shows Macro Voices and The Market Huddle. His trading framework combines a seasoned, top-down macroeconomic perspective with deep knowledge of technical analysis and prolific use of options to express his market views. Our conversation included:

  • Living in the trenches – the differences between trading and investing
  • Stress-testing ideas and the humility required to make a living as a trader
  • Sharpening macro hypotheses through weekly conversations with bright minds
  • Technical analysis – an incomplete yet powerful tool
  • Analyzing money flows and sentiment indicators
  • The flexibility and asymmetry offered by options
  • Sizing positions and the importance of timing – don’t fight the trend
  • Gold, Bitcoin and Giffen goods – market psychology at play in the era of easy money

A great communicator, Patrick shared stories of his formative trading years and drew a compelling analogy between the dotcom euphoria and today’s “everything bubble”. He also brought along a few charts to walk us through his methodology and some of the macro themes he is currently focused on.

Thank you for watching and listening. See you next week.