Name: Bull Market & Bear Market Doesn't Exist w/ Ryan Holiday | You Made It Weird
Uploaded: 2022-10-11T22:00:14.000Z
Description: Watch the stand-up comedy video 'Bull Market & Bear Market Doesn't Exist w/ Ryan Holiday | You Made It Weird' from Pete Holmes on Comedy Buff. Published 2022-10-11. Transcript available.

Watch the stand-up comedy video 'Bull Market & Bear Market Doesn't Exist w/ Ryan Holiday | You Made It Weird' from Pete Holmes on Comedy Buff. Published 2022-10-11. Transcript available.

The famous line from the Stokes is that it's not events that upset us, it's our
opinion about
events. There's another quote, it's not what happens to us that torments us, it's
our thoughts
about. It's probably a retelling of that. The idea that it just is, right? When
I talk to hedge
funds and stuff, I go, you know a bull market and a bear market do not exist.
These are made-up
things that we've come to describe a made-up thing, which is the economy. The
market doesn't
exist either. It's just people doing stuff. Then you've made up a concept, and
then you've
made up whether it's a good version of that concept or a bad version of that
concept, and
then you pull your hair out. It just exists. It just is. Obviously, you're not
going to
be good at trading if you don't understand what these things are, but
understanding that
they are abstractions should help you actually be better at it because then you're
like, "Oh."
It's different between a hedge fund and you're a value investor. A value
investor just needs
the market to go up, but a really great investor can also make money when the
market goes down.
There is no positive or negative. It just is, and you take advantage of it one
way or another.
That's obviously easier said than done. It's the project. I need it to be a
certain way,
or it should be a certain way, or it's unfair if it's a certain way. That's the
source of the
suffering or the distress, but it does not exist.
I think it's Chinese Zen. It might be Taoism. It says, "The great way is not
difficult for
those who have no preferences." I'm just like, "Oh, that's the whole thing."
This is pulled
right out of my own brain. I've said it before, but I want to hear your
reaction to it. There
was a flight out of Montreal. It was all comedians, and the flight was delayed
for something like
six hours or something. It was a thick delay. It was something like a 6:00 AM
flight or something,
so none of us had slept. I understand. Some people got mad. I remember they
were mad at Delta,
and I was like, again, like you with your kid. I don't know why that day Budapete
showed up,
and Budapete was like, "There is no Delta. There's this plane." You could argue
that noticing a pattern
of reliability or whatever, and employees and a fleet of planes, we agree to
call it Delta,
but like your bull bear. It's not real. It's just this plane. It's like when
you get mad,
and if you get mad at the gate agent- You're going to yell at this person as if
that's Delta.
That is, that's like Equus thinking a horse is, you know, God. It's like you're
just
picking one point of the thing and being like, "You will be Delta."
Yeah. Yeah. I try to think too, like, so that means also like, okay, I'm not
going to tell myself
this is a bad thing, but then that also means that you have the power to tell
yourself it's a good
thing. So you could be like, this is a fucking adventure. I'm like, what are
200 comedians
on the same delayed flight? What's that going to look like?
Buddy, we had a great time, and we've both been alive long enough to know you
don't even remember
the flights that are on time. Yeah.
The story is the six-hour delay, and we did have a- I had fun with a lot of
those people,
and I've taken that flight so many times with no problem, and those are gone.
They're shredded
as they're happening. Maybe we said this last time, but I'd like to call it
nostalgia for the present.
If you can, if you can somehow have- Nostalgia for the present.
The quality of nostalgia. We love talking about book titles. I have that
written down
as a possible book title. Nostalgia for the present. That is interesting.
Is it good? That sounds like one of those Buddhist things that means nothing
and everything at the
same time. High praise.