Different Makes a Difference

It’s not every day one learns about the demise of “God.” No, we’re not referring to a religious deity; we’re talking about Andy Hall, an oil trader recognized for his ability to successfully predict the direction of oil prices. While his career spans four decades, many people had never heard of Mr. Hall until the global financial crisis when Citigroup Inc. disclosed that he made $100 million trading oil in 2008. Given his trading success and background, Mr. Hall was nicknamed “God” of the oil markets.

There is a lot of literature about when to buy a stock, but little about when to sell. This is odd, because for every buyer there is a seller and selling a stock at the right time can have significant influence on portfolio returns.