My favourite word as a kid was "antidisestablishmentarianism", which I thought was the longest word in the English language. At the time I thought it referred to some biology thing, such as a disease. But its meaning boils down to "the people against the people against the government" and perhaps it was first used by Henry VIII to refer to those who were against him for wanting to break away from the Catholic Church. I have to coin a new word now, which refers to me: antidisestablishmentcontrarianism. Don't try to disassemble it with the prefixes and suffixes. I'll tell you what it means because I coined it. It means the people against the people against the markets. In other words, I hate people who consider themselves contrarian investors.

Think about it. You hate them, too. They are on television, in newspapers and finance websites, they call you up with their smug advice. "I make my money going against the crowds," they say. As if they are above the mindless masses, the one-eyed cyclopses running amok in mad mobs all over Wall Street. To be a contrarian investor, you have to assume people are stupid. You also have to assume that the masses, in general, lose money. Furthermore, you have to assume that you have the ability to rise up above this state of retardation and be a beacon of intelligence that knows more than everyone else.