The Fine Art of Doing Nothing | The Fly and Die IPO with Dave Landry

In this episode of the Market Misbehavior podcast, Dave is joined by veteran trader, educator, and founder of davelandry.com, Dave Landry. Recorded September 2nd 2026.

Dave shares his minimalist approach to the markets, explaining why stripping away complex indicators to focus on pure price action is the ultimate key to trading consistency. The conversation dives deeply into the psychology of patience—highlighting why highly successful professionals often make the worst traders because they are conditioned to always take action. We explore his specific money management rules for scaling out of positions, the mechanics of his TFM (Trend Following Moron) 10% system designed to completely sidestep devastating bear markets, and why market cycles are compressing due to rampant leverage. They also break down his technical playbook for IPOs, examining the "fly and die" pattern that recently played out in the SpaceX IPO.

📈 Topics Covered
• Why adding complex technical indicators is a trap, and how the ultimate enlightenment comes from stripping it all back to a blank chart
• The psychology of patience: Why highly proactive, successful professionals (like doctors and lawyers) often make the worst traders
• Scaling out for a "free ride": Taking half off, moving stops to break even, and letting the remaining position capture the long-term trend
• The TFM (Trend Following Moron) 10% system: A brilliantly simple moving-average rule to keep you out of devastating bear markets
• Trading the SpaceX IPO: Understanding the "fly and die" cycle and why you should never buy a new issue before its fifth day of trading
• Time compression in modern markets: Why excessive derivatives and leverage are shortening bull-bear cycles, making short-selling a necessary skill
• The dangers of "mental monetization" (e.g., boat shopping while in a winning trade) and how extraneous life influences destroy trading discipline

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The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.