Always Have A Plan B

As traders we know its important to have run various ‘what if’ scenarios’ so when Mr Murphy (Famous for Murphy’s Law) shows up we aren’t happy, but we are ready. Today, I had a full measure of Murphy’s law, even though the day started out pretty well:

Sunrise over ORD with a fancy throwback American Airlines 737 loading up for a trip to LGA.


Here’s a glorious shot of New York City as we fly into LGA on a perfect sunny day.


Unfortunately, as perfect and uncrowded as the sky over NYC was, the traffic at LGA was a nightmare. Here’s a look at the mile-long traffic jams heading into and out of LGA.



The crazy wait for cars, buses into Terminal B, C & D is due to the $5.3 billion overhaul of LGA and sadly, the overall project will only wrap up in 2024 (On a side note, as a traveler that flies in and out of LGA twice every week, if they can’t fix the traffic right away, this airport will loose 50% of its passengers, as the wait is simply impossible).

My car to Englewood Cliffs for CNBC could not reach me through this traffic. Even if it did and I got in, I’d be in that car for over an hour to travel the 400 meters out of the airport and would thus miss the entire Halftime Report show on CNBC. So, I began the walk out of LGA heading to Hertz to rent a car as the off-site location made it a better choice as I’d be able to avoid the core airport traffic. As I walked over the Hertz I called Number One Gold to book a car. That accomplished, I arrived at Hertz, about 1 1/2 miles from the terminal. Once again Mr Murphy reared his ugly head, as when I got to the desk at Hertz they hadn’t received my booking.


The clerk at Hertz said that as they couldn’t find the booking yet and it might take an hour to show up, the walk up rate was $215 for the day. I was surprised that was more than double the rate quoted. So my plan B was to book a car through the Hertz website through my phone. This accomplished, I gave the clerk my confirmation number and shortly drove off for the wilds of New Jersey. Luckily, the rental had an EZ Pass, so I was able to save precious minutes on my way to Englewood Cliffs.


If I had stayed at LGA and waited for my car to come around, or hopped a taxi, I’d have missed the show completely. Its funny how similar your reactions and plan B’s are in trading/investing. When Mr Murphy shows up you can’t just hide, you have to deal with it. Nobody likes selling out of that losing position, but dealing with it and moving on are what this game (and life) are all about. It really is about how you deal with adversity and how quickly you move on to plan B.