A perfection of means, and confusion of aims, seems to be our main problem – ALBERT EINSTEIN
In Part one we talked about how outlier events in the markets play such an important role in our final performance, yet how few are really aware of this fact. These events come out of nowhere, yet the experts [...]
A perfection of means, and confusion of aims, seems to be our main problem – ALBERT EINSTEIN
Malcolm Gladwell in his book Outliers says an “outlier is a scientific term to describe things or phenomena that lie outside the normal experience”. In Florida for example, you can expect most days during the summer to be somewhere [...]
It seems to me that back testing trading strategies before trading them is becoming increasingly more popular these days. The evolution of the “sophisticated” trading platform now offers investors access to “back testing strategies” as well as fast and cost effective execution. The “do-it-yourself” fad is on the rise, and who can cast blame when [...]
I think some traders and investors have a difficult time dealing with uncertainty because they basically think they are right, and are afraid of being wrong. After all, no one likes to be wrong about something they have researched out and committed to. The problem with this posture is that you are more reluctant to [...]
This is an interesting short video from YouTube which covers some of Ben Bernanke’s forecast from 2005-2007, just before the crisis took us hostage.
Now, I would assume that Ben Bernanke has a research staff, and access to information, that would dwarf our capabilities, not to mention he can call anyone he wants on the phone [...]
Those that have knowledge don’t predict. Those that predict don’t have knowledge – LAO TZU
What criteria did you use to choose your latest investment? A better question would be, are you sure that you even understand the criteria?
For example, let’s say that you chose a mutual fund based on your advisors presentation of how well [...]
THE Lloyd’s Prayer
Our Chairman,
Who Art at Goldman,
Blankfein Be Thy Name.
The Rally’s come. God’s Work Be Done
On Earth as there’s No Fear of Correction.
Give Us This Day Our Daily Gains,
And Bankrupt Our Competitors
As You Taught Lehman and Bear Their Lessons.
And Bring Us Not Under Indictment.
For Thine Is the Treasury,
The House and the Senate
Forever and Ever.
Goldman.
NEW – [...]
Here is an interesting video of Trader Salem Abraham and Howard Lederer, legendary poker player. They discuss the similarities in managing a good poker hand and a good trade, and how folding bad hands in both cases is the key to success.
Howard Lederer is known as “the Poker Professor” because of his demeanor, analytical style [...]
Wisdom is meaningless until your own experience has given it meaning and there is wisdom in the selection of wisdom – BERGEN EVANS Author and Professor
Those of you that follow this blog know that I am a big fan of a definitive trading plan. Having a plan however, does not equate to success, there are [...]
I would like to take this opportunity to thank our subscribers and to wish you all a wonderful and prosperous 2010.
Vince Lombardi once said, “It is a reality of life that men are competitive and the most competitive games draw the most competitive men. That’s why they are there – to compete. The object is [...]
