The number one problem I currently hear from portfolio managers, team members, and traders in financial markets is “burnout”. That’s not surprising, given the list of challenges from 2020: Keeping up with markets that have changed trends multiple times within the year; Maintaining perspective amidst uncertainties regarding COVID-19 and implications for health and safety; Working…
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On April 20, something occurred that was unprecedented in the history of financial markets: The price of oil went negative. It wasn’t the case that the cost of a barrel had fallen to some scary-low number. It actually went below zero, meaning there were traders out there who would pay you to own oil. It…
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Take five underemployed pilots. Give them intense markets training, add in an investment portfolio to experiment with, pit them against a control group from other backgrounds, and see what happens. That is what a small London-based trading firm did in August, hoping to prove the “discipline, control, process and self-awareness” that pilots show in the…
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If this doesn’t make you day then you are probably dead from the neck up.
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In presentations regarding trading psychology and why traders find it so hard to be profitable, I often refer to a paper titled An analysis of the profiles and motivations of habitual commodity speculators by W. Bruce Canoles, Sarahelen Thompson, Scott Irwin Virginia, Grace France (Journal of Futures Markets Volume 18 Issue 7 October 1998) This…
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Recently I chatted with David Hobart who is a former prop trader turned high-performance coach to professionals around the world. Click on the player image below to be taken to the interview.
The number one problem I currently hear from portfolio managers, team members, and traders in financial markets is “burnout”. That’s not surprising, given the list of challenges from 2020: Keeping up with markets that have changed trends multiple times within the year; Maintaining perspective amidst uncertainties regarding COVID-19 and implications for health and safety; Working…
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Italian psychologist Massimo Piattelli-Palmarini was once asked why people keep making the same mistakes. He said: Inattention, distraction, lack of interest, poor preparation, genuine stupidity, timidity, braggadocio, emotional imbalance, ideological, racial, social or chauvinistic prejudices, and aggressive or prevaricatory instincts. More here – Collaborative Fund
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For most fund managers there is nothing more important than adopting a long-term approach. This enables them to insulate themselves from the noise and random fluctuations of financial markets, and hopefully exploit them. Yet for many this is simply not possible. Perverse and misaligned incentives, the desire to measure everything over meaningless time periods and…
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