Most investors have way too much cash. Wealthy investors really have too much. This is a phenomenon Citi Private Bank’s David Bailin has observed whether the markets are soaring, stumbling, or stagnant. According to Federal Reserve figures, retail investors had about 18% of their assets in money market funds and in U.S. bank deposits, considered…
On a foggy February morning in Oxford, England, I arrived at the John Radcliffe Hospital, a shiplike nineteen-seventies complex moored on a hill east of the city center, for the express purpose of being hurt. I had an appointment with a scientist named Irene Tracey, a brisk woman in her early fifties who directs Oxford…
Scientific experiments don’t generally attract widespread attention. But the ‘Gorillas in Our Midst’ (1999) experiment of visual attention by the American psychologists Daniel Simons and Christopher Chabris has become a classic. In his book Thinking, Fast and Slow (2011), the Nobel laureate Daniel Kahneman highlights this experiment and argues that it reveals something fundamental about the human mind, namely,…
“Make your interests gradually wider and more impersonal, until bit by bit the walls of the ego recede, and your life becomes increasingly merged in the universal life.” More here – Brain Pickings
You’ve heard me say it before…your thoughts lead to your feelings, your feeling become your actions and your actions become your results. I’ve heard others say it differently… your words become actions, which eventually become your destiny. Similarly Napoleon Hill, who wrote ‘Think and Grow Rich’ and became the twentieth century father of personal success,…
Its a shitty day in Melbourne, so with nothing better to do I decided to fire up excel, download a bit of data and see what I could learn. Anyone who has spent more than 10 minutes on this blog will realise that I am fascinated by mechanisms of generating excess return with minimal cost…
“I am grateful, not in order that my neighbour, provoked by the earlier act of kindness, may be more ready to benefit me, but simply in order that I may perform a most pleasant and beautiful act.” More here – Brain Pickings
In 1941 Japan possessed the most powerful fleet air arm in the world, its pilots and aircraft were second to none and they had introduced the world to the power of the carrier battle group. The 1st Air Fleet of the Imperial Japanese Navy which was also known as the Kido Butai had devastated Pearl…
Honnold is history’s greatest ever climber in the free solo style, meaning he ascends without a rope or protective equipment of any kind. Above about 50 feet, any fall would likely be lethal, which means that, on epic days of soloing, he might spend 12 or more hours in the Death Zone. On the hardest…
Every now and again you hear of someone who managed to win the lottery with their magic scheme, you might even hear that some mathematician has found out what numbers are most likely to be drawn. When I hear of such things I am always amazed that said mathematician seems to confuse lucky with random…
In the first quarter of last year I begin to tinker with my short term system – in fact the tinkering was so extreme that it essentially became a brand new system. Fortunately, this tinkering coincided with a the onset of a new financial year so I have a full year of data to review…
SOME PEOPLE JUST easily click into what we can show them about trading. Others need a complete overhaul from roots to branches, before they can grow their equity. Whatever your level, we’re here for you. Remember those dot to dot books we loved as kids? You’d just connect one number to another, on faith, and…
IF YOU’RE KEPT IN a playpen, you can only play with the toys you can reach. Even if it’s a well stocked playpen, the dreamer… the trader… the entrepreneur… we’ll be the ones planning our escape to play with the even bigger toys outside the playpen. We’re insatiable that way. A deep hunger – for…
I LOVE THIS LITTLE mantra from John Lavi – a member of our 2010 repeat-for-free Mentor Program. He kindly sent it to me recently: May I be patient, May I follow my trading process, in confidence, with excellence. May I be mindful of price action, and follow my trading plan, with conviction, with determination –…
