Ever been confronted with a decision that seems so hard, so confusing, so ambiguous that you’ve chosen to avoid that decision entirely? Sure… we all have. I’ve got a valuable shortcut for you that can be applied to every area of your life. Ask yourself… “What would a smart person do?” Then, go do that. For goodness…
In April of 1958, Hunter S. Thompson was 22 years old when he wrote this letter to his friend Hume Logan in response to a request for life advice. Thompson’s letter, found in Letters of Note, offers some of the most thoughtful and profound advice I’ve ever come across. More here – Farnham Street
Dire predictions of imminent stock-market doom are a recurring feature since the 2008 financial crisis, and one fund industry executive has had enough. Michael Cembalest, the chairman of market and investment strategy for J.P. Morgan Asset Management, rounded up apocalyptic predictions from a range of commentators, including famed investor George Soros, bond-market giant Jeffrey Gundlach,…
You’ve got to wonder: “How long can Chris and Louise keep this up? They’ve been running the Mentor Program for 20 years… it’s the longest running repeat-for-free trading Mentor Program in the world. When are they going to quit?” Well, it’s a good question. We’ve toyed with the idea. Played with it, like a cat…
Stupid prediction from a soft article in the AFR today. UBS is forecasting the price of gold will remain above $US1500 ($2169) through the middle of 2020, rising to $US1650 an ounce by June 2022. JPMorgan is also expecting an increase, forecasting the gold price will remain higher than $US1500 until at least the end…
What seems to me to be one of the perennial myths about high performance is that you can do it on no sleep – this is the great con of the Silicon Valley tech executive. I have a friend who constantly boasts that they are in the office by 6.00 am every morning and that…
One of the things with biomedical research of any genre is that so much of any benefit can only be seen with complex and powerful statistical tools. And more often than not these tools are applied to studies that have taken place in a laboratory on populations of mice that have been specially bred for…
A bit of fun for a Monday morning. Source – How Much – Understanding Money
This quote sprung up as being particularly apt about trading – “There are some enterprises in which a careful disorderliness is the true method.”
In 1920, the American psychologist John B Watson published the results of one of the more ethically dubious scholarly articles of the past century. Along with Rosalie Rayner, a 21-year-old graduate student at Johns Hopkins University in Baltimore, where he taught, Watson aimed to instil a specific fear in an otherwise normal baby. Until then,…
I am back on the theme of idiots in this business. At a conference overseas many years ago LB was talking to a group of female traders who mentioned that they were always losing money trading options. So she enquired a bit deeper. It turns out that the strategy they had been told to use…
This is somewhat appropriate given my ranting and raving this morning…. In 1986, philosopher Harry G Frankfurt wrote: “One of the most salient features of our culture is that there is so much bullshit.” This was the opening line of his seminal essay (later a book), On Bullshit, in which Frankfurt put forward his theory on the subject.…
On a bit of a tear this morning with stupid things I have heard and been sent recently. I had heard someone say that 50%pa is a solid achievable return…..in what f^$ken universe is that realistic. Consider that table below in which I have taken a starting capital of $1,000,000 and compounded it at 50%…
