Loss Aversion Again

The topic of loss aversion made an appearance briefly in my reading list again last week and as usual, the author hadn’t really thought about the problem and had merely parroted the usual stuff as to why traders cant take losses. For those who are unfamiliar with the basis for loss aversion it simply states …

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Whats The Best Form Of Market Exposure?

I have mentioned before that the only thing I got from Australian history at school aside from our national preoccupation with celebrating defeat (Gallipoli) and eulogising drunken brawls (Rum Rebellion and Eureka Stockade) was the fact that the people who made the real money from our various gold rushes were the people who sold the…

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Perfection is the Enemy of Excellence

All of trading is a compromise based upon what you want out of the market and what the market can give you at any given time. It is at this early point in my section that people begin to get frustrated because they become obsessed in part by the need for perfection. Trading is not…

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Bitcoin and Gold Are Monuments To Irrationality

With worries about a currency war growing and bond yields collapsing, investors have reached for their usual haven of gold. Only this time it has a friend (as my colleague Tim Culpan wrote this week): Bitcoin. Gold’s dollar price has risen 7% this month, Bitcoin’s by 18%. This apparent use of the two commodities as companion…

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Final Thoughts – August Newsletter

It’s a fact. Your level of income will rarely exceed your level of self-development. But most of us are going to retire broke. Don’t believe me? Listen to these chilling facts: The average superannuation balance in Australia is only $70,000 (Cooper Review into Superannuation). Only 7% of retirees are financially secure. (Association of Superannuation Funds).…

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A Bizarre Statistic

Apparently, 1 in 4 adults in America did not read one useful book in 2018. They didn’t develop a skill, focus on their mindset, or read something that wasn’t for the purpose of entertainment. Fiction doesn’t count. It’s a pass-time. A guilty, page-turning pleasure. But it’s not a source of education or inspiration, and it…

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Stop Procrastinating

ELIAS CANETTI IN ‘The Human Province’ states “One lives in the naïve notion that later there will be more room than in the entire past.” We think we’ll live forever, and that we’ll always be the age we are right now. We make the mistake thinking we have time. Even though at an intellectual level…

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Are You Making Money Welcome?

MONEY GOES WHERE it feels the most welcome. Money moves to the people who persuade it that it will have a productive home with them. None of us actually create wealth. We don’t print money. However, we do encourage it to visit and stay. We attract it. We multiply it because our actions are deemed…

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