Average performers believe their errors were caused by factors outside their control: My opponent got lucky; the task was too hard; I just don’t have the natural ability for this. Top performers, by contrast, believe they are responsible for their errors. Note that this is not just a difference of personality or attitude. Recall that…
I have just finished wading through The Physics of Wall Street by James Owen Weatherall which tracks the impact of quantitative traders on both finance at large and Wall street in particular. As the title suggests it concentrates most on physicists who have made the leap into finance and with them have brought their impressive…
When novice traders enter the world of trading they are bombarded by all sorts of rubbish about what to do and how to do it. Unfortunately, very little of this material covers what is actually important and none of it seems to mention the words courage and patience. I have spoken about the notion of…
I have no idea why I find this interesting. Whoosh!” bragged geneticist Michael Myre, spreading his fingers and pushing his hands away from his body. “That’s what they’ll do.” ‘Whoosh’ is not a word often applied to the slime mould Dictyostelium discoideum — affectionately called ‘Dicty’ by its devoted following of cell biologists and geneticists — but Myre,…
I remember sitting in an airport watching this unfold on the tv’s in the lounge trying as hard as I could not to get overly shitty that I had chosen now to be in between offices….. In 1992, George Soros brought the Bank of England to its knees. In the process, he pocketed over a…
I have been waiting for awhile for a breakout of congestion to enable me to go long the Dow. Looks like I will have to wait a little bit longer.
This great little piece was originally posted on the Mentor Alumni forum by PGH and I had completely forgotten about it like a peanut. Fortunately, I was reminded of it so I could post it here. The original piece can be found here – Fear is the Root of Your Problems By Leo Babauta Every problem you or…
I have been pondering the return to the bad old days of financial planning as advocated by the big banks and in my discussions with people they find it hard to grasp the impact of fees upon investment returns. I think this is due to a basic innumeracy among people and I believe this is…
Great News for Traders wanting to cut through their trading problems like a hot knife through butter. Well it may not suck completely. Are you a Market Wizard already? C’mon… You know in your gut that you can do better. It’s like an itch that just won’t go away… a yearning… a deep-seated determination to excel.…
One of his first jobs was a two-year stint as the chief steward aboard the yacht of a sheik—basically, a butler at sea. The sheik wasn’t on his boat all that often, but when he did set sail, he liked to take the vessel “whoring,” as Bentley puts it. “The girls would all line up…
One of the best wealth transference scams ever invented continues. The same thing can be said for the domestic funds management industry – particularly where superannuation is concerned. Recent changes to remove the best interest provision will see investors even worse off courtesy of a return to the bad old days of belting people…
This is actually quite interesting. Tuesday The working week almost always commences on a Tuesday, when I’m generally in the office by 8.00am.(Editor’s note: This ‘office’ is in fact larger than most houses. It is a lavish three bedroom, two bathroom, $1 million-plus penthouse with rooftop entertaining area and pool.) Tuesdays are largely set aside…
Well we are only five months into the year and I think I have found the winner of this years most useless piece of financial journalism. The clubhouse leader is Nicole Goodkind of Yahoo finance whose article Secrets of the worlds sexiest CEO is probably one of the most demeaning and childish pieces I have encountered…
