League Table

As the year draws to a close I thought I would generate a quick league table of how a few markets of interest performed this year. As usual there were markets that trended strongly and markets that didnt (the All Ordinaries….again).

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Email Of the Week

Traditionally email of the week is a catalogue of the idiocy of people attempting to make some headway in trading and this week was no exception with two excellent contenders. Early in the week we had some one who was trying to convince us that she was a conservative long term investor and she sought…

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Money Giveth, Money Taketh Away.

This study has been siting in my inbox for quite sometime and I finally got around to reading it – the abstract below gives a very good summary of the findings. This study provides the first evidence that money impairs people’s ability to savor everyday positive emotions and experiences. In a sample of working adults,…

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Subconscious Bias

One of the difficulties of living in a world that is flooded with narratives is that they have an insidious way of seeping into your subconscious. This infiltration is unknown until you need to make a decision. The chart below is of QAN and upon cursory inspection it shows a relentless bearishness surrounding the stock…

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Particularly relevant for those of us who are getting on a bit. Robert Aronowitz, a historian of medicine and medical doctor at the University of Pennsylvania, points out that when drug companies are able to treat people who might become sick, as opposed to patients with symptoms, the market is a lot larger. Once put into the…

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Where Are The Economists Yachts?

For your edification I bring you two articles. Firstly, a series of predictions made by Saxo Bank economists. Secondly, and more sensibly a piece that rightly asks – where are the economists yachts? Once you have read the first article you will automatically know the answer to the question posed in the second article.

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Men Are Idiots …. Not Really New News…

So they took a look at the data on Darwin Award winners over the past 20 years, from 1995 to 2014.  This is excellent data to work with. The winning event must be verified, winners must “show an astounding misapplication of common sense,” the winners must be both capable of making good decisions — and…

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Oh Dear …. Part Three

These are my last words on this topic I promise. We have learnt that merely taking the average annualised return for an index and then back dating that figure to achieve a hypothetical magical figure is naive and reflects a tremendous lack of knowledge as to how markets work.  Likewise suggesting that someone simply buy all…

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Oh Dear …… Part Two

I was thinking of the results I was able to generate in part one and have come the conclusion that they flatter the basic premise of achieving the same return as the accumulation index. Remember, the basic premise was you simply bought the index and hung on – it is referred to in the piece…

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