In science, 1905 is known as the annus mirabilis, or “miracle year,” the period when Albert Einstein, at the age of 26, published several discoveries that changed physics forever. By the summer of that year he’d explained Brownian motion, discovered the photoelectric effect (for which he won a Nobel Prize), and developed the theory of…
At last some good news……. People too often forget that IQ tests haven’t been around that long. Indeed, such psychological measures are only about a century old. Early versions appeared in France with the work of Alfred Binet and Theodore Simon in 1905. However, these tests didn’t become associated with genius until the measure moved…
Kieran O’Dea rises at 5 a.m. to begin his daily routine, shuffling to his desk to eye his portfolio: a cluster of biotechnology stocks and a bet that Tesla will go bust. Then he pulls up the latest video on Real Vision, the start-up financial video service that promotes the trading ideas and insights of hedge…
I was watching former US President Barack Obama speak at a global event the other week, and I was struck by how charismatic he was. Whatever you think of the Obama administration’s time in office, there’s no getting past his mastery of language and the stage presence he possesses. Some people have this in spades,…
In 1997, Warren Buffett, the famous investor and multi-billionaire, proposed a thought experiment. “Imagine that it is 24 hours before you are going to be born,” he said, “and a genie comes to you.” “The genie says you can determine the rules of the society you are about to enter and you can design anything…
This is a warning for sensitive types – this is one of my rants. So I am sitting here in day oncology at my local hospital and I have been busy typing away and generally ignoring people which is the best way to pass the time. However, due to the nature of such places you…
IT’S ALWAYS EASIER to speak from your scars, rather than your open wounds. I know you’re in the thick of your own problem and that you ache with uncertainty about what the next step should be. I remember ‘the yearn’ to trade and the old expectations about my career that I hung onto, bound to…
PEOPLE OFTEN QUESTION why I keep a Morning Journal. I dedicate regular journaling time to keep my thoughts in order, banish demons, and gain trading clarity. I think you’ll find a lot of other successful people follow this habit as well. Leonardo da Vinci filled tens of thousands of pages with sketches and musings on…
FILL UP YOUR CAR, your body and your mind with fuel before it’s an emergency. Don’t fall into empty. The frantic panic you’ll feel when you’re running on empty just isn’t worth it. Don’t be so totally distraught with your job before you take the action to learn about the markets to win your freedom.…
CHRIS TATE OFFERS A crazy blend of harsh life advice, and raw trading tips. Here are some quotes I feel will set you up beautifully for the month: “Avoid the noise. Seek the trend”. “There is an infinite number of potential trades for you”. “There is no nexus between volatility and trend”. “If it does…
In the summer of 1830, Victor Hugo was facing an impossible deadline. Twelve months earlier, the French author had promised his publisher a new book. But instead of writing, he spent that year pursuing other projects, entertaining guests, and delaying his work. Frustrated, Hugo’s publisher responded by setting a deadline less than six months away.…
ABSTRACT We show that motivated by sensation seeking, hedge fund managers who own powerful sports cars take on more investment risk but do not deliver higher returns, resulting in lower Sharpe ratios, information ratios, and alphas. Moreover, sensation‐seeking managers trade more frequently, actively, and unconventionally, and prefer lottery‐like stocks. We show further that some investors…
I seem to be spending a fair bit of time talking about returns either via email, PM or via the blog. The most common question I get seems to revolve around the simple idea of what can I expect and is X figure realistic. This figure is generally a number that is wholly unrealistic in…
