All Ordinaries Weekly Returns

Having just done this exercise for the US market I thought I would repeat it for the All Ords. There are a few things that stand out out. 1987 was a major pullback the likes of which have not been replicated, not even by the GFC. The local market is prone to periods of pullback…

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The Bleeding Obvious

In trading there are a few givens and most of what actually passes as investment knowledge is either myth, crap that someone has pulled out of their arse or a combination of both. However, there is one fact that is incontrovertible – markets go up and markets go down. It has been this way since…

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Do Alpha Males Deliver Alpha?

Apparently not… Abstract Using facial width-to-height ratio (fWHR) as a proxy for testosterone, we show that high-testosterone hedge fund managers significantly underperform low-testosterone hedge fund managers after adjusting for risk. Moreover, high-testosterone managers are more likely to terminate their funds, disclose violations on their Form ADVs, and display greater operational risk. We trace the underperformance…

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Yale’s Most Popular Class Ever: Happiness

NEW HAVEN — On Jan. 12, a few days after registration opened at Yale for Psyc 157, Psychology and the Good Life, roughly 300 people had signed up. Within three days, the figure had more than doubled. After three more days, about 1,200 students, or nearly one-fourth of Yale undergraduates, were enrolled. The course, taught…

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Magical Thinking Thinking Malarky

One of the most interesting things about natural phenomena which have a clear scientific explanation is that they tend to bring out the nutbags in the world. I was sitting in the lounge at the airport and LB was reading to me all the crap that was on social media regarding the recent super blue…

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Reading Between the Lines

Technical analysis involves using historical price and volume data to predict market movements. It can be applied in markets ranging from wheat to the latest speculative craze, cryptocurrencies. One Bitcoin pundit, for example, recently discussed the appearance of an “inverse head and shoulder breakout” after the digital currency surged 10% within 24 hours, claiming that “…BTC is trading well…

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10,000 Hours With Claude Shannon

For the last five years, we lived with one of the most brilliant people on the planet. Sort of. See, we just published the biography of Dr. Claude Shannon. He’s the most important genius you’ve never heard of, a man whose intellect was on par with Albert Einstein and Isaac Newton. We spent five years with him.…

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You Will Get What You Want…..Eventually

This week has been one of reflection brought on by observing various friends and acquaintances in various stages of their lives. This scrutiny has reinforced in me one of my core beliefs and that is that everybody, barring some major catastrophe eventually gets what they want out of their life. Want a shit relationship chances…

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The Dead Weight of Misplaced Beliefs

I have lost count of the number of times I have deadlifted in my life. If there were a single exercise that I would prescribe for everyone it would be deadlifting. Nothing beats the athletic payoff derived from picking something up off the floor and then putting it down again. I always looked forward to…

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Someone with brains….Thank God…

I am so glad that this years winner was someone whose intelligence and contribution will span more than their own life. I am also pleased that it didnt go to some moron whose only contribution to society was either running, jumping, catching or kicking a ball as sports people have been over represented in this…

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Why Academics Are Not Rich.

I really shouldn’t have a go at academics since that was a career path I once aspired to. Despite my failed career aspirations they do always seem to be late to the party and when they get there they have brought Captain Obvious as a date. As an example consider the abstract from this piece…

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