On a bit of a tear this morning with stupid things I have heard and been sent recently. I had heard someone say that 50%pa is a solid achievable return…..in what f^$ken universe is that realistic. Consider that table below in which I have taken a starting capital of $1,000,000 and compounded it at 50%…
I am prone to saying that markets are very generous if you allow them to be – the unfortunate thing is that most traders/investors regard the markets as hostile. This perception of hostility generates a raft of negative emotional responses to every slight perturbation the market might make. This in turn hampers their capacity to…
A few days ago I had someone reach out to me via LinkedIn wanting to make contact – the mere fact that someone wants to talk to you via LinkedIn should have actually given it away. Anyway a day later I get the email below which I offer with only one comment. This person is…
Many people think of the economy as following a set of fairly scientific principles. We buy more if things are cheap. We buy less if they’re expensive. Companies hire more people if it looks like the economy is growing. They cut back if it looks like things are going to tank. Or say you’re in…
Whilst I was away travelling I checked into my LinkedIn account and was greeted with the usual amount of spam and rubbish job offerings but in typical LinkedIn fashion, I was bombarded by ads extolling the virtues of Australian Super. You can imagine my delight when they dropped in an ad with the tagline Proven…
I was recently keynoting at a company when the presenter before me (an ex-Navy SEAL) took the stage to discuss the importance of succeeding under extreme pressure. It was a topical comment, as this particular company was about to go through an intense period. He shared an training overview video from the Navy SEALs detailing a particularly onerous part of…
Fascinating collection of old trading docs hats off to Tracy Alloway for curating this. A little cringe worthy in places but a good way to spend the morning.
THERE IS ONLY A week to go before we open up for booking for the 2020 Mentor Program. The Mentor Program is a 6-month, repeat-for-free, comprehensive training course for traders of all levels. The 2020 program kicks off in February 2020, but we open for bookings on Thursday 7th November. To get access, you need to…
When I first came into contact with the world of finance I did so having migrated from a world that was somewhat ruthless when it came to intellectual rigour. My expectation was that finance would be similar after all money is important. instead, I found a world that was resplendent in myths, partial truths, assumptions…
Amateurs stop when they achieve something. Professionals understand that the initial achievement is just the beginning. Amateurs have a goal. Professionals have a process. Amateurs think they are good at everything. Professionals understand their circles of competence. Amateurs see feedback and coaching as someone criticizing them as a person. Professionals know they have weak spots and seek out…
Apparently Blockbuster opened their first store 30 years ago. In 1989 they had 1,000 stores In 1999 they had 6,500 stores In 2009 they had 7,400 stores In 2019 they had a single remaining store in the US which serves as an odd sort of tourist attraction. In 2000 they had the opportunity to buy…
These days, not even the rich feel rich. According to a recent survey by the financial-advisory firm Ameriprise Financial, only 13 percent of American millionaires classify themselves as wealthy. Even some of those surveyed who had more than $5 million across their bank accounts, investments, and retirement accounts said they didn’t feel rich. If multimillionaires don’t feel…
Although rumors of its performance have long circulated on Wall Street, the actual numbers are even more mind-blowing: From 1988 to 2018, Medallion returned 66.1% annually before fees. Net of fees, the gains were 39.1%. Estimated trading profits during those 30 years amounted to $104.5 billion. (About those fees: If the standard hedge…
When I was at school my reports used to say many things about me. Not all of them flattering but what does stick in my mind are two things. Firstly, a teacher who commented that it was a good thing they stuck a size 10 mouth in a size 10 body. Secondly, not all that…
Apparently the IMF recently compared the Australian economy unfavourably to that of Greece which apparently is a fair kick in the balls. This, of course, sent everyone into a tailspin particular our politicians who are too stupid to be able to read a graph and are locked within the narrow intellectual constraints of their own…
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