Off With Their Heads

I came across this chart the other day – it shows the collapse in the income of the bottom 50% of the population versus the gain of the top 1%. I am not certain who actually thinks this sort of thing is sustainable.

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Long Term Wealth Creation

I am currently in the process of adding the finishing touches to our upcoming seminar series and in doing so I was looking at the notion of long term wealth creation and why it is so hard for traders to simply sit still and not doing anything when the market is running in their favour.…

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Ray Dalio – Principles Part 1

I am currently making my way through Ray Dalio’s collection of thoughts and it is proving to be an interesting read. Dalio is an interesting individual with an interesting take on life – this obviously explains in part why his hedge fund Bridgewater has a somewhat interesting reputation for having an unusual corporate culture. What…

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What Breaking the 4-Minute Mile Taught Us

The sad news of the passing of Roger Bannister, the first human being to run a four-minute mile, got me thinking about his legacy — not just as one of the great athletes of the past century, but as an innovator, a change agent, and an icon of success. As it turns out, when he broke…

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Acceptable losses: the debatable origins of loss aversion

It is often claimed that negative events carry a larger weight than positive events. Loss aversion is the manifestation of this argument in monetary outcomes. In this review, we examine early studies of the utility function of gains and losses, and in particular the original evidence for loss aversion reported by Kahneman and Tversky (Econometrica …

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AMP – Its Been A Dog For Awhile

Whilst driving home yesterday I had the misfortune of hearing an ambulance chaser on the radio touting for AMP shareholders to be involved in a class action over the destruction of shareholder wealth caused by the revelations in at the current Royal Commission and this prompted me to think what shareholder wealth and what destruction.…

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The Real Story Behind Charting Secrets

Years ago I climbed up the corporate ladder to achieve the role of a national sales manager. I was having an absolute ball, revelling in my ambition, loving every minute of it. Everything that I had aimed for was beginning to come true. However, everything wasn’t as picture-perfect as it appeared. At night, I would…

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Reality is Different To Perception

I have an aversion to the mainstream media since I regard it to be simplistic fodder for the masses designed to do little more than maintain a never ending cycle of anxiety based upon a distorted version of reality. It wilfully ignores the small battles people undertake everyday to make the world a tiny bit…

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Losing wealth, health and life

Public hearings for the Financial Services Royal Commission, which resumed this week, are bringing to light some questionable practices in the sector – from lending beyond people’s means, to giving the wrong financial advice and charging for advice that was never given. Unaffordable home loans, poor financial advice and unmanageable consumer credit may have serious consequences for many Australians, beyond…

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Hugh Hendry’s Life After Hedge Funds

Always been a fan of Hugh simply because he was different….. Hugh Hendry is a rare breed: a retired hedge fund manager who has actually retired. Lately, the former manager of the Eclectica Fund, a London-based global macro outfit he ran for 15 years until shuttering it last year, spends his days unsubscribing from finance-related…

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Hedging Costs Money

Just a quick example for people who are keen on hedging or risk reduction. Hedging or risk reduction in any form acts as a drag on performance – this is a side effect of  what it is designed to do. The chart below is a performance comparison between GOLD and unhedged local gold ETF and…

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