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…
Monday morning is bin morning in my suburb so on Sunday evening everyone in my street collects their gaggle of variously coloured bins and parks them on the nature strip ready for collection. This morning I get and open the curtains and spy a tradies ute parked right in front of the bins thereby making…
Most people have met “Ron” but probably don’t realise it. Ron is not some long-lost Great Uncle or even the person you always smile at the local café but never got around to learning their name. No, that is because Ron is short for “Later Ron”, which is that old chestnut that’s also called procrastination.…
LB and I have just wrapped up the final in our series on full time trading. For the most part they have been enjoyable except for one twat who complained that it was unprofessional of LB to not present when she was suffering from severe laryngitis. Presenting for the first time in years is an…
