“Motivation is crap. Because once you’re in an extreme situation, motivation goes away. Right now it’s 69 degrees outside, it’s sunny, with a little bit of wind. I’ve got a nice TV in front of me. If you were to watch a motivational video in this environment, boy, you’re going to think you’re a badass. You’re…
I snipped this from the Twitter page of Alex Hutchinson the author of Endure which is an excellent read for those looking for something different. The piece in quote marks – “My training will be the same, but my mind will be different” sounds as if it could have almost been written for a trader.…
I snipped the graphic below from Visual Capitalist who produce some interesting infographics. What has always intrigued me about the interpretation of these performance comparisons is that almost everyone gets them wrong. The financial media looks at the fact that commodities overall had negative performance for the year and then carry on about how bad…
There is an old adage that it is not the tool but rather the person which wields that determines ones effectiveness. Let me give you two examples one historical and extreme and the other trading related. In 1941 and early 1942 Japanese aviators crashed their way through the Pacific – superior aviators in a superior…
LB and I are in the process of going through a series of trading plans and I found the chart below in one of the back and forth bits of communication we have been having with a mentoree. I have always been fascinated by growth curves of various sorts I suppose it comes from a…
If, like many, you are searching for your calling in life – perhaps you are still unsure which profession aligns with what you most care about – here are five recent research findings worth taking into consideration. More here – Big Think
As newborns, we enter the world by inhaling. In leaving, we exhale. (In fact, in many languages the word “exhale” is synonymous with “dying.”) Breathing is so central to life that it is no wonder humankind long ago noted its value not only to survival but to the functioning of the body and mind and…
Picture this, LB and I are sitting in an inner city restaurant having lunch with a pair of individuals who work in this space. We should have been forewarned by the choice of venue as this was a place where we had meet a broker from Sydney for lunch, who instead of paying the bill…
Brilliant opening quote…. “Forecasting: the attempt to predict the unknowable by measuring the irrelevant; this task employs most people on Wall Street.” The words of Jason Zweig, author of the Devil’s Financial Dictionary, are particularly apt at this time of year. We hear a lot from financial forecasters every January, as strategists prognosticate on what’s in store…
It always struck me that golf and trading were closely related in that in a golf tournament the person who wins is the one who makes the fewest catastrophic errors. And when they make those errors it is the person who manages their mental state afterwards who wins…
Around about now Wall Street and others begin to trot out what their predictions for the coming year are. The latest round of such crystal ball gazing can be found here in an article by Bloomberg called Here’s (Almost) Everything Wall Street Expects in 2019 You can peruse this sort of nonsense at your leisure.However, before…
It is without question that investors now have easy access to more information than ever to guide decision making; optically, this surfeit of data appears to be a positive – who doesn’t want more ‘evidence’ to inform their judgements? Yet there are a number of potential drawbacks, most notably the challenge of disentangling signals from…
In finance you get to hear all sorts of odd things – it must be the type of people the industry attracts. However, some stick in the mind more than others. Some time ago LB and I had a meeting with a group and we discussed numerous ideas, none of which went anywhere, the reason…
Recently on LinkedIn I saw a piece that was extolling virtues of profit taking, a strategy I am vehemently opposed to. The piece used words such as greedy to try and generate some form of emotional response in the reader – as if being greedy is a bad thing. In trading it is the only…
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