More than likely. The interesting thing about this piece is that whilst it is largely directed as the Chinese community and their approach to numerology and its perceived importance in decision making the same sort of irrationality applies universally. You need only pick up a copy of our local trading magazine Your Trading Edge to…
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What prompted this little piece was I was reviewing someones trading plan and one of the reasons they listed as wanting to trade was fun and my immediate thought was they are not long for this world. The problem with the notion of fun is that represents an emotional investment in the trading process. this…
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One of the things I find most intriguing about going to conferences is watching other speakers simply because their approach to the universe is so different to my own. Most go with the aim of confusing the attendees sufficiently that they believe the notion that said guru is indispensable and they must buy whatever they…
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Here is an interesting thought for those who like to tinker with their trading systems after a loss. If a pro basketball team’s opponent hits a better-than-expected proportion of its free throws — 80% versus 70% — the coach is half a percentage point more likely to change his starting lineup for the subsequent game, even though the opposing…
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I have snipped the two quotes from the always interesting Lefsetz Letter which is ostensibly about the music industry but is actually about so much more. INFORMATION OVERLOAD The twentieth century was all about scarcity, making it to the top and then dominating. Today there’s so much information that you feel inadequate. It’s an endless buffet…
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How should you act in the face of such unpredictability? First, don’t listen to doomsayers who are convinced financial calamities are imminent. They don’t know. (This is a powerful piece of advice that is seldom adhered to if my recent trip to the AIA Conference is anything to go by) Second, since avalanches are infrequent,…
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This tallies with work down by Brad Barber and Terrance Odean on the relative returns of male and female investors, But the benefits of investing in female-led financial endeavors go even further than the Journal has it: Hedge funds run by women tend to outperform other hedge funds. A report put out in early 2013…
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Do you hide the trades that aren’t going well from your spouse and only show them the ones where you’re making money? Are you a perpetual bull, or a perpetual bear when talking to your spouse? Do you deluge your spouse with details about trading, until their eyes glaze over and they start looking feverishly…
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