“There are so many kinds of stupidity, and cleverness is one of the worst.” Thomas Mann. Many words have been expended on the nature of intelligence, while the topic of stupidity is comparatively neglected – even though it is all around us, screwing us up. That’s probably because we assume stupidity is just a lack…
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We’ve all been there, mired in the throes of pessimism when life just doesn’t seem to be going our way. For the lucky ones, this entirely natural, though disconcerting, feeling ebbs and flows, ultimately dissolving into a more balanced, healthier state of mind. For hapless others, though, the extreme negative thoughts and ideation can overwhelm—even…
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IG Markets community blog recently printed an article with the title What Is The Number One Mistake Traders Make? In this piece, the author looked at the impact of Prospect Theory on traders’ decision making and it repeats what I think is the mistake used when applying this to trading. At its core Prospect Theory…
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Nobel memorial prize winner Daniel Kahneman is one of the world’s most famous psychologists, known particularly for his work identifying the role of cognitive bias in everyday decision making. In this edition of More or Less he talks to Tim Harford about his latest book, Noise – A Flaw in Human Judgement, in which he…
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As an investment style, trend following has existed for a very long time. Some 200 years ago, the classical economist David Ricardo’s imperative to “cut short your losses” and “let your profits run on” suggests an attention to trends. Early in the last century, the legendary trader Jesse Livermore stated explicitly that the “big money…
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Following on from the previous post on the gain you will need to recover from the current fall out I thought I would rattle off charts of the worst performers and ask a simple question for those who are still holding these issues. My view is the market never lies to you it is totally…
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Along with the bleating of the crypto crowd that the current collapse is all a conspiracy – which tells you a lot about the psychology of people who take crypto seriously is the whinging of fundamental advisor types who are apparently telling their clients don’t worry the market always goes up. Apparently, they cannot differentiate…
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