Whilst having one of my regular floats this morning I was pondering the surprise of people that prices after an extended run have a period of contraction, to me this has always been the natural order of things. I understand that various aspects of optimism and recency bias afflict people but it still intrigues me that…
Piss poor reason for selecting people to serve on boards. Not entirely surprising when you consider the closed ecology of board memberships domestically Golf buddies aer_may_2016 2 from Trading Game Pty Ltd
Odd thing of the day. More here – Bloomberg
The chart below is from JP Morgans Guide To The Market and it says that the S&P500 is at an inflection point – this obviously means something to someone but I for the life of me cannot work out what. The current upswing as defined by the trend line that has been drawn could have been…
WHO AMONG US has not felt the affront? Macadamia nuts arrive in a bag, not on a dish, and something shrivels in the soul. Are we animals? Did we execute the challenging task of being born insanely wealthy only to eat in-flight snacks from a bag? We did not. And that is why, when Korean…
It’s two days after Ned Overend’s 60th birthday, his back hurts, and he’s staring into the weeds at Suicide Six—billed as one of the oldest ski areas in the East—puzzling out how to avoid a broken hip. He pushes his gray carbon cyclocross bike up a 30-degree slope, noting ruts, loose dirt, a toad, and…
But I’m not primarily interested in the main story. Instead, I’m struck by a line of testimony offered at trial by then-Bear CEO Jimmy Cayne that does not even show up in subsequent court opinions, despite extensive recitals of the facts of the case. The generally “cocksure” Cayne apparently thought that his firm could be in…
I have often written that courage is an underrated commodity in trading. In fact it is rarely mentioned. Most of the time the psychological toughness required to trade is ignored by people in the trading education business. It is spoken about by actual traders but those on the sell side of the business rarely if ever…
We all fail, all the time. We might miss a call with a client because of an emergency work meeting, or miss that meeting because another project has suddenly become urgent. And then we (or our families) get sick, and we have to shift priorities around again. These unsystematic failures are benign, though. They reflect…
Last year (been waiting a few days to say that) I wrote about the lies we tell ourselves in order to successfully navigate our lives. Unfortunately, the propensity we have towards delusion means that we are also subject to the delusions of others. My guess is that this is part of the the in-built crowd…
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