In the 2001 issue of the International Journal of Forecasting, an economist from the International Monetary Fund, Prakash Loungani, published a survey of the accuracy of economic forecasts throughout the 1990s. He reached two conclusions. The first was that forecasts are all much the same. There was little to choose between those produced by the…
Your Trading Sucks! WELL, MAYBE NOT completely. But if you feel like there is something holding you back in the markets, that something may be you! There isn’t a profitable trader who hasn’t struggled with their own mindset. Click here to see who Louise Bedford has teamed up with to bring you the solutions you’re…
“I have been primarily interested in how and why ordinary people do unusual things, things that seem alien to their natures. Why do good people sometimes act evil? Why do smart people sometimes do dumb or irrational things?” –Philip Zimbardo Like eminent social psychologist Professor Philip Zimbardo (author of The Lucifer Effect: Understanding How Good…
Many many years ago when I was heavily involved in the martial arts (think two training sessions a day punctuated by afternoon naps in the uni library) I used to go out with a girl who was at the Victoria Collage of the Arts as a dance student. Occasionally I would go and stretch with…
And still no one is in prison…. If you were writing a paranoidfantasyof gold price manipulation you’d be hard pressed to come up with something more on the nose than the U.K. Financial Conduct Authority’s order against Barclays. It has everything; it is the benchmark of manipulation by which all future manipulation will be measured. Well, this…
I came across this chart over the weekend. It looks at the volatility of stock, bond and currencies markets. The article that accompanies it falls into a trap I have commented on before namely, that volatility and changes in volatility are predictive. My view is that they are post-dictive – that is they react after…
I can see this catching on. According to the report, the billionaire businessman managed to swindle the state out of $2.6 billion, in a scam that began back in 2007. The execution happened suddenly, without giving Khosravi any notice, according to his attorney, Gholam Ali Riahi. More here – Latin Post
With old Tommy no longer with us and as a tragic Richmond supporter I thought it was worth giving this a run again.
If ever you wondered how stupid conservative politicians in the US are look no further
I must admit I have pondered this ever since a mate of mine had Russell Morris perform at his wife’s birthday and he was friggen excellent. Click the image below for the full list from Priceconomics
Average performers believe their errors were caused by factors outside their control: My opponent got lucky; the task was too hard; I just don’t have the natural ability for this. Top performers, by contrast, believe they are responsible for their errors. Note that this is not just a difference of personality or attitude. Recall that…
I have just finished wading through The Physics of Wall Street by James Owen Weatherall which tracks the impact of quantitative traders on both finance at large and Wall street in particular. As the title suggests it concentrates most on physicists who have made the leap into finance and with them have brought their impressive…
When novice traders enter the world of trading they are bombarded by all sorts of rubbish about what to do and how to do it. Unfortunately, very little of this material covers what is actually important and none of it seems to mention the words courage and patience. I have spoken about the notion of…
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