One of the difficulties that new investors face is the extraordinary range of investing strategies that are presented to them. These strategies are often presented as gospel from what new traders would perceive to be sources of authority. One of the oldest chestnuts that I absolutely abhor is the notion of dollar cost averaging which…
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I got bounced the chart below this morning because as the person who sent it to me said its The Most Important Chart on Investing You’ll Ever See. I only had the image so I traced it back to here. The chart itself simply shows the relative length of bull and bear markets in the S&P 500…
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I came across this chart below which examines the most common lies that people tell on their CV’s. Source – YourGovUK It is fairly obvious that the most common lie relates to either education or qualification and this is a point I have some personal experience with. Many, many years ago when I was silly…
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I caught a piece in Bloomberg this morning that had FX traders lamenting the lack of volatility in FX markets this year and using that as an excuse for their lack of profitability. Upon seeing this I thought to myself that this sounds awfully familiar amd it does – it is the classic I dont…
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Benoit Mandelbrot was a Polish-born, French and American “mathematician with broad interests in the practical sciences.” I met him only once at a lecture at Microsoft Research before he passed away in 2010. Mandelbrot and Richard Hudson are the authors of the influential book The Misbehavior of Markets: A Fractal View of Financial Turbulence. I suggest you…
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One of the most interesting things about markets is that they are not an homogeneous ecology – those who lack experience in trading or investing tend to speak about equity markets as if every segment is exactly the same as every other segment. It is obvious that the market is split into segments based upon…
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I have been spending some more time playing with the data set below which I looked at last week within the context of long term returns for the All Ordinaries. One of the issues that is difficult for traders to come to grips with is the lumpiness of returns that are generated by trading systems.…
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WHEN HRISTOS DOUCOULIAGOS was a young economist in the mid-1990s, he got interested in all the ways economics was wrong about itself—bias, underpowered research, statistical shenanigans. Nobody wanted to hear it. “I’d go to seminars and people would say, ‘You’ll never get this published,’” Doucouliagos, now at Deakin University in Australia, says. “They’d say, ‘this is bordering on libel.’”…
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