 A trader must put in the time and effort to study and learn the proper skills in order to be successful. Whether that is through technical or fundamental analysis, one must invest in their education. They must completely understand their market, and its ideal as a beginner to focus on one market and be a specialist. A part of the knowledge and education is devising a game plan or strategy for trading. Writing down your rules and sticking to your trading plan is a key to success. |
Archives of “January 7, 2019” day
rssPeter Lynch's Interview-Video
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Legendary investor Peter Lynch (formerly of Fidelity’s Magellan Fund) sat down for a rare interview with Charlie Rose. In it, he talks about philanthropy, what makes good management, and more.
Lynch notes that he’s now working with some young analysts but the only investing he’s doing now is for himself and for charity.
He joked that he was a “bottom down” investor. He likes to invest in the second or third inning of a story, noting that you could have bought Walmart (WMT) ten years after it went public and still done extremely well on that investment.
He identified the three C’s in investing: complacency, concern, and capitulation. He said complacency is the worst one. (more…)
The Three Kinds Of People That Hate Warren Buffett
1. Conspiracy theorists who can’t let go of the fact that one of the world’s richest men probably has some advantages and influence that others don’t have. To which I say grow the f— up, this is how the world works, read a book about the Roman Empire or the Renaissance or even the elitist philosophy of Confucianism circa 500 BC. Did not Nathan Mayer Rothschild have runners and messengers in boats speeding word to him of Napoleon’s defeat at Waterloo? And did he not engineer a panic on the London bond market, first dumping consols and then scooping up everyone else’s before the official news arrived at the marketplace? Did Buffett’s viewpoint on rescuing the banks weigh on the TARP vote? Probably. Maybe. But it’s not like Warren made it a secret that he was expecting this outcome. The New York Times op-eds about betting on America might have been your first clue, Sherlock.
2. Hardcore right-wingers and libertarians who are incensed at Buffett’s ideas about making the tax system more progressive and eliminating absurd loopholes like carried interest. They also despise Buffett’s general views on the government’s role in capitalism, his support for President Obama and his photo ops with Jay-Z. They’ll impugn the man’s business and investing record when they can find no rational arguments against the Buffett advocacy for smarter and more equitable tax laws. They’ll call him a hypocrite and slime him for his investments in banks and derivatives. But it’s about politics, they can’t see past it. And they’ll never bring up his charitable contribution of just about the entire fortune he’s amassed. (more…)
Risk Management
Risk, by nature, is chancy and probabilistic; you cannot directly manage risk.
You can manage your exposure to risk by entering buy and sell orders.
You Cannot Control Where the Ball Lands.
You can control the extent to which the ball effects you.
It's only a matter of time kings, queens, central bankers etc
Not the other way around
Great Thursday………………….For our Members.
Technically Yours/ASR TEAM
NAKED TRUTH
What explains the extraordinary success of Berkshire Hathaway?
SIX Life Lessons From 'The Wolf Of Wall Street'
Beyond being a fun movie, there are some lessons we can learn that can be important in our lives.
1. Sex matters.
When we’re talking about males and females (whether they are male and female monkeys, zebras, or human beings) sex matters. There’s a lot of sex in the movie, most of it raw, addictive, and not very pretty. But there is a primal vitality to desire for sex and more sex.
But sex matters in another way. Most of the young stock brokers, and hence the players, in this movie are males. In the “fun and games” that play out repeatedly these are clearly male fun and games. We all know that males and females are different (as well as similar in many ways), but the difference goes right down to our DNA.
According to David Page, M.D., one of the world’s leading experts on male and female genetic differences and professor of biology at the Massachusetts Institute of Technology (MIT):
“There are 10 trillion cells in human body and every one of them is sex specific. We need to build a better tool kit that is XX and XY informed rather than our current gender neutral stance. We need a tool kit that recognizes the fundamental difference on a cellular, organ, system, and person level between XY and XX.”
In Marianne Legato’s book, Eve’s Rib: The New Science of Gender-Specific Medicine, she says,
“Everywhere we look, the two sexes are startlingly and unexpectedly different not only in their internal function but in the way they experience illness.”
In all aspects of our lives, it’s good to ask, “what does sex have to do with it?”
2. Sex can be as addicting as cocaine. (more…)
The Great Trades Are Obvious
“The great trades don’t require predictions. The Soros trade of going short the pound in 1992 was based on something that had already happened — an ongoing deep recession that made it inevitable that the U.K. would not maintain the high interest rates required by remaining in the E.R.M. Afterward, everyone said, “That was incredibly obvious.”
“Most of the great trades are incredibly obvious. It was the same in late 2007. In my mind, it was clear that the financial system was imploding and that most market participants hadn’t noticed.”
– Colm O’ Shea, Hedge Fund Market Wizards