- If you have the desire, you are halfway there.
- If you do your best, don’t mind the rest.
- If you can’t control the wind, adjust your sail.
- If you are headed in the wrong direction, God allows U-turns.
- If you can imagine it you can achieve it. If you can dream it, you can become it.
- If you don’t stand for something, you’ll fall for anything.
- If you aim at nothing, you’ll hit it every time.
- If you have much, give of your wealth; if you have little, give of your heart.
- If you always do what you always did, you’ll always get what you always got.
- If you depend on others to make you happy, you will be endlessly disappointed. (more…)
Archives of “January 22, 2019” day
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China Stunner: Real GDP Is Now A Negative -1.1%, Evercore ISI Calculates
With Chinese data now an official farce even among Wall Street economists, tenured academics, and all others whose job obligation it is to accept and never question the lies they are fed, the biggest question over the past year has been just what is China’s real, and rapidly slowing, GDP – which alongside the Fed, is the primary catalyst of the global risk shakeout experienced in recent weeks.
One thing that everyone knows and can agree on, is that it is not the official 7% number, or whatever goalseeked fabrication the communist party tries to push to a world that has realized China can’t even manipulate its stock market higher, let alone its economy.
But what is it? Over the past few months we have shown various unpleasant estimates, the lowest of which was 1.6% back in April.
Today we got the worst one yet, courtesy of Evercore ISI, which using its own GDP equivalent index – the Synthetic Growth Index (SGI) – gets a vastly different result from the official one, namely Chinese growth of -1.1% annually. Or rather, contraction.
To wit, from Evercore:
Our proprietary Synthetic Growth Index (SG!) fell 1.1% mim in July, and was also down 1.1% y/y. No wonderglobal commodities are so weak. The most recent 18 months have been much weakerthan the 2011-13 period. Even if we adjust our SG I upward (for too-little representation of Services — lack of data), we believe actual economic growth in China is far below the official 7.0% yly. And, it is not improving, Most worrisome to us; the ‘equipment’ portion of Plant & Equipment spending is very weak, a bad sign for any company or country. Expect more monetary and fiscal steps to lift growth.
And here is why the world is in big trouble.
Toyota apologises before the US Congress
10 Most Ridiculous Things Bought By Billionaires-VIDEO
Poker and Trading…Some Rules Applicable to Both.
Pay Attention…and It Will Pay You. Concentrate on everything when you are playing/trading. Watch and listen; remember to do both and relate the two.
Understand When to Play Aggressively…It’s the Winning Way. Don’t be a tight or a loose player/trader; be a solid one and recognize when it is time to press your bets/positions. To attain superior returns in poker and investing over the long run, grind it out (in stocks until you are up 30%-40%, and then if you have convictions, go for a 100% year). If you can avoid losing and put together a few 100% years, you can achieve outstanding long-term investment performance.
Tells: Look For Them and You Will Find Them. Poker players and stock markets have tells — giveaway moves that are very revealing. Learn to recognize them. History is your textbook.
ESP…It’s a Jellyroll. In those rare instances when all your card knowledge and market judgment/knowledge leaves you in doubt, go with your strong feelings and not against it.
Honor: A Gambler/Trader’s Ace-in-the-Hole. A good reputation and respect from others will put you in good stead.
Be as Competitive as You Can Be. Go into a poker game and into a trade with the idea of completely destroying your opponent or scoring a major investment coup. If you win a pot or make a successful trade, nearly always play the next pot or make the next trade shortly thereafter — within reason. Although the cards and trades might break even in the long run, rushes do happen and momentum often feeds upon itself. When you earn the right to be aggressive, you should be aggressive. When one has a tremendous conviction in a poker hand or trade, you have to go for the jugular.
Art and Science…It takes Both. Both activities are more art than science — that’s why they are so difficult to master. Knowing what to do is about 10% of the game. Knowing how to do it is the other 90%.
Money Management. The same sound principles of money control apply to the business of tournament/professional poker and to successful investing. The way to build long-term returns or poker winnings is through preservation of capital and home runs.
The Important Twins of Poker/Investing, Patience and Staying Power. Come to the poker table or to the markets with enough time to stay and play for a while.
Alertness is a Key. You must stay alert at all times.
So is Discipline.
Never Let Your Mind Dwell on Personal Problems. Never play/trade when you are upset. Make a conscious and constant effort to discover any leaks in your play, and then eliminate them.
Control Your Emotions. Allowing your confidence to be shaken can turn a simple losing streak into a terrible case of going bad. Keep your emotions in check. When you lose a pot or make a poor investment decision, get up, walk around the chair or take some deep breaths. Don’t lose your poise. If a trade or poker hand does not work out, walk away from the position/hand. Be confident enough about your ability to win afterwards.
Google Chairman Predicts the End of Internet
Speaking at the World Economic Forum in Davos, Switzerland on Thursday, Google Executive Chairman Eric Schmidt said that the internet will become so ubiquitous that it will “disappear,” CNET reports.
When asked about his views on the future evolution of the web, the Google Chairman stated that he would “answer very simply that the internet will disappear.” Schmidt explained “there will be so many IP addresses…so many devices, sensors, things you are wearing, things that you are interacting with that you won’t even sense it; it will be part of your presence all the time.”
“Imagine you walk into a room, and the room is dynamic. And with your permission and all of that, you are interacting with the things going on in the room. A highly personalized, highly interactive and very, very interesting world emerges,” he noted.
Schmidt was speaking at a panel dubbed “The Future of the Digital Economy,” along with top executives from Vodafone, Facebook, and Microsoft.
Privacy Concerns (more…)
"Markets have consistently experienced once in a 100-year events every five years" – Paul Tudor Jones
Trading Quotes from Trading Books
“There is only one side to the stock market; and it is not the bull side or the bear side, but the right side”
Comparing Paper Trading vs. Real Trading
“Are you a good shot?” “I can snap the stem of a wine glass at twenty paces” “That’s all well, but can you snap the stem of a wine glass while the wine glass is pointing a loaded pistol straight at your heart?”
“A man must believe in himself and his judgement if he expects to make a living at this game. That is why I don’t believe in tips. If I buy stocks on Smith’s tip, I must sell those stocks on Smith’s tip. I am depending on him”
“Speculation is a hard and trying business, and a speculator must be on the job all the time or he’ll soon have no job to be on”
“The more I made, the more I spent. This is the usual experience with most men. No, not necessarily with easy-money pickers, but with every human being who is not a slave of the hoarding instinct. Some men, like old Russell Sage, have the money-making and the money-hoarding instinct equally well developed, and of course they die disgustingly rich”
“If a stock doesn’t act right, don’t touch it; because being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit”
“The big money was not in the individual fluctuations but in the main movements-that is, not in reading the tape but in sizing up the entire market and its trend” (more…)
There are many ways to trade. The 'right' way is the way that is profitable for you.
