"If you don’t have an edge and can’t articulate it, you probably aren’t going to outperform."
Archives of “January 23, 2019” day
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There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future. You can also lose a good bet, but if you keep placing good bets, over time, the law of averages will be working for you.”
“Life is nothing more than a series of bets and bets are really nothing more than questions and their answers. There is no real difference between, ’should I take another hit on this Blackjack hand?’ and ‘Should I get out of the way of that speeding and wildly careening bus?’ Each shares two universal truths: a set of probabilities of potential outcomes and the singular outcome that takes place. Everyday we place hundreds if not thousands of bets – large and small, some seemingly well considered and others made without a second thought. The vast majority of the latter, life’s little gambles made without any thought, might certainly be trivial. ‘Should I tie my shoes?’ Seems to offer no big risk, nor any big reward. While others, such as the aforementioned ’speeding and wildly careening bus’ would seem to have greater impact on our lives. However, if deciding not to tie your shoes that morning causes you to trip and fall down in the middle of the road when you finally decide to fold your hand and give that careening bus plenty of leeway, well then, in hindsight the trivial has suddenly become paramount.”
Hitler was on 82 different drugs
Maybe that’s why he was such a “sick” bastid?took a primitive form of Viagra when he tried to have sex with Eva Braun, a new book on the Fuhrer’s fragile health has claimed.
Adolf Hitler also
Based on long-dormant medical archives and formerly classified military documents, it claimed the dictator was so afraid of pills that most of his medication was injected.
The authors of the book, titled Was Hitler Ill?, claimed he took 82 different sorts of medication during his rule of Nazi Germany including the primitive “Viagra”, which was a testosterone extract.
The book is largely based on papers from Dr. Theodor Morrell, regarded as a quack among many in the upper echelons of Nazism, who Hitler came to rely on with increasing urgency during the war.
The less-than-flattering nickname “Reich syringe master” was given to him by Luftwaffe chief Hermann Goering, himself a morphine addict by war’s end. (more…)
Four Poisons
There is a Korean martial art called Kum Do. This is a brutal game that involves a fight to the death with very sharp swords. The way it is practiced today is with bamboo sticks, but the moves are the same. Kum Do teaches the student warriors to avoid what are called “The Four Poisons of the Mind.” These are: fear, confusion, hesitation and surprise. In Kum Do, the student must be constantly on guard to never anticipate the next move of the opponent. Likewise, the student must never allow his natural tendencies for prediction to get the better of him. Having a preconceived bias of what the markets or the opponents will do can lead to momentary confusion and—in the case of Kum Do—to death. A single blow in Kum Do can be lethal, and is the final cut, since the object is to kill the opponent. One blow—>death—>game over.
Instead of predicting, anticipating, and being in fear and confusion, you must do exactly the opposite if you are to survive a death blow from the market movements. You must watch with a calm, clear and collected attitude and strike at the right time. A few seconds of anticipation, hesitation or confusion can mean the difference between life and death in Kum Do—and wins or losses in the stock markets. If you are not in tune with the four poisons of fear, confusion, hesitation or surprise in the markets, you are at risk for ruin. Ruin means that your money is gone and the game is over.
How can you avoid the four poisons of the trading mind: fear, confusion, hesitation and surprise? (more…)
Rating the Robo-Advisors
Feng shui and the art of making money
The ancient Chinese geomantic practice of feng shui still carries huge influence in Hong Kong, with its philosophy permeating all aspects of society and the economy in this money-driven territory of gleaming office towers.
Under the feng shui system, the auspicious positioning of objects is believed to ensure harmony, health and fortune. Many in Hong Kong resort to feng shui when making almost all important decisions, especially in choosing and configuring sites and structures, to ensure good luck, especially when it comes to making money.
The system revolves around the philosophy of “chi,” or vital energy held to animate the body, and is designed to allow people to interact in harmony with the environment.
One Japanese woman living in Hong Kong said feng shui has come to affect just about every important decision for her family, including the selection of the day of her marriage to a local man and the name of their child.
How seriously people in Hong Kong take this tradition can be seen in the big holes deliberately made in the sides of buildings and in the popularity of wells. (more…)
Kyle Bass on Japanese equities, yen correlation
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5 brilliant insights from Kyle Bass
1.) “There’s no true science to it, it’s an Art”
2.) He has an incredibly high level of conviction with his trades
3.) He’s a master of structuring his trades
4.) “The past doesn’t necessarily tell you how the future will play out”
5.) His Fund’s strategy is a hybrid between Global Macro and Event Driven
More, and video interview, at the link
Every airline flight in the world over a 24-hour period
5 Trading Thoughts
Gut feel is very important. Being a successful trader also takes courage; the courage to try, the courage to fail, the courage to succeed, and the courage to keep If trading is your life, it is a tortuous kind of excitement. But if you are keeping your life in balance, then it is fun. All the successful traders have a balanced life; they have fun outside of trading. The first rule of trading is that don’t get caught in a situation in which you can lose a great deal of money for reasons you don’t understand. Place your stops at a point that, if reached, will reasonably indicate that the trade is wrong, not at a point determined primarily by the maximum dollar amount you are will to lose per contract. A common mistake is to think of the market as a personal nemesis. The market, of course, is totally impersonal; it doesn’t care whether you make money or not. |
Always Remember This ….
