Archives of “January 2019” month

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This House Was 3D-Printed In Under 24 Hours At A Cost Of Just $10,000

  
Analysis, Education

While 3D-printing may have been faded away in recent years from the spotlight of core “disruptive” technologies, that may soon change again after a company managed to 3D-print an entire house in just 24 hours. Located in Russia, the following 400-square-foot home, or 37 square meters, was built in just a day, at a cost of slightly over $10,000.

As profiled in the Telegraph, the company Apis Cor, 3D-printing specialists based in Russia and San Francisco, built the house using a mobile printer on-site. According to the company, the walls of the building were printed and painted in just 24 hours.
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The 11 takeaways for investors from Max Gunther’s How to Get Lucky:

  
Analysis, Education
  1. Distinguish between luck and planning
    • Your investment results have a healthy dose of luck in them. Internalise this so you don’t feel invincible after a good year or question your intelligence after a bad year.
  2. Find the fast flow
    • Instead of taking this to mean show up at every investor conference, find meaningful ways to engage with people who apply different investment philosophies.
  3. Take risk in measured spoonfuls
    • Learning to invest is like learning to ride a bike or swim. You have to get in there and put small amounts at risk to understand what works for you. At the same time, never with amounts, you can’t afford to lose.
  4. Cut runs
    • When a stock you own starts rising rapidly because a bunch of favourable factors aligned, don’t target riding it all the way. Be ok with exiting sometime before the peak.
  5. Select your luck
    • Don’t let your ego or loss aversion get in the way of sticking with a poor stock even as it declines gradually. Cut your losses.
  6. Take the zigzag path
    • Maybe you have the instincts of a trader. Maybe your skill is in finding obscure micro-caps. Or cyclicals. Or contrarian large caps. Every successful investor is successful in her own way. Explore a little to find your way.
  7. Be a pragmatic supernaturalist
    • Corollary to point 1, sometimes luck overshadows supreme skill. Sometimes you get good results without a good process. Stay humble.
  8. Visualise the worst case
    • Avoid leverage. Size your positions.
  9. Stay silent
    • That urge to tweet about a pick that’s gone up 25% in the last week. Resist it so you can exit the position without feeling like you will lose face.
  10. Recognize non-lessons
    • “Stocks fall in election years” / “Stocks rise in election years”. Wrong. “It’s an election year, stocks will be more volatile than usual”
  11. Accept an unfair universe
    • The stock market does not owe you returns. Not even if you first lost money in Satyam and then again in Educomp.

The last two “Be a juggler’ and “Find your destiny partner” don’t seem to carry over to investing.

Life is too short

  
Analysis, Education
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The great thing about trading is that if you’re good enough at in, you’ll never have to work again.

But whether you’re working or not; making money or not; the one thing you can’t buy is time. It’s Summer and it’s the weekend, so enjoy what life has to offer.

It’s with sadness that I read about the death of John Noyce. He was a foreign exchange technical analyst at Goldman Sachs and wrote “The Charts That Matter Next Week”. He was 36 and died of cancer last week

GEMS from :The Daily Trading Coach

  
  Education
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The Daily Trading Coach covers just about any psychology or behavioral issue  the trader may face.  I cannot help but recommend it.  There are 101 lessons here divided into 10 chapters.  Let’s dig into each chapter and uncover a gem within.

Today again completed reading this Book…Yes 5th time !!

1. The Process and the Practice:  “Confidence doesna’t come from being right all the time: it comes from surviving the many occasions of being wrong” (27). 

2. Stress and Distress:  “Thinking positively or negatively about performance outcomes interfere with the process of performing.  When you focus on the doing, the outcomes take care of themselves” (56). 

3.  Psychological Well-Being:  “We can recognize the happy trader because he is immersed in the process of trading and finds fulfillment from the process even when markets are not open” (72).

4.  Steps Toward Self-Improvement:  “Your trading strengths can be found in the patterns that repeat across successful trades” (105).

5.  Breaking Old Patterns:  “Many trading problems are the result of acting out personal dramas in markets” (133)

6.  Remapping the Mind: “When we change the lenses through which we view events, we change our responses to those events” (168)

7.  Learn New Action Patterns: “Find experienced traders who will not be shy in telling you when you are making mistakes.  In their lessons, you will learn to teach yourself” (203)

8.  Coaching Your Trading Business:  “Long before you seek to trade for a living, you should work at trading competence: just breaking even after costs” (230)

9.  Lessons From Trading Professionals:  “If you don’t trust yourself or your methods, you will not find the emotional resilience to weather periods of loss” (267)

10.  Looking For the Edge: “The simplest [trading] patterns will tend to be the most robust” (311).

And a final admonition:  “Know what you do best. Build on strengths. Never stop working on yourself. Never stop improving. Every so often, upset the apple cart and pursue wholly new challenges.  The enemy of greatness is not evil; it’s mediocrity.  Don’t settle for mediocre” (341).

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