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Arbitrage Movie Trailer: Film About Hedge Fund Manager Played By Richard Gere

  
Education, Video
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Directed by Nicholas Jarecki, it stars Richard Gere, Susan Sarandon, Brit Marling, Tim Roth, and Nate Parker.  The trailer looks like it also features a cameo by CNBC’s Maria Bartiromo.  The movie will be released on September 14th, 2012.

Gere plays a hedge fund manager who is desperate to sell his trading empire before the depth of his fraud is exposed, but he makes an error that forces him to turn to an unlikely person for help.
The trailer makes it look like the film is less about finance and more about a drama and homicide case.  The film’s tagline is Arbitrage: Power is the Best Alibi.
Embedded below is the movie trailer for Arbitrage:

 

4 Steps

  
  Education
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The steps below are based on the developmental maturity of any trader. Each of us are at different levels in this process. This process can be applied to our overall progress as traders or in the learning of a new strategy. It is important for us to be realistic about where we are personally to become the best trader possible.

HEAR

To HEAR you have to listen and listen intentionally. You will not HEAR properly if you are focused on other things. This situation is especially true on a webinar or during the trading day when the markets are open. It is essential to set distractions aside and HEAR what is being stated.

RECEIVE

To RECEIVE something you have to HEAR it and come into agreement with it.  To RECEIVE is to take it unto yourself and personally grab hold of what you have heard and make it your own.

BELIEVE

To be successful you have to believe that what you HEAR and RECEIVE can add value to your current situation. You have to BELIEVE that a specific strategy repeated and correctly  executed, regards of any specific outcome, will provide successful results over time. You will act on what you believe In all areas of life.  Please make sure you really do BELIEVE it and are not allowing any contradictory mindset to compete with your belief because it is possible to hold two opposing beliefs at once. This is being double minded and leads to instability.  Being firm and unswayed in what you BELIEVE can lead to becoming a successful trader.

APPLY

APPLY Is taking action on what you BELIEVE. You will not fully apply something until you fully believe it. Application requires action. You must be willing to pull the trigger on a trade when all of your rules are meet or when all the T’s have been crossed.  You must also without reservation pull the trigger to exit at your predetermined stop loss. Regardless of what we think or BELIEVE we will also act out of core or dominant belief. To properly apply ourselves we have to revise our core beliefs.  If I APPLY all of my predefined rules for entry and exit even when the trades go against me, my core belief will keep me confident that I did the right thing in making this trade and over time I will accomplish my goals. In addition my loss will not stress me because based on following my predefined rules it was a small loss based on a predetermined, well thought out process.

As we move forward we should focus on hearing , receiving, believing and applying.

Success

  
  Education
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Success does not come from having one’s work recognised by others. It is the fruit of the seed that you lovingly planted.

When harvest time arrives, you can say to yourself: ‘I succeeded.’

You succeeded in gaining respect for your work because you did not work only to survive, but to demonstrate your love for others.

You managed to finish what you began, even though you did not foresee all the traps along the way. And when your enthusiasm waned because of the difficulties you encountered, you reached for discipline. And when discipline seemed about to disappear because you were tired, you used your moments of repose to think about what steps you needed to take in the future.
You were not paralyzed by the defeats that are inevitable in the lives of those who take risks. You didn’t sit agonising over what you lost when you had an idea that didn’t work.
You didn’t stop when you experienced moments of glory, because you had not yet reached your goal.
And when you  have to ask for help, you did not feel humiliated. And when you learned that someone needed help, you showed them all that you had learned, without fearing that you might be revealing secrets or being used by others.
To him who knocks, the door will open.
He who asks will receive.
He who consoles knows that he will be consoled.

Nassim Taleb’s Risk Management Rules

  
  Education
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Rule No. 1- Do not venture in markets and products you do not understand. You will be a sitting duck.

Rule No. 2- The large hit you will take next will not resemble the one you took last. Do not listen to the consensus as to where the risks are (that is, risks shown by VAR). What will hurt you is what you expect the least.

Rule No. 3- Believe half of what you read, none of what you hear. Never study a theory before doing your own observation and thinking. Read every piece of theoretical research you can-but stay a trader. An unguarded study of lower quantitative methods will rob you of your insight.

Rule No. 4- Beware of the nonmarket-making traders who make a steady income-they tend to blow up. Traders with frequent losses might hurt you, but they are not likely to blow you up. Long volatility traders lose money most days of the week.

Rule No. 5- The markets will follow the path to hurt the highest number of hedgers. The best hedges are those you alone put on. (more…)

What does it mean to be emotionally intelligent?

  
  Education
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EMOTIONAL IntelligentIn the book Emotion, Disclosure, and Health edited by James W. Pennebaker, a chapter on emotional intelligence research yields some valuable insights–and ways of assessing emotional intelligence. The chapter, written by Peter Salovey and colleagues, describes the Trait Meta-Mood Scale and its development as a research tool.

The authors report that emotional intelligence is composed of several interrelated capacities:

1) Attention – The degree to which people pay attention to their feelings and value them as sources of information;

2) Clarity – The degree to which people accurately identify and understand their feelings;

3) Mood Repair – The degree to which people can control and shift their emotional experience. (more…)

To Wit

  
Education, Humour, Life
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Those who jump off a bridge in Paris are in Seine.

A man’s home is his castle, in a manor of speaking.

Practice safe eating—always use condiments.

Shotgun wedding—a case of wife or death.

A man needs a mistress just to break the monogamy.

A hangover is the wrath of grapes.

Reading while sunbathing makes you well red.

When two egotists meet, it’s an I for an I.

A bicycle can’t stand on its own because it’s two tired.

What’s the definition of a will? (It’s a dead give away).

She was engaged to a boyfriend with a wooden leg but broke it off.

If you don’t pay your exorcist, you get repossessed.

The man who fell into an upholstery machine is fully recovered.

A lot of money is tainted—taint yours and taint mine.

He had a photographic memory that was never developed.

Once you’ve seen one shopping center, you’ve seen a mall.

Bakers trade bread recipes on a knead-to-know basis.

Santa’s helpers are subordinate clauses.

Acupuncture is a jab well done.

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