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Emotional Makeup is More Important Than Intelligence

  • I haven’t seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.
  • As I recall more than half the course revolved around developing the right attitude, guarding against debilitating emotions, how to think about risk, and how to handle success and failure.
  • Teaching the turtle system itself doesn’t take very long. I was saying you need less than 12 degrees of freedom in a system; versions of the turtle system had three or four.
  • We spent a lot of time talking about our theories on how to control risk; that was actually the bulk of the course. Attitude, emotional control, discipline; those things are harder to teach. All the turtles learned the system and learned the strategy; that was the easy part, but some of them brought the right attitude and right mental set to it and they prospered and became very rich. Others had a more halting career and did not succeed as well. They had the same training, but maybe they did not have the same emotional make-up.

Top 10 Most Expensive and Cheapest Stock Markets

… look at the table ranking the top and bottom 10 countries by PE10 valuation. The bottom features a couple of usual suspects (Russia and Greece), although in the case of Greece you might argue that earnings are now structurally lower so the PE10 is less useful for that particular market. At the top end, it’s likewise many usual suspects: America and a selection of high growth Asian countries (and Japan). While there are some similarities between those at the top and bottom it’s hard to make a broad sweeping statement which generalizes the two groups  – 
Expensive and Cheap Global Stock Markets

The Wisdom Of Simplicity

“The art of art, the glory of expression and the sunshine of the light of letters, is simplicity.” ~ Walt Whitman

Life is simple; we only make it complex. We spend our lives unconsciously covering our authenticity with outer identity until at some point we begin wondering “where everything went wrong.” But the tragedy for many people is that the wondering never begins and life’s simple beauty is not rediscovered.

I use the word “rediscovered” because you already know that life can be simple because you experienced it as a child. If you are normal, you spent much of your life since then trying to become something other than yourself. But normal is not healthy; success in the unreal world means failure in the real one.

The power and virtue of simplicity is a universal truth; it’s wisdom applies to all areas of life. What are some ways you can declutter, simplify and return to your authentic Self? Here are a few ideas that can help.

  • Instead of finding new things to add to your life, find things to remove.
  • If you want to increase income, decrease expenses.
  • Do less thinking and do more wondering.
  • Turn down the noise.
  • Go to the woods.
  • Listen to a child. (more…)