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Major indices post 2 day winning streak. Amazon and Google beat on earnings. Bezos to step down from CEO role

  
Analysis, US Market
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S&P post the best day to day performance since November

The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close.

The final numbers are showing:
  • S&P index +52.37 points or 1.39% at 3826.24
  • NASDAQ index up 209.38 points or 1.56% at 13612.77
  • Dow industrial average rose 476.23 points or 1.58% at 30688.14

After the close, both Google and Amazon have beaten on the top and bottom lines. Alphabet shares are currently trading up 4.21% to near $2000 a share.

Alphabet had
  • revenues of $56.90 billion vs. $53.13 billion estimate
  • earnings-per-share came in at $22.30 cents vs. $15.90 cents estimate
For Amazon, CEO basis said that he will transition to role of executive chair. Andy Jassy will become the new CEO of Amazon.  Jassy is a long time Amazon employee and built AWS.  The announcement is a surprise. Amazon’s basals is to focus on new products and early initiatives according to the headline news.
Amazon shares are currently trading higher by about 1.3% and volatile trading.
For Amazon:
  • Earnings-per-share came in at $14.09 vs. $7.34 estimate
  • net sales came in at $125.56 billion vs. 119.70 billion

The Secrets of The World’s Greatest Traders

  
  Education
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Traders and investors have made and lost some of the world’s most significant pools of wealth.  It’s no coincidence that many of the wealthiest individuals in the world today (and through history) have been successful investors.  Names like Warren Buffet, George Soros, John Paulson, David Einhorn, Bill Gross and Sir John Templeton have become synonymous with strategies that have created astonishing success, in many case creating a groundswell of books and analysts who study their lives with a toothcomb to understand “what” the magic formula was…

Even outside these heavyweights of the trading world, hundreds of thousands of individuals around the world attest to have ‘the best‘ strategy to generate consistent positive returns (in fact, Google alone reveals over 10.4 million results when searching for best trading strategies). At a macro-level, the long-standing efficient market hypothesiswould make it notionally impossible for any trading strategy to be effective (as it asserts a level of information efficiency in the market).  The past quarter century however, has seen a gradual move away from the efficient hypothesis to greater considerations of information asymmetry and behavioral biases driving inefficiencies (opportunities) in the market.  So faced with this complexity, how do some traders generate such astonishing success?

To learn more, I spoke with Jack Schwager who is perhaps best known for his “Market Wizards” book series in which he has interviewed a cross section of the most successful traders and investors in the world.  In May 2012 Jack released the latest book in this best-selling series, “Hedge Fund Market Wizards” (a behind-the-scenes look at the world of hedge funds, from fifteen traders who’ve consistently beaten the markets).

Jack Schwager is a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. He is currently the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to Marketopper, an India-based quantitative trading firm, supervising a major project that will adapt their trading technology to trade a global futures portfolio.  Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm, which specialized in creating customized hedge fund portfolios for institutional clients.  His previous experience includes 22 years as Director of Futures research for some of Wall Street’s leading firms and ten years as the co-principal of a CTA.

Q: Is there a strategy or style which is most effective at generating return?

 [Jack Schwager] The diversity of strategies people use is truly remarkable, I saw people using completely different strategies to the degree that if I had set out to invent 15 different strategies for a fictional work…. I couldn’t have made the strategies more different to the ones I saw in real life!  This illustrates a point I have made in all my works insofar as there really is no ‘holy grail‘ or single style that is most effective.  Those people looking for a single unified strategy are not asking the right question.

It’s a matter of finding an approach that works for the individual.  A person has to know whether they are comfortable with fundamental or technical, long term or short term, certain types of markets, wider risk or less risk… You can go through a whole checklist of things and find it’s different for each individual.

Even when looking at differences between asset classes we see that every market can be traded using different strategies be they fundamental, technical, or a mixture.  If we take equity markets we see that traders can use strategies including fundamental, value, extreme long term, and day.   If you want a microcosm that proves diversity, there it is! (more…)

Tech Gained $1.7 Trillion in 2017

  
Analysis, Education
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“Between the FAANG quintet and China’s rivaling BAT companies, gains in the world’s top technology shares are nearing a whopping $1.7 trillion in market value this year.
That’s more than Canada’s entire economy, and exceeds the worth of Germany’s biggest 30 companies put together. The eight tech giants — Facebook Inc., Amazon Inc., Apple Inc., Netflix Inc. and Google parent Alphabet Inc., as well as their Asian peers Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — have amassed as much money in 2017 as Pacific Investment Management Co., one of the world’s biggest fund managers, has done in about 46 years.” (emphasis added)

The chart nearby shows some comparison veresus, DAX, Pimco and Canada!
 
Monster Tech Gains 2017 YTD
click for ginormous graphic

20 Most Expensive Google Adsense Keywords

  
Analysis, Education
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Where Does Google Make Its Money? [ infographic ]

Cord Blood?
 
http://en.wikipedia.org/wiki/Cord_blood
Umbilical cord blood is blood that remains in the placenta and in the attached umbilical cord after childbirth. Cord blood is collected because it contains stem cells which can be used to treat hematopoietic and genetic disorders
 

Google Commercial- 6 Lac Hits in 2 Days (Really Great )

  
Education, Video
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Google commercials have always been quite engaging. Google India is out with a 3.5 minute heart-warming advertisement titled ‘Google Search: Reunion’. The Reunion advertisement tells you a story of how two friends got separated during the time of India and Pakistan partition. The Indian grand daughter Suman plans to bring them together again and uses Google search as the medium to search for her grand fathers long lost friend in Pakistan. She succeeds using Google search and its allied services.
Reports suggest this is the first in the series of 5 advertisements. The video is touching half a million views in just a day of its launch.

Google Chairman Predicts the End of Internet

  
  Education
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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…)

10 Trading Lessons for 2011

  
  Education
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1)You can’t succeed overnight. Most retail/aspiring traders get hooked on trading because they want money and they want it NOW! Over-trading, scalping, over-leveraging, random decisions, greed and the mirage of getting rich quick will turn trading into gambling.

A common sense rule says that – in order to make a lot of money fast, you either 1) steal, 2) you are a genius inventing or discovering something new, something that everyone will use or buy from you (like Google, Facebook, Angry Birds) or 3) gamble, if you are really lucky.

Learn from your own mistakes, don’t repeat them, practice and persevere. It doesn’t matter if you count Elliott waves better than anyone else or if you anticipate a rate hike 6 months in advance. It only matters how you control your emotions and your money.

2) Focus your efforts on the things that work best for you. If there is one trading strategy that works for you, then stick to it as long as it works. Don’t waste time testing everything you find on the Internet and don’t listen to everything you hear or read. Too much information can lead to confusion, difficult choices and failure – eventually.

3)Losing is part of the game but recovering is not an easy task and requires smarter trading decisions.

Have you ever been on a diet?
Common sense rule, again: if you have gained 40 lbs. (18 kg) in 1 year, don’t expect to lose 40 lbs. in 2 weeks. It takes a lot of work to get rid of them.
So if your trading account is down 50% after 2 months, you’ll have to double your remaining equity to break even. Will that be easy? I doubt.

4)Making mistakes is normal but rather than give up, try to learn something from your own trading mistakes, bad strategies, emotions etc.
If you don’t succeed, you aren’t out of the game.

Make a list of things that didn’t work – check it regularly so you don’t forget them. Avoid them in the future.

5)If you keep doing the same thing and you are constantly losing, it’s obvious that you are doing something wrong. Is your trading strategy constantly giving poor results? Change it. Are you always predicting the wrong market direction? Stop predicting – trade what you see, not what you think or expect.

If you want to achieve different results, then you must change your actions. (more…)

A Monster $69 Trillion Order Wreaked Havoc On The Stockholm Stock Exchange

  
Analysis, Education
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Trading was halted in index derivatives on the Stockholm Stock Exchange today after a monster futures order valued at around $69 trillion appeared in the system, according to Swedish business newspaper SvD Näringsliv.

 The “trade” was a buy order for nearly 4.3 billion OMXS30 warrants (valued at nearly 460 trillion kronor), an amount over 131 times Sweden’s GDP. The OMXS30 is the exchange’s flagship stock index, and the error apparently caused enough problems to force a closure of the market.

A report in Investment Europe said that despite safeguards, “somehow the order made its way into the order book, causing chaos for traders.”

SvD Näringsliv’s Gustaf Palm reports (via Google Translate):

According to the Exchange spokesman Carl Norell has no order of that size team into the system. Instead, it is about a parsing incurred in exchange system due to a technical error. The order, Norell writes in an email, anullerades, but still remains a problem why the index derivatives market is closed since just before 10 am this morning.

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