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Further reports that majority of US House now backs impeachment proceedings against Trump

US media reporting, get this …. “breaking” news :

  • A majority of the House now backs impeachment proceedings against President Donald Trump: 218 lawmakers
Its not my intention to be the leader of the pack on impeachment reporting, I post whatever is relevant to markets. Maybe I just got lucky this time being so early with this news.
US media reporting, get this …. "breaking" news :

Ignoring The Herd

Sir John Templeton said, “To buy when others are despondently selling and to sell when others are euphorically buying takes the greatest courage, but provides the greatest profit.”

Then, this is what Warren Buffett says, “The less prudence with which others conduct their affairs, the greater the prudence with which we should conduct our own affairs.” In other words, Buffett is urging us to do the opposite of what others do: to be contrarians.

“Buy low, sell high” is the time-honoured dictum, but investors who are swept up in market cycles too often do just the opposite. Here is what Howard Marks writes in his book, The Most Important Thing –

“The proper response lies in contrarian behaviour: buy when they hate ’em, and sell when they love ’em. “Once-in-a-lifetime” market extremes seem to occur once every decade or so— not often enough for an investor to build a career around capitalizing on them. But attempting to do so should be an important component of any investor’s approach.”

Now, of course, being a contrarian is not going to be a profitable strategy at all times. After all, much of the time there aren’t great market excesses to bet against. And even when an excess does develop, it’s important to remember that “overpriced” is incredibly different from “going down tomorrow.” (more…)

Nassim Taleb's Six Rules For Succeeding In Life

TalebSuccess in all endeavors is requires absence of specific qualities.
1) To succeed in crime requires absence of empathy,
2) To succeed in banking you need absense of shame at hiding risks,
3) To succeed in school requires absence of common sense,
4) To succeed in economics requires absence of understanding of probability, risk, or 2nd order effects and about anything,
5) To succeed in journalism requires inability to think about matters that have an infinitesimal small chance of being relevant next January, 
…6) But to succeed in life requires a total inability to do anything that makes you uncomfortable when you look at yourself in the mirror.

James Montier's 7 Immutable Laws Of Investing

1. Always insist on a margin of safety
2. This time is never different
3. Be patient and wait for the fat pitch
4. Be contrarian
5. Risk is the permanent loss of capital, never a number
6. Be leery of leverage
7. Never invest in something you don’t understand