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Learn to be wrong and Who cares?

  
Analysis, Education
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1.) Learn to be wrong. Traditional education trains us into thinking that we have to be right to get the grade. With investing and trading, focusing on being right will bring assymetric risk to your methodology and will eventually lead to a blowout at least once. – Steven Place

2.) First, invest in yourself.  That is, acquire as much knowledge as possible and analytical skills in a wide variety of disciplines and develop the ability to abstract yourself from the present. Become a mathematician, economist, political scientist, psychologist, sociologist, and futurist. – Gary Evans

3.) You are not a market-timing genius and neither is anyone selling services to you! There is a long-term path to progress, with several good ways to get aboard.  Be interested, be watchful, but do not be too confident. – Jeff Miller

4.) First, understand that ultimately you are responsible for the outcome of your investments and that they shouldn’t blame bad markets, bad advisors, or bad luck if they lose money.  Secondly, always try to stay as objective and unemotional as you can about what you invest in.  And lastly, remember that discipline and risk management is the key.  You can lose all the profits from five well managed trades or investments with one poorly managed one. 

BOJ’s Kuroda: Economic activity has gradually resumed

  
Analysis, Economy
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BOJ governor, Haruhiko Kuroda, begins his press conference

Kuroda
  • But Japanese economy remains in an extremely severe siituation
  • Pace of recovery to only be moderate
  • Inflation is likely to be negative for the time being
  • Future economic developments remain extremely unclear
  • Risks are tilted to the downside for prices, economic growth
  • BOJ won’t hesitate to ease further if needed
  • Will continue to support corporate financing, markets
Kuroda is still maintaining a more subdued take on the economic situation but that is hardly a surprise. The recent economic data from Japan have been rather poor and a possible virus resurgence only adds to more risks surrounding the outlook.
But Kuroda stands firm in assuring that the BOJ policies since March are having an impact, though I’m sure they pretty much lucked out on this one with the Fed and ECB doing most of the heavy lifting to appease financial risks in the market for the most part.

Nikkei 225 closes higher by 2.22% at 22,784.74

  
Analysis, Global Indices
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Asian equities buoyed to kick start the new week

Nikkei 13-07

It has been a solid session for Asian equities, with the Nikkei closing at a one-month high while we are also seeing the Hang Seng post 1.1% gains and the Shanghai Composite also seen higher by 1.9% currently.

The positive spillovers from US trading at the end of last week is helping, but also the fact that US futures are keeping more optimistic so far today.
Some market participants are pointing to this Pfizer, BioNTech vaccine story as a factor, following the more positive results that were reported two weeks ago here.
In any case, risk is on and the market is looking to keep the more positive mood going into European trading today. As such, the dollar is weaker across the board alongside the yen, with AUD/USD hovering around 0.6980 currently.
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