When I said that Australia was becoming more like Japan I didn’t mean trains that were blisteringly fast and on time or clean and crime free streets. I meant in terms of almost impenetrable bureaucracy that is a blight on the country. Australia has the unique habit of adopting the worst other countries have to…
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It is being reported widely that the drop in the Nikkei on Friday is the largest since the 1987 crash. In absolute terms this is true – in relative terms it is nonsense. If you work in a field outside of finance that uses risk as a measure then you will understand the distinction between…
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Once again we find financial pundits proclaiming the end of the world. As with most things, the true picture is much more nuanced. <
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From discussing the inherent challenges traders face to practical strategies for overcoming them, this interview promises to be a game-changer for anyone looking to enhance their trading performance. Join us as we explore topics like shifting the odds in your favour, closing the behavioural gap, and navigating setbacks with resilience. Don’t miss out on this…
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When traders look at the returns from various trading systems and ideas they are instantly drawn to the percentage return. This is the last thing you should look at because it is the first thing used to lie to you.
Investors love talking about ‘skin in the game’. It has become something of a truism that a fund manager with substantial sums of their own money invested in their strategy will make better decisions. Not only is this a dubious generalisation but it also overly simplifies what can be quite a messy incentive problem. Skin…
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“I’m thrilled to announce the release of my latest book, Investing Psychology Secrets. It’s a culmination of years of experience, research, and, of course, all the insightful discussions we’ve had on this podcast.
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In 1976, a professor of economic history at the University of California, Berkeley published an essay outlining the fundamental laws of a force he perceived as humanity’s greatest existential threat: Stupidity. Stupid people, Carlo M. Cipolla explained, share several identifying traits: they are abundant, they are irrational, and they cause problems for others without apparent benefit…
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Hendrik Bessembinder’s latest paper asks the question – which US stock has generated the highest long-term returns?[i] The answer is Altria Group (formerly known as Philip Morris). Over 98 years the tobacco company produced a cumulative return of 265,000,000 percent! Based on this it would be easy to write about how lucrative it can be…
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