A Century of Evidence on Trend-Following Investing
As an investment style, trend following has existed for a very long time. Some 200 years ago, the classical economist David Ricardo’s imperative to “cut short your losses” and “let your profits run on” suggests an attention to trends. Early in the last century, the legendary trader Jesse Livermore stated explicitly that the “big money…
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As Obvious As The Nose On Your Face
Following on from the previous post on the gain you will need to recover from the current fall out I thought I would rattle off charts of the worst performers and ask a simple question for those who are still holding these issues. My view is the market never lies to you it is totally…
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But The Market Always Goes Up
Along with the bleating of the crypto crowd that the current collapse is all a conspiracy – which tells you a lot about the psychology of people who take crypto seriously is the whinging of fundamental advisor types who are apparently telling their clients don’t worry the market always goes up. Apparently, they cannot differentiate…
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How To Spot Luck
As everyone should know I am a great believer in luck playing an invisible hand in the success that many people enjoy. And there does come a time when you can spot luck deserting someone as the need for skill becomes apparent. The hedge fund Tiger Global has lost 66% of all investor gains accumulated…
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Armchair Commentary
Commentary on matters financial has always fascinated me because it reveals a great deal about those offering it. During the pandemic, we had people who at one stage were complaining that their 10 years old science homework was too hard also giving commentary on matters ranging from the intricacies of immunology to public health. Currently,…
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