The chart below shows a series of predictions by experts on the future of the US 10-year T-Note. As you can see they missed by miles which should not be any surprise at all what is surprising is that anyone still listens to them. Source – WSJ
Now that May is in the rear vision mirror you will no doubt be bombarded by invocations to sell In May and go away. The rationale being that the markets best months are behind it and you are best off leaving and coming back in October. I have always found finances little myths quite quaint…
As you know I tend to collect junk mail that I am randomly sent – I am always interested in what people have to say about various bits and pieces. I am particularly interested in the material sent out by professional money managers. It must be difficult to justify taking money off people when you…
I used to think that those that ran hedge funds got rich because of their incredible returns. Then I heard about the 2 and 20 fee structure that most hedge funds charged. The typical hedge fund fee structure (historically) is 2% of assets under management and 20% of all positive returns. Therefore, if you gave…
Phillip Teo of TraderWave (our breakfast friend Singapore) talks to Ray Barros. I have always enjoyed listening to Ray. In the dim dark recesses of my mind I have a recollection of us sharing a stage decades and decades ago. He sees parts of the world a little differently to me but there is always…
On the weekend LB and I had the first meeting for this years Mentor Program and just before it was my turn to present I checked my laptop as I do to make certain everything was in order and it decided to show me nothing but a blank screen. Not a problem since I always…
LB and I are in the process of going through a series of trading plans and I found the chart below in one of the back and forth bits of communication we have been having with a mentoree. I have always been fascinated by growth curves of various sorts I suppose it comes from a…
Around about now Wall Street and others begin to trot out what their predictions for the coming year are. The latest round of such crystal ball gazing can be found here in an article by Bloomberg called Here’s (Almost) Everything Wall Street Expects in 2019 You can peruse this sort of nonsense at your leisure.However, before…
Recently on LinkedIn I saw a piece that was extolling virtues of profit taking, a strategy I am vehemently opposed to. The piece used words such as greedy to try and generate some form of emotional response in the reader – as if being greedy is a bad thing. In trading it is the only…
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