Trading is a strange profession in that almost all of the traditions, habits and culture surrounding it are unique to the trader. You are free to make up your own beliefs and methods and unleash them upon the market. The end result of this is that most people go off half-cocked. You only have to…
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The other day I posted this equity curve that had appeared on social media. This curve is clearly fake because it resembles the climb profile of a QANTAS 737 leaving Melbourne on its way to Sydney – that and the fact that it claims a 97% win rate. Real equity curves display volatility as wins…
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You have to have some sympathy for those strategists working at asset managers and investment banks who spent the tail end of last year writing lengthy outlook pieces for 2020. Although the tomes produced always have an inbuilt redundancy; the onset and spread of coronavirus (COVID-19) has upended all forecasts in a particularly dramatic and…
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I noticed the following headline whilst having brekky at my local. You can read the original piece here in the Melbourne Age. Unfortunately, I would consider most of it wrong since the way you tell when markets have bottomed is to open a chart and look back six months and go….there’s the bottom. The only…
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One of the things that scream incompetent is the inability to distinguish between what is a relative figure and what is an absolute figure. You most often see this sort of idiocy in the reporting of the risks associated with various events such as diet or drug interventions. For example, consider this statement – eating…
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According to the popular press, Australians are racing out to buy hand sanitiser and face masks to protect them from the coming apocalypse. I do wish someone would tell them that neither will help. However, as someone who is fascinated by group behaviour hence my belief that Charles P Kindleberger’s Manias, Panics and Crashes is…
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Click here – Masters In Business
An aspiring entrepreneur could be forgiven for thinking that dropping out of college to start a company is the key to success. After all, it worked beautifully for Steve Jobs, Bill Gates and Mark Zuckerberg. These business moguls’ well-known stories give the impression that to become a triumph in business, all you need is a…
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