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Efficient Market Bullshit
I love it when people tell me the trend following ‘winners’ are the lucky survivors. In my humble opinion people who think like that are either ignorant in the short-term willing to learn/be corrected or, and I say this bluntly, losers in life unable to accept reality. If trend following winners are the lucky monkeys hitting the keyboards, than the king of the monkeys must be Warren Buffett. Buffett himself makes the case for why this is bullshit (there is no other word) in an excerpt from Snowball:
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Book excerpt idea courtesy of BreakoutStocks.
Kevin Bruce: Silent Trend Following Pioneer
Kevin Bruce is a silent (and very successful) trend following pioneer. Who is he? For those trend following data freaks out there, check this out (PDF). The highlighted sections are Bruce. You ask who is “Signet”? Signet Bank was where Bruce worked. In one of those odd stories Bruce had convinced, due to his performance and his fortuitous timing, to let a regional bank back in the day let him trade a trend following portfolio ‘in house’. To hear him talk about how he managed this relationship is nothing short of amazing. Bruce also appears in my film Broke.
Note: I will be soon putting out the long form interviews of many of the traders in my film. Bruce is coming, but first I will release David Harding (76 minutes) and Salem Abraham (89 minutes). Both are timeless interviews.
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
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Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
Tim Paradis AP Business Writer Has Less Than No Clue
Tim Paradis, apparently an AP business writer, penned this ditty this morning:
Investors’ rising fears about consumer spending are turning stocks into a risky investment again. Stocks plunged and Treasury prices soared Monday as investors around the world feared that consumers are too anxious to lift the economy into recovery.
More from Paradis:
The mixed economic readings of the past several months aren’t surprising. A turnaround produces mixed messages because not all parts of the economy recover at the same speed and some indicators start to show life before others. Analysts say investors who had expected the economy would rocket higher got ahead of themselves by sending stocks up so quickly. Many economists have predicted a gradual recovery in the economy, in part because unemployment rates could remain high.
How does Paradis draw all of these so nicely wrapped up conclusions? His background gives tremendous insight into his keen economic and trading insight. Rhetorically, I ask Paradis:
1. Who are these investors? Long only Dow investors?
2. Is 1.73% down (drop at time of me reading his article) a “plunge”? And for those who are short isn’t that a good thing?
I could go on. Perhaps others have observations about Paradis’s observations?
Paul Tudor Jones Commencement: You Will Fail
Nice read (PDF):
FAILURE. Failure that is so mortifying and so devastating that it makes you try to become invisible. It makes you want to hide your face, your soul, your being from everyone else because of the shame. Trust me, boys—if you haven’t already tasted that, you will. I am sure most of you here already have. AND IT IS HARD. I know this firsthand, but I also know that failure was a key element to my life’s journey.
More.
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
Michael Covel Receives Maria Bartiromo Feedback
My video about Maria Bartiromo brought out some pleasant feedback:
You make accusations without any proof or examples. You are media and just as guilty as those you accuse. This is a hatchet piece without merit. You apparently have an audience that hates American, CNBC, and Maria. Glad I don’t have to live in your dung hole.
How can you move forward immediately to Trend Following profits? My books and my Flagship Course and Systems are trusted options by clients in 70+ countries.
Also jump in:
• Trend Following Podcast Guests
• Frequently Asked Questions
• Performance
• Research
• Markets to Trade
• Crisis Times
• Trading Technology
• About Us
Trend Following is for beginners, students and pros in all countries. This is not day trading 5-minute bars, prediction or analyzing fundamentals–it’s Trend Following.
Turtle Jerry Parker on Systematic Trading
Turtle Jerry Parker noted the other day in Chicago that his trading is 100% systematic. Not news to me or the many others familiar with trend trading, but I suspect for people not familiar with trend following that fact takes time to digest. Parker also noted how bad of a thing it was for the Turtles to make money the wrong way. He said that if they made money the wrong way they were in trouble with Richard Dennis.