Category: Best Of

The following is an excerpt from Barton Bigg’s book, Hedgehogging, where he relates a conversation with “Tim”, a successful macro investor. Tim works out of a quiet, spacious office filled with antique furniture, exquisite oriental rugs, and porcelain in a leafy suburb of London with only a secretary. My guess is he runs more than…

The following is a fantastic speech from Bruce Kovner on Caxton Associates’ 20th anniversary. Kovner shares a plethora of trading wisdoms including the three most important contributors to his hedge fund’s success. You can read the original speech from 2003 here. ~~~~~~ To all my colleagues, to friends and associates who have worked and invested…

This is a killer talk I came across from Hedge Fund manager Mark Sellers, speaking to some Harvard MBA kids on what it takes to make it in markets. Regardless of whether you consider yourself a trader or investor, Mark’s “seven traits” apply.Enjoy… First of all, I want to thank Daniel Goldberg for asking me…

As traders, one of the most important traits we can adopt is humility. We have to embrace our fallibility. Markets are complex systems. We cannot know all the relevant variables and causal relationships. Therefore, when we make a market prediction or place a trade, we can’t truly know if the subsequent outcome occurred for the…

There is timing in the whole life of the warrior, in his thriving and declining, in his harmony and discord. Similarly, there is timing in the Way of the merchant, in the rise and fall of capital. All things entail rising and falling timing. You must be able to discern this. In strategy, there are…

Let’s break down Ray Dalio’s investment strategy and how he’s able to deploy a portfolio allocation that reduces a majority of his risk while keeping his returns high. Ray Dalio’s Asset Allocation Strategy Here’s an excerpt from Ray Dalio’s recent book Principles recounting his biggest aha!” moment in investing. This epiphany is what helped Dalio develop…

“I’m a Democrat… I’m a Trump Supporter… I’m a Value Investor… I’m a Capitalist… I’m a Neo-Keynesian… I’m an Atheist… I’m a Swiftie… I’m a… I’m a… I’m a…” Humans love labels. We don them proudly, wearing them like sports jerseys. We proclaim our chosen identity to anybody that’ll listen. We want everyone to know…

What’s obvious is obviously wrong… The present is already in the price… And it’s margins and capacity that matter… ~ Stanley Druckenmiller The following are some more words of wisdom from Druck pulled from an old Barron’s interview in 88’. There’s a few notes from me as well… Gauging the macro environment through three different…

I’m sure you’ve heard analysts, financial pundits, and other babbling heads yabber on and on about how these markets don’t reflect the “fundamentals”. They’ve ranted non-stop about how the fundamentals prove that a bear market is around the corner. They’ve raved about valuations being stretched and how stocks will collapse any day now… If you’ve…