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Sam had no talent for coding—the two closest friends he’d made at MIT were both coders, but he still couldn’t tell a good coder from a bad coder. About trading all he knew was that he was not obviously unqualified to do it. He dropped his résumé with the firms looking for traders. It still felt like a lark. “Someone told me that a lot of physics ma
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
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Dan Markey, my mentor, had an interesting philosophy about fundamentals. He thought most fundamental news was nonsense. Dan had what he called the dominant fundamental factor theory, which postulated that, over an extended period, one to five years, there was one underlying fundamental factor that was the driver of the market. All the other news me
... See moreJack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
More than 2,000 books are dedicated to how Warren Buffett built his fortune. Many of them are wonderful. But few pay enough attention to the simplest fact: Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child.
As I write this Warren Buffett’s net worth is $84.5 billion. Of that, $84.2 bi
... See moreMorgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
What are the elements of good trading? The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.
Jack D. Schwager • Market Wizards: Interviews with Top Traders
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
And the losers? They risk way too much. They don’t have a methodology. They chase markets. They have a fear of missing out. They can’t keep their emotions in check; they have wild swings between excitement and depression.
Jack D. Schwager • Unknown Market Wizards: The best traders you've never heard of
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