Search, Listen and Read
I got to swap podcasts with a not-so-old, old friend recently. The exchange gave this post a needed nudge.
The idea is simple: a recurring Medium-style post that highlights where I'm finding value in books, podcasts and on the web.
About: Lifestyle & Passion
Info: Jim Cramer's "Confessions of a Street Addict"
This is a clear and compelling read for those interested in classic Wall Street stories from exceptional performers. Cramer's early timeline is motivating yet envious as luck and timing (coupled with amazing talent, intellect and energy) put is career on an incredible trajectory.
I'm just a few chapters in, but the last section I read was eye-opening -- about how Street "insiders" and traders, through high-volume trading (i.e. commission generation), create business relationships with influential analysts and bankers to gain insight into future market drivers...
About: Entrepreneurship & Investing
Info: Marketwatch article, "Ashton Kutcher's best investments" (http://www.marketwatch.com/story/ashton-kutchers-best-investments-2017-05-08)
About: Trading, Awareness & Discipline
Info: Chat with Traders podcast, Episode 121 "Tactics for better decision making, and skill versus luck w/ Michael Mauboussin" (https://chatwithtraders.com/ep-121-michael-mauboussin/)
"Michael is widely-recognized as a thought leader on the subject of decision making, as well as thinking about things in the way of process over outcome, and skill vs luck." His discussion of journaling reinforced what I have experienced writing this blog and my trades.
About: Trading Best Practices
Info: Blog by Brett Steenbarger, "Three Best Practices of Currently Successful Traders" (http://traderfeed.blogspot.com/2017/04/three-best-practices-of-currently.html)
About: Volatility & Science
Info: Real Vision's Adventures in Finance podcast, Episode 13 "What Lies Beneath: Volatility in a Peaceful World" (http://adventuresinfinance.realvision.libsynpro.com/website/what-lies-beneath-volatility-in-a-peaceful-world)
A timely topic for anyone participating meaningfully in the financial markets.
The guest also discusses an interesting product that might change your perception of time -- Tikker Watch.
About: Trading & Outperformance
Info: Valuewalk article, "Lessons from a Trading Great: Stanley Druckenmiller" (http://www.valuewalk.com/2016/12/lessons-from-a-trading-great-stanley-druckenmiller/)
Maybe he’s a freak of nature or perhaps a secret Jesse Livermore / George Soros lovechild… or maybe he’s just a relentlessly determined trader who’s been on a lifelong path of mastery.
Stanley Druckenmiller throws conventional wisdom out the window. Instead of placing a lot of small diversified bets, he practices what we call the “Big Bet” philosophy, which consists of deploying a few large concentrated bets."
About: Trading Tips & Lessons
Info: The Trade Risk blog, "Trading Tips, Tricks, and Painfully Learned Lessons" (http://www.thetraderisk.com/trading-tips-tricks-and-painfully-learned-lessons/)
"Research, trade, adjust, document, rinse and repeat.
Master a setup and then expand.
Trade the market you have, not the one you want.
Some setups and strategies just don’t work well under certain market conditions. Want to trade momentum breakouts on the last week of the year with light volumes and no ranges? Good luck.
Get comfortable with the probabilities and variance of your trading strategy and create a review process to stop and reflect when times get challenging.
Remember, when you’re thinking about returns, you always need to factor in the relative risk required to achieve those results.
What can you automate to make your trading life easier?"
Let me know what you're searching for, listening to and reading about -- click "Leave a comment" below...