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times have changed in the past 5-7 years. I'll do a more updated post at some point about my experiences trading. -James

I can tell you from hard-earned experience every one of those 9 applies to traders.

Here's what's over: the American religion: - go to college and that increases chances of having a nice life - buy a home and be happy - have a corporate job and be safe and comfortable while you rise thru the ranks and retire with a nice pension All of that is over. But the...

I completely address that issue in the article on my blog. -James Altucher

The other day I was in a meeting. I had introduced a good quant fund to a billionaire family famous for funding startup hedge funds. I was the guy in the middle. The one thing both sides agreed on with all knowing smiles is "the game is rigged". Everyone knows it. Its just a matter each year...

Well, I promise I will never tell you what to do. But lets look at what has consistently made money over the past 20 years. Two approaches: A) Hold forever. Buffett, Gates, etc held their shares of their companies forever and made billions (I dont know any billionaire daytraders. Not...

The most ive ever traded with is 3 monitors. But its brutal on the eyes. Personally, think daytrading doesn't make sense unless you have a massive edge and massively good psychology and stamina.

Post I just did. The full post is at: http://jamesaltucher.com/2010/11/8-reasons-not-to-daytrade/ But here is the first part: 8 REASONS NOT TO DAYTRADE November 6th, 2010 | Author: James Altucher | Edit Everyone wants to be a daytrader. Let me tell you the best days. You get in at...

So, I'm not sure I understand - would you have recommended people short in March, 2003? Clearly that was one of the greatest opportunities in history to make money and the bull market that started then lasted for over 4.5 years.

First off, you are very selectively picking oiut my picks and then misinterpreting them. The short the banks was intended as a very very short-term trade. I was also recommending, for a long term trade, going long the preferreds of the banks, which went up over 100%. Also, during that same...

What about March, 2003. Dividend yields were less than 5% on the S&P.

I've been recommending Reliance Steel in both my writings and on CNBC. Check out the Barrons article this weekend on Reliance to see what metrics have been going up in a straight line for that company. RS is more of a general barometer on the health of the industry than X is. In terms of...

Sure, we're going to have pullbacks throughout. Just like in 2003. But the longer-term trend appears to be in place now both for the economy and the markets.

People say "the trend is your friend". But I can also have too many friends. there's too many lines on that graph. And if I want, I can make plenty of lines suggesting an uptrend. Its hard to read those things and derive any conclusions.

This chart from the Fed explains it all: http://research.stlouisfed.org/fred2/series/CBI The change in private inventories drove the severity of the so-called "Great Recession". Now the rebuilding of private inventories is going to drive the severity of growth that we are about to see.

A) historically, when rates are being raised from an initial point thats very low thats been highly correlated with the market. e.g. the 90s and 2003-2007. B) the Fed has never raised rates in a non-neutral employment environment. With 9.7% unemployment we are far from neutral. Doesn't mean...

Maybe you're right. But consumer spending has been ticking up.

The fed basically stopped buying mortgages a quarter go and yet yields are still at lows (even though the official buying just stopped there is no evidence they were doing significant buying the past 3 months). And actually, all the employment numbers are suggesting that inventory rebuild is...

I agree. But that will change, like it always does after a recession, as banks get comfortable with their capital base and with the economy.

Simple. Right now every company is realizing that their inventories were slashed to zero. So companies like CAT have even come out and said that even if sales stay flat OR GO DOWN, that they still have to buy non-stop steel to build enough product to meet demand. So who is selling them the...