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A professional poker player would fold a hand only when the odds are not in his favor, not because he enjoys folding. The point Lederer makes is that a pro player has no problems (psychologically) folding dozens of times in a row, even if that means taking small losses and patiently waiting for...

There is absolutely no telling when the blow off top will come (or even if it ever comes). We could be right in the middle of it, or it could happen in a couple of years from now. I don't believe in any of those tell-tale signs like shoeshine boys giving advice or bus drivers mortgaging their...

Long JGB :cool:

Sounds correct. These numbers are still very good IMO. He made around 12% gross annualized before fees on a multi-billion account when we had 1997 (Asian crisis), 1998 (LTCM), 1999 (tech bubble), 2000-2002 (tech bubble pops, 9/11, Argentina blowup, Enron/Worldcom), 2007-2009 (commodity bubble...

Ambrose Evans-Pritchard China has now become the biggest risk to the world economy http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6575883/China-has-now-become-the-biggest-risk-to-the-world-economy.html

Right? While they're distorting the global currency supply/demand with their ridiculous peg and are likely blowing a lending and bad credit bubble of epic proportions in their own backyard. The Chinese ought to do some housecleaning in their own attic before they start giving advice to the...

"Not so wow" only to a complete fool.

How much money did all that screaming make you?

Those who sit in the glasshouse shouldn't throw with stones. The Chinese seriously need to shut up yapping about distorting markets and fueling bubbles.

I think the point is that small losses and big wins is counter-intuitive to the human brain. Our brain is wired to reward small wins rather than series of small losses. That's how people fell in love with Madoff. They couldn't resist that straight up 1% a month equity curve which appealed to...

One doesn't exclude the other. Analyzing differences between Paulson's style and a mechanical trader leads nowhere IMO.

I have absolutely no clue.

Citigroup http://www.bloomberg.com/apps/news?pid=20601087&sid=aiZE.BBJzcWA&pos=7

Plus that is (probably) net of fees. So that's closer to 55-60% annualized in gross terms, before fees.

You got me, tough to beat that one :cool:

Harry Dent: "Dow 40,000, Nasdaq 20,000 by 2009" http://www.freerepublic.com/focus/f-news/1269555/posts :cool:

Michael S. Rozeff: Gold going to $10,000 http://www.lewrockwell.com/rozeff/rozeff16.html :cool:

Jim Cramer "You Have to Buy Gold" http://www.thestreet.com/story/10625313/1/cramers-mad-money-recap-why-the-gold-rally-is-good-final.html?cm_ven=GOOGLEN Prechter throws in the towel on his gold top calls...

This is one of the best trading related videos I have seen in a long time.