Finding Your Style

I am aware that the downloadable data reports for Morningstar Sectors, Industry Groups, ETFs, and Indexes are not working, another casualty of this change over. I have emailed a programmer I’ve used in the past who has worked on these reports. Hopefully they will be fixed shortly.  If you’re in need I can share a Microsoft Excel Spreadsheet with all the data as if you had downloaded it. In fact I’ve been considering using Excel instead of the sortable reports. What say ye on that?

Yesterday I was forced to spend hours working on the links for this site. When I changed themes, without realizing it each used the databases differently, The old theme organized alphabetically, the new theme by page numbers.  It was rather excruciating if you know what I mean to do all the links. If you find any broken links please copy the url and send it to me so I can fix it! Thanks for your understanding and cooperation!

You now have a navigation on the right and bottom of the picture, a top menu. If no one has a problem I will eliminate the side navigation.

The following information and link comes from my friend Charles Kirk (The Kirk Report): Market Masters: How To Find A Trading Style That Suits Your Personality See link to full article at bottom of this page. I often elude to much of what this author says and is the primary reason I do not give advice.

Having interviewed many of the greatest ever traders over many years in his Market Wizard series, many of whom expressed the important role personality plays in trading, Jack Schwager dedicated an entire chapter to the subject in his latest offering ‘The Little Book Of Market Wizards’, and even went so far as to say “if you get nothing else out of reading this book than the one following principle, it will still have been a very worthwhile endeavor: Successful traders find a methodology that fits their personality.

“Traders must find a methodology that fits their own beliefs and talents. A sound methodology that is very successful for one trader can be a poor fit and a losing strategy for another trader. Colm O’Shea, one of the global macro managers I interviewed, lucidly expressed this concept in answer to the question of whether trading skill could be taught:

‘If I try to teach you what I do, you will fail because you are not me. If you hang around me, you will observe what I do, and you may pick up some good habits. But there are a lot of things you will want to do differently. A good friend of mine, who sat next to me for several years, is now managing lots of money at another hedge fund and doing very well. But he is not the same as me. What he learned was not to become me. He became something else. He became him.’”

Long time readers have heard me say for a long time when describing myself or things about myself that I do not expect anyone else to be me!

Not only can you not  be me but you cannot be: Charles Kirk, Paul Tudor Jones,  Ed Seykota,  Larry Williams, Larry Hite, or anyone else for that matter. You can do your best to learn what makes them tick, and to emulate them as much as possible but you must also be aware of any shortcoming differences.

Why not take the time this weekend and review the article below and discover yourself and your trading/investing style. Print it out and read it at the beach if you like  😎

Market Masters: How To Find A Trading Style That Suits Your Personality

 Talking Points and The psychology of your future self:

Is Your Portfolio a House of Cards? (Axel Merk)
What Happens When the Economy Baffles Economists? (Bloomberg View)
Damn These Unruly Markets (Sigmund Holmes)
Bond Yields Lowest Since Napoleon Are No Comfort to Europe Amid Deflation Fight (Bloomberg)
No, The Economy Wasn’t Built On Consumer Debt (STA)
How to Repair a Damaged Professional Relationship (HBR)
The World is Overbought (Bespole)
Lehman Lesson Lost as Bank Lobby Gains Clout, Swedish Leader Says (Bloomberg)
Wall Street once again tries to avoid free markets (MarketWatch)
One easy way to end gerrymandering: Stop letting politicians draw their own districts (WonkBlog)
There’s a Huge Difference Between an Opinion and a Position (All Star Charts)
Why Economists Can’t Always Trust Data (Fiscal Times)
Why Freakonomics Freaks Me Out (Bloomberg View)
Voters in One of America’s Most Expensive Cities Just Came up With Another Way to Block New Housing (WonkBlog)
Why Do People Persist in Believing Things That Just Aren’t True? (New Yorker)
You can’t stop billionaires from buying elections (WaPo)

The psychology of your future self 

Enjoy your weekend!