Justice "Jack" Litle

Web Site: http://mercenarytrader.com


Stuff Warren Buffett Said That Surprisingly Applies to Trading

August 25, 2015

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Why Don’t Sell is Bad Advice — And Nobody Should Be in Markets Without a Plan

August 24, 2015

Warning, rant ahead… picks up steam toward the end… With markets flailing the bad advice is really flooding out. The most common piece of bad advice: “Don’t sell.” As in, do not sell your stocks, ever! Don’t even think about it! Here are a couple examples of this: Advice After Stock Market Drop: Take Some...
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The Trader’s Prime Directive: Survive and Advance

August 24, 2015

In the Star Trek television show series, the “Prime Directive” was a guiding principle for the United Federation of Planets. It was a kind of core focus, an idea that resided at the heart of everything. The need to follow the Prime Directive — and not interfere with the development of less advanced civilizations...
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Global Systematic Discretionary Hybrid

August 21, 2015

We continue to develop the macro links. It will be excellent getting these up in the forum (among other things): Mercenary Macro Links August 19th 2015 Mercenary Macro Links August 20th 2015 But now I want to tell you more about the Mercenary vision, and how it relates to routines, deliberate practice, and other...
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21st Century Routines of the Master Trader, Part Two: Leveraging the Mercenary Mind

August 18, 2015

To begin: If you want to better understand the routines of legendary hedge fund managers, check out “More Money Than God” by Sebastian Mallaby. The book is excellently written, and takes a very unique approach. Mallaby investigates the routines and habits of many different hedge fund managers — Paul Tudor Jones, Julian Robertson, Renaissance...
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Mercenary Daily: 21st Century Routines for the Master Trader

August 18, 2015

Amazon.com is the most fascinating company in the world right now. It is simultaneously a profitless twenty-year-old startup… a hugely profitable cloud services provider… a 21st century sweatshop (from the warehouse angle)… the world’s most technologically advanced logistics company… and on the white collar side, a lightning rod of criticism for its combination of...
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21st Century Routines for the Master Trader (Part One)

August 17, 2015

In response to Deliberate Practice in Action, we were asked what the routines of a Master Trader might look like… Per the usual, we will try to answer this in a roundabout way at first, covering multiple angles, and then get more specific as we go. First let us consider there are routines, and...
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Why Amazon is the Most Interesting Company in the World Right Now

August 17, 2015
Why Amazon is the Most Interesting Company in the World Right Now

So I was going to do an extended riff on all the facets of Amazon’s current positioning — the multiple ways it encapsulates the techno-cultural zeitgeist — but in the process of writing the piece, wound up just going with this instead. Click for full size:    
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Deliberate Practice in Action — Specific Areas of Trading Focus

August 17, 2015

Typo disclaimer! Writing quickly again here… Okay, let’s talk some more about Deliberate Practice and specific areas of trading focus. We will start by laying out four different areas of development for Deliberate Practice, with examples of each and relation to trading. Then we will look at the three components of deliberate practice. Then...
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Thoughts On What Deliberate Practice Looks Like in Trading (Part One)

August 13, 2015

What does Deliberate Practice look like in trading? It’s a great question. The answer in this post will be short, but we’ll elaborate on it more in future episodes. The first thing I am reminded of is the old joke about commitment levels, as illustrated by an eggs and bacon breakfast. In serving up eggs...
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The Essential Mercenary Qualities: Gameness, Capacity For Deliberate Practice, Love of Markets

August 12, 2015
The Essential Mercenary Qualities: Gameness, Capacity For Deliberate Practice, Love of Markets

So here is an out of the blue question… Would you like a shot at joining the Mercenary team? We are looking for new generation Mercenaries — community members we can shape into superstar analysts and traders, and possibly future hedge fund managers. Think of it like joining a merchant trading fleet. You start...
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Organization of Thematic Research and Tracking of Trading Ideas, Part Two — The Evolutionary Forum Concept

August 11, 2015

Continuing what we started in this post… Let’s say you are Jack, and you’ve got this problem to solve. The problem is: How to become one of the greatest global macro traders of your generation. Let’s say one of your key “mentors from afar” is George Soros, a guy who originally wanted to make...
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Organization of Thematic Research and Intelligent Tracking of Trading Ideas — Early Notes and Thoughts

August 10, 2015

Here is some stream-of-consciousness comin’ at ya (consider this the author absolving himself of responsibility for typos). Every so often we get asked the question, “Why do you pay attention to fundamentals and not just use charts.” It is usually a question posed by someone who doesn’t understand the Mercenary philosophy, which revolves around...
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The Eight Checklist Factors For a Strong Trade

August 9, 2015

There are eight checklist factors we look for in a strong trade. This is a very basic-level treatment, and there is much more depth to each of these areas (which we will explore in due time, and certainly via the Driver’s Manual). But without further ado, the factors are: 1) Trend Compliance. Is the vehicle...
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Mercenary Musings: No Longer Confined to Energy and Commodities, the Carnage is Becoming Widespread

August 7, 2015
Mercenary Musings: No Longer Confined to Energy and Commodities, the Carnage is Becoming Widespread

For a while there was a bit of a CPI thing going on — trying to justify stock market performance “ex-energy” and “ex-commodities.” By that we mean, the Consumer Price Index (CPI) has long been criticized by some as a distorted measure of inflation due to stripping out the “volatile” items like food and...
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