"My approach is to build to a larger size as the market is going my way..."
Read More »
Featured
Scaling In and Out
Has the US Dollar Long-Term Bottomed?
After shredding the weak sauce of Krugman-worshiping journos in a recent rant, it’s only fair to give some credit: Tom Stevenson of the UK Telegraph puts together a solid macro case for a bottoming US dollar. The piece, “After a decade of decline, it’s time for the dollar to have its day,” is worth...
Read More »
Homeostasis
"Homeostasis, remember, doesn’t distinguish between what you would call change for the better and change for the worse. It resists all change..."
Read More »
Mike vs Knish (Gearing Up for the Big Game)
Thoughts on weird macro... Mike vs Knish: Who to manage your money?... the problem with grinding... gearing up for the Bellagio "big game"... and more...
Read More »
Don’t Be a Hero
Not being a hero means less glory, but ultimately more profit, because if you wait for the optimal moment (which is almost never the initial turning point), you can more effectively scale up and put leverage to work in your favor...
Read More »
It Just Ain’t That Simple (Poker, Trading and Academic Folly)
In respect to highly competitive, skill-based human endeavors with zero sum or minus sum outcomes (like poker and trading), tentative hypotheses generated by non-practitioner research are generally worthless.
Read More »
Sparrowisms
A few dozen "Sparrowisms" are sprinkled throughout our collection of trading quotes. Here they are in one place...
Read More »
Never Forget What You Are
"Never forget what you are, for surely the world will not. Make it your strength..."
Read More »
Mashed Potatoes With Black Swan Gravy
Basically, if investors had any sense they would be purchasing black swan insurance by the metric ton right about now (instead of shunning it)...
Read More »
The Dabbler, the Obsessive, and the Hacker
"The categories are obviously not quite this neat. But the basic patterns tend to prevail, both reflecting and shaping your performance, your character, your destiny..."
Read More »
Sharks, Whales and Apex Predators
The dynamic between Great Whites and Orcas is analagous to the poker table (as the following tale attests)...
Read More »
The Space Between the Notes
French composer Claude Debussy once said, “Music is the space between the notes.” This is a very useful idea...
Read More »
From Cabo to the Wynn
The trader's life can seem ridiculously idyllic. But there is a real cost to all this -- the cost of self-discipline and self-directed focus...
Read More »
The Most Important Work We’ve Ever Done…
The most important work we've ever done...
Read More »
Featured Services
Recent Comments