Communique from Trader W
This is the advanced trader psychology of managing our psychological capital as carefully, if not more carefully, that you manage your cash capital.
Advanced Trading Psychology Course
...because a few have asked where on the blog they can find info yet I would prefer to keep the blog as a discussion, here is the link to the info on the new self-driven study course. http://traderpsyches.com/selfdirected.php A more complete description and the download of an introduction is available…
Fraud & Fear: Weekend Papers report on Facts & Feelings
WSJ Weekend: "Fund Fraud Hits Big Names". New York Times Sunday Business: Schiller talks confidence and beliefs and Ben Stein talks fear. Madoff's investors "felt confident" in his long-time consistent returns. Yet every article indicates there were multiple red flags. No investment fees? Not even a 1% management fee when…
Financial Engineering Brought to You by Engineers
... most of which are human. I saw this in the NY Times... and here is says from the WSJ but in any event, the word is out. Math wizzes are human. The human brain does funny things with biases and predispositions that causes it to not see the data…
Shiller, Negative Affect & Psych Cap
Robert Shiller writes in the New York Times about the role of group-think during the upward phase of our blown-up housing bubble. He recounts the polite discounting of his warnings in Irrational Exuberance (see all of Shiller's books) and says "speculative bubbles are caused by contagious excitement." He segues to…
When Will It Stop? … (the advice that is)
The unexamined truism, old wives tale advice ... from a CNBC guest blog ...scroll down the the part where it says this -"2. These are trading markets where the ability to execute without emotion is the key to success." I realize that neuroeconomics is a new field and that the…