Saturday night, a horse and a jockey with 80-1 odds stunned the horse racing world by coming from behind to win the prestigious Kentucky Derby. The only other horse to win with longer odds was Donerail in 1913, at 91-1-- more than a century earlier. If this isn't an object lesson in how we never know when our chance will strike, then nothing is.
The ReThink Group is proud to announce that our CEO Denise Shull, the inspiration behind the #WendyRhoades character on Showtime’s #BILLIONS, is featured in Mediaplanet’s latest campaign launching today, November 14, 2018 in USA Today. ‘Employee Engagement’ creates a 360 guide for the entire engagement journey from recruitment to recognition…
Here’s an example of how leaning into all of your feelings - even the so-called "negative feelings" - works. This morning I went to my usual, fairly challenging, workout class at Equinox. Between my own suspected concussion (surf board to head) + my dog’s trip to the emergency room, I’d…
“I got them all wrong” exclaimed one private equity portfolio manager. “Ha! Right!” said another Chief Investment Officer when I suggested that the pattern recognition skills embedded in succeeding with the Bloomberg Tradebook Trader Brain Exercise (TBX > GO) resembled private equity decisions. With almost ten thousand players, this exercise/game illustrates an underlying…
UPDATE June 20, 2016: I am SO glad the Cavs won! Thrilled. Elated. Vindicated. Ecstatic. Relieved. Joyous. Shocked... not necessarily in that order. Maybe someday I will get to interview LeBron about the cycle of emotions he experienced and used to create this incredible historic victory! UPDATE June 17, 2016:…
We've all asked this question. Should I stay at the party a bit longer? Should I wait and see if the Cleveland Browns might possibly (by some miracle) pull this game out? (NO!) But I bet it never occurred to you that this is really the central question of trading.…
Back in the ‘90s in Chicago when I just beginning to trade my mentor would say: “I’ve seen this movie before.” Mistaking the market for a math problem, I really didn’t get what he meant – until indeed I too felt a click of recognition as I watched price action…
It unfortunately remains the predominant and conventional wisdom that the best trading occurs from so-called purely rational (read: statistical) and non-emotional analysis. Alas, it's just not true. In fact, it isn't even possible for a human being to make a risk-decision devoid of feelings and the most-forward thinking research says…
Two separate studies interviewing close to 200 successful portfolio managers and traders confirm what Jason Voss and Ravhee Mehta have reported in their books The Intuitive Investor and The Emotionally Intelligent Investor. Being able to read the feelings of other market participants, a form of empathy, and being able to…
In technical terms, the researchers call this projected emotion, "anticipatory affect". In simple terms, the results of this meta-analysis of the brain's reaction to probabilities in risk goes like this: 1. A trader or PM takes in information about the expected mean, variance or skewness of a trade. 2. The…