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.
Temporarily despairing could be the clue for the Brown to prevail in Pittsburgh
ReThink is so pleased to announce our work with Andy Papa and the Pit Crews of Hendrick MotorSports. We are working with each cup team - Cars 9, 24, 48 and 88 and the various levels of development teams, two of which support cars 37 and 47. We began with…
Trading is hard. This far-flung, never-ending electronic poker game serves up a mental challenge unlike any other. Anything can happen at any time. It looks like a numbers game but it's really a people game. The data are numbers but the information is in the relationships between, and the implications…
“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:…
A few weeks ago, I attended the annual meeting of The Social and Affective Neuroscience Society (SANS) - a seemingly unlikely place to figure out how to resolve a trading mistake! Those who follow me know I am not only a closet academic but that many of the advanced trading psychology…
Trading psychology advice permeates the world of traders. Yet, the majority of traders still experience a challenge that goes like this: "Why did I do that?" They have a plan, they swear they will not make that mistake again and BAM! they do precisely the thing they did not want…
Do you realize that almost no matter where you exit a trade, you are going to feel bad? If the trade is a winner, you wonder if you could have gotten more out of it or why you gave back part of what you had. It's like a winner is…
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…