10 Lessons I Learned from Steven Cohen’s SALT Conference Interview
I recently had the pleasure of attending the third annual SALT Conference in Las Vegas. One of the highlights of the event was a rare interview with SAC Capital founder and hedge fund legend Steven Cohen, who spoke in front of a packed room of 1,800 people. Just to give a quick introduction, Mr. Cohen manages over $15 billion in assets and has achieved a +30% average annual return for 18 years. The interview was conducted by Anthony Scaramucci, [...]
Why I Hate the Jobs Report
I posted this back in March. After listening to all the stupid TV hype about this Friday's Jobs Report, I felt the need to repost this: Of all the economic reports, the monthly Jobs Report seems to get the most attention. This report comes out at 8:30AM EST on the first Friday of each month. Here are the main reasons why I ignore this report: 1) CNBC calls this report the "Grand Daddy of them [...]
The American Dream
"In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edgewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success. Who were they? Charles M. Schwab, president of the world's largest steel company (Bethlehem Steel); Arthur Cutten, the greatest wheat speculator of his day; Richard Whitney, president [...]
Recommended Reading List
I posted this list back in October. I am re-posting it now because I constantly get asked questions about trading, the stock market, chart reading, etc. As Jesse Livermore said: "Trading is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or for the get-rich-quick adventurer." In other words, to excel in the stock market, you have to work hard, have emotional control, and develop confidence in your strategy. My [...]
The American Dream
"In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edgewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success. Who were they? Charles M. Schwab, president of the world's largest steel company (Bethlehem Steel); Arthur Cutten, the greatest wheat speculator of his day; Richard Whitney, president [...]
Introduction
In early 2006, I created “Market Notes” to update fellow traders on my views of the US stock market. I found it very helpful because it gave me the opportunity to organize my thoughts and prepare myself for trading. Thanks to Philip Pearlman (twitter: @ppearlman) and Howard Lindzon (twitter: @howardlindzon), they convinced me to turn my Notes into this investment blog. My intention is to provide keen market insight, strong stock ideas, and to hopefully pass on [...]