Whenever I attend investment conferences or speak to a group of traders, there are always a few people looking for the "Holy Grail." In other words, they are searching for some magical formula or a crystal ball to tell them when to get in and out of the market. I have news for you: IT DOESN'T EXIST! [...]
A friend emailed me this story recently. I would happily give credit to the source, but I have no idea where it came from. I hope you find some meaning in it as I did when I read it... When I got home that night as my wife served dinner, I held her hand and [...]
I am a huge fan of Oprah Winfrey and Tony Robbins. So, when the two of them decided to combine forces for a 2-hour Lifeclass special last week, it was a no-brainer to watch and absorb their wisdom. There are hundreds of lessons they have taught me over the years, but here are a few that [...]
"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 [...]
It's really easy, right? Open an online brokerage account, send some money, and fire away. You can start your application now and be on margin within the hour. Sounds like a party, huh? Here are some things to consider: 1) 95% of individual traders lose money over ANY 10-year period. Why? Mainly because most investors [...]
During the 2008 financial crisis, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson approached President George W. Bush and said: If we don't do something, this country will experience an economic downturn worse than the Great Depression of the 1930s. President Bush explained that part of his job was to surround himself with [...]
The following is an article from ESPN the Magazine written by Michael Jordan back in May 2001. He talks about Tiger Woods, the killer instinct, and performing in the clutch. When I read this, I find so many similarities to stock trading. I hope that you also see the correlations, as we all strive to [...]
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. I constantly get asked to recommend [...]
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 [...]
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. [...]