The reason that I’m writing you here – and not, say, working at a bank anymore – is pretty straightforward. It’s a Rolex watch. HoliHo / Pixabay I worked in finance for about 20 years. I started, fresh out of graduate school, on the bustling trading floor of a Wall Street investment...
“There are old traders, and bold traders, but there are very few old bold traders.” This means that younger investors are a) prone to boldness and b) these same aggressive traders have short careers. In trading jargon, young bold traders (who, as I’ll get to in a moment, are almost...
At some point in every cop drama movie you’ve ever seen, there’s the inevitable scene where competing law enforcement agencies clash over “jurisdiction”… especially when it’s a particularly juicy crime. 2017/18 hedge fund coverage I’m talking about that scene when the Feds muscle in, pushing out the local police… and it...
A butterfly flaps its wings in Patagonia… and there’s a cyclone in (say) Pattaya. It’s the same thing with money – and Anbang, as I’ll get to in a second. The contagion effects of the 2008-2009 global economic crisis spread around the world. And so did the medicine that was...
Markets – whether they’re for stocks, cryptos (especially), Picassos, Beanie babies, or pre-war chewing gum wrappers – have a lot in common with gambling… especially for people who don’t know what they’re doing. Losing is a lot easier than winning. But even people who know at least something about investing may...
The portfolio held 70 stock positions… and I had no clue about most of them. I had inherited US$125 million in dozens of shares from a previous portfolio manager, and I hadn’t yet gotten up to speed on them I knew that I wasn’t “holding” these positions. Being handed over...
When you have a job and are earning some income, typically you look to save. In other words, spend less than you earn, and tuck away or invest the difference. If you lose your job, you lose your pay cheque. Being unemployed means drawing down on those savings. You run...
Investing can be scary… especially when markets take a dive like they did earlier this month. That’s why a lot of people turn to “experts” to help them invest their money. The financial-industrial complex is what I call the vast web of interests eager to get their hands on your cash...
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