Loading ...Jack Schwager interview
You might skim the interview with Jack Schwager at
www.zerohedge.com/news/2017-02-04/market-wizards-wizard-interview-jack-schwager
Focus points for skimming: comments on retail traders in the era of big and fast computers and institutional dominance; comments on XME, tail risk in 2008; comments on pattern recognition + intuition.
I’m not sure that people recognized him when I referred to him on the Spock metals matrix and perhaps here. I studied a few of his books in the 1990s. I see that I have in my tiny-league way evolved into notions similar to his as years elapsed. For example, he writes that little traders and investors who can pick and choose when and where to go and are small enough not move markets can have advantage over institutions; that intuition can help over and above formal TA rules alone; that the little people by taking long term high risk positions w/o stops can have successes impossible for many institutions; and of course that it can be much harder these days however for many small traders now than decades, traders using this or that set (perhaps off the shelf) formula.
I recommend light skimming, not reading, unless you have time to spare.
Also interesting are his points touching on strategies that stop working (and become counterproductive) and those that don’t–
and on how the relatively small number of successful different (retail) traders will necessarily employ different strategies.
(The latter concept is an old one of his. In the past when interviewing some of the most successful traders he found that they often employed different, even opposing methodologies–but successfully.)
Again, not nail-biting enthralling–just for a light skim.
it is worth watching and waiting for the secular change in the bond market.
what will cause a change of trend,(yields/interest rates up-bond prices down)
i do not know.but it will be a big event.the good scenario is the fed raising rates
because of a stronger economy,rising wages,pick up in inflation bla bla bla…
the bad scenario and the one gold bugs have been waiting for and did not get
is bond market crisis -the big debt,loss of confidence in the dollar bla bla bla…
richard russell used to say that gold will be the last man standing.we will wait and see
In contemplating a massive collapse in the bond market. I am reminded of this Quatrain by Nostradamus
The copies of gold and silver inflated
which after the theft were thrown into the lake,
at the discovery that all is exhausted and dissipated
All scrips and bonds will be wiped out.
I have no doubt this will happen but I don’t know when.
could be after French, german elections and they vote trump similar over there, cash go running out of banks perhaps and the liquidity crisis starts. Who knows,? Maybe the new leaders create bigger currency wars. Good time to start a war also when new leaders in so lotsa stuff on golds’ side. 🙂
posted the previous comment in the wrong place
Have read and enjoyed many of his books.