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The new Market Wizards book is now available in all formats. I'm not saying it will change your life for the better, but it might! Pick up a copy:
George Coyle
4,694 posts
George Coyle
@gfc4
Co-author with Jack Schwager of the latest Market Wizards book. Order at link below.
Post about trading, markets, etc.
Joined June 2011
- "Every night at about 4:30PM I get 272 charts. They cover just about every group in the stock market, every commodity, every currency cross I'm interested in, every fixed income market around the world...daily, weekly, and monthly [charts]...When I make an investmentHow Stanley Druckenmiller (he managed over $12 billion in assets) looks at technical analysis:
00:00 - Quant trading lessons from the school of hard knocks, a thread: When I first started down the quant path, I had these visions of some massively elaborate and complex "supermodel" factoring everything under the sun. What I found over time is the opposite… 1/12
- Why would a dedicated quant firm (DE Shaw) decide to add a discretionary trading fund at the height of the AI boom when, in theory, quant should be in its heyday with the proliferation of data, quantum computing, AI, etc.? As I think about this, I remember that it is relatively
- The more I study great traders the more I become convinced that exiting losers very very quickly is the "secret" weapon.
- If the announcement of the forthcoming Market Wizards book has you excited to read about traders, take a look at my free Trader Principles book (foreword by Ed Seykota) which outlines the consistent principles of 100+ years of the greatest traders in their own words. Or read my
- A recent personal trading experience with a lesson for anyone interested. My discretionary trading hasn't been so hot this month. I've mostly waited for my setups and taken positions when they came but, for whatever reason (it wasn't a lack of paying attention to the calendar),
- "When I was 47, I was having a difficult year for a variety of reasons and Warren [Buffett] sat me down and said look, when I was 47 I thought my life was over. Susie had left me, and I had already accomplished everything I thought was worthwhile as an investor. Berkshire, as far
- Condensed writing: Consistencies of 100+ years of great traders: traderprinciples.com Seykota methods: seykota.com/tt/Aggregation… Druckenmiller methods: triinv.com/druck Soros methods: triinv.com/soros Decoding RenTec: twoquants.com/decoding-rente…
- Replying to @gfc4simplicity lives behind the methods of most successful quants, not complexity. Systems might look complex as a bunch of simple parts can create a complex looking machine in aggregate, but, well, I found very few successful practitioners advocating for complexity. 2/12
- Everyone I know or know of who got wealthy via markets experienced some harrowing drawdowns along the way. I don't think it is possible to make big money in markets without big volatility in your equity curve.
- Replying to @gfc4Fourth, markets will teach you the difference between sample and population (statistics concepts) faster than any classroom ever will. Finally, quant has its benefits but remember everything is discretionary in the end and math won't enable you to escape emotions. 11/12
- Table shows annual returns for Soros (GS) and Druckenmiller (SD) from 1969 to 2000. Data comes from a graph in the back of More Money Than God by @scmallaby (great book). The graph didn't have actual numbers so I eyeballed these, but they should be close.
