Investment management is not about gambling but about quality of life! For someone who's spent the past 26 years as a market analyst, researcher, trader and hedge fund manager, it might come as a surprise that I actually mean it when I say that I hate trading. I explained why I fell out of love … Continue reading I hate trading!
The miracle of trend following
With all that’s going on in the world, worrying about your investment portfolio may seem like a distraction. Over the last few years the issues of politics, public health and war took the spotlight. Still however, managing our savings and safeguarding their purchasing power must remain a central concern; as Doug Casey put it in … Continue reading The miracle of trend following
Japan: the harbinger of bad things to come…
The accelerating collapse of Japanese economy will foreshadow the unravelling of the European, British and ultimately even American crises. It is time to pay attention as the crisis presents major risks – but also opportunities. Things were discernible long ago… Way back in March of 2010 I published an article titled, “Japan: the Harbinger of … Continue reading Japan: the harbinger of bad things to come…
As markets crash, trend followers excel again
Trend following is to investing as Arabic numerals are to mathematics. The S&P 500 is now nearly 22% below peak. Treasury bonds of most western governments have begun to give way at an accelerating rate and all this is taking place against the backdrop rising inflation, supply chain disruptions and poor overall economic performance. At … Continue reading As markets crash, trend followers excel again
Investing is about STRATEGY, not about stock picks
Stock investors tend to obsess about stock picks, with desire to discover the new Apple, Google, Tesla or some such stock that could make all the difference. But even when they discover them, most investors never take full advantage of these discoveries. The reason is rooted in human psychology. It's what psychologists Daniel Kahneman and Amos Tversky called "failure … Continue reading Investing is about STRATEGY, not about stock picks
Inflation and the coming commodity super-cycle
In December 2020 I published the article, "The Coming Inflation Tsunami and How to Protect Your Portfolio," warning that inflation could burst forth suddenly and with force, that it would have devastating effects on investor wealth and that exposure to commodity futures represents the best possible hedge against inflation. At the time, the feedback from … Continue reading Inflation and the coming commodity super-cycle
Everything bubble’s end game
The S&P 500 closed 2021 at a new all-time high, indicating that the ongoing central bank monetary experiment is nowhere near winding down: For years now, we’ve seen many compelling analyses, usually based on valuation issues or macroeconomic risks, predicting an imminent crash and explain why the bull market just could not continue for long. … Continue reading Everything bubble’s end game
Do not bet against the bubble – not yet…
Last week Bank of America published another market report, helpfully summarized by ZeroHedge. BoA's chief market strategist Michael Hartnett has been turning increasingly bearish and expects that a coming [interest] "rates shock" will burst the asset bubble. This is in fact very much possible and there’s a 50% chance that Hartnett is right (heads, he’s … Continue reading Do not bet against the bubble – not yet…
My University of Texas guest lecture on trend following
Markets move in trends. This is a glaringly obvious fact for anyone with eyes to see. In fact, already 2000 years ago in his timeless classic, "The Art of War," Sun Tzu identified trends as one of the three great avenues of opportunity. In spite of that, the idea that markets move in trends is … Continue reading My University of Texas guest lecture on trend following
Warren Buffett and Ben Graham: momentum players, NOT value investors!
Tens of millions of individual investors worldwide took the step of setting up their own brokerage accounts to actively manage their portfolios. Unfortunately, most of them lose money: an 11-year study published by the UK regulator FCA found that 82% of them lose money. The data published by many of the retail brokers corroborate this. … Continue reading Warren Buffett and Ben Graham: momentum players, NOT value investors!
I-System Trend Following 