A Complaint from the Peanut Gallery

My reader [sic] complains that the OldProf is not offering any easy answers.  He is too pedantic.  The ideas are too complicated.  Even if I point out errors that represent market inefficiency, there is no easy way to profit. Well — First off, I am writing down my observations about the market because there is […]

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Altucher versus the Rest

James Altucher’s book, Trade Like a Hedge Fund, was recognized by Barron’s a couple of years ago as the best investment book.  There are many strong features of this work.  I like it and enjoyed reading it.  I will look at some of the specific strategies later and offer some comments.  In the (unlikely) event […]

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Investing is not Gambling

Since there is a long-term positive expectancy in equity investments, buying stocks is not a gamble in the normal sense — a lottery ticket, a trip to the track, or a basketball pool.  Why do so many investment authors use gambling terminology and analysis? There are two very good reasons. Gambling activities often permit an […]

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