Trader’s Narrative

As you’ve probably noticed, things have been rather quiet in this neck of the woods. For the past few days I was enjoying the sun and surf at Kaua’i. I’m slowly settling back into my routine and hope to resume our regularly scheduled programming by next week.
While I tried valiantly to appear like I […]

Right now, the bulls are running in Pamplona. The whole town is one giant party with nights and days melding into each other. The locals have long packed up and gone to stay with relatives or to their own vacations, knowing that they will never get any kind of rest if they stay.
Pamplona’s running of […]

I’m going to tell you exactly how you can become a successful trader. But a word of caution. You are probably not going to like the answer. I’m not going to sell you a course or a ’system’ or anything like that. So if that disappoints you, simply skip this and go read something else.
For […]

This is a response to Smith’s essay in the Wall Street Journal on February 7th, 2009 titled “Greed is Good“. In the essay Smith, a former partner at Goldman Sachs argues that bonuses are a necessary part of compensation on Wall Street and that changing this would damage the competitive nature of firms as the […]

Due diligence has many meanings depending on context. If you pressed me for a definition within finance, I would say it is:
The process of investigation undertaken by an party to gather material information on actual or potential risks involved in a financial transaction or relationship.
If you suffered losses as a result of Madoff’s fraud, then […]