By Cory
Jesse Felder – Presentation on How To Understand Markets
This is a great presentation that Jesse Felder gave at a recent conference. It is a bit of a longer read but definitely worth your time.
Click here to visit Jesse’s website
…
The following is a transcript of the speech I was supposed to give to the Puget Sound chapter of the Market Technician’s Association on December 15, 2016 (before I got snowed in) and finally delivered last week:
Thank you for having me, Tom [McClellan]. It’s an honor to be invited to speak to you and your group today. I’ll say I do feel a bit out place since I’m mainly a fundamental guy or, as you technicians might call me, a “funny mentalist.” In truth, I consider myself a “jack of all trades, master of none” so it feels strange to be asked to speak about any one topic, really. That said, the markets have been a lifelong passion of mine and I might have some wisdom to share even if it’s only from the lessons that can be drawn from my many mistakes.
Why do we trade? Why do we invest or venture into the markets at all? Of course this answer is different for everybody. Some just want to enhance their savings – totally understandable in a world of ZIRP. Some have retirement goals they’re trying to meet. Some of us have other reasons. I didn’t really understand what made me so passionate about the markets until I watched ‘Trader,’ the PBS-produced, internet-banned video of Paul Tudor Jones recorded in early 1987. In the video, Paul tells us what first attracted him to the business:
Now I didn’t have a friend like that in college. I actually discovered my passion for the markets well before that time in my life but that’s exactly how I felt about the markets when I first heard about them. It was 1982 and I was 8 years old and my dad bought an Apple IIe computer. He also bought a game called “Millionaire” which was a very, very primitive stock market simulator. I don’t think video game creators today could come up with something more boring if they tried but, at the time, it was a revelation for me. Check it out:
Thanks to this stupid game I got the bug and it’s had a strong hold on me ever since. But it’s one thing to play a stock market simulation and something else entirely to make real money in the markets. Obviously, everyone would love to become a market wizard like PTJ, but it’s the process of going from an amateur aficionado to becoming a successful trader or investor that is the mountain that we’re all trying to climb. And it requires exactly this sort of passion for, in his words, “the most exciting, the most challenging game of all.” Because without that passion you’ll never be able to endure all of the mistakes, losses, trials, tests, the markets will inevitably put you through.
Probably the biggest …read more
Source:: The Korelin Economics Report
The post Valuable Insights from Around the Web – Mon 5 Jun, 2017 appeared first on Junior Mining Analyst.