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re: Reading "Liar's Poker" now....
Posted on 2/5/11 at 8:11 pm to LSURussian
Posted on 2/5/11 at 8:11 pm to LSURussian
Russian, what schools did you go to, or your educational background? I remember you talking about a 'bank' school a long time ago, just wondering.
Can the books we talk about on MT replace traditional text books, or do you need both?
Also, has anyone ever paid to go and do a 'stock trading class?'
Can the books we talk about on MT replace traditional text books, or do you need both?
Also, has anyone ever paid to go and do a 'stock trading class?'
This post was edited on 2/5/11 at 8:29 pm
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Posted on 2/6/11 at 10:43 am to LSURussian
Get it?
Posted on 2/6/11 at 10:49 am to RedStickBR
Got it. Thanks. Not sure how I would use it though.
Posted on 2/6/11 at 10:57 am to LSURussian
Well if you're a super nerd like me, you'd re-read your notes once a month or share important tidbits with your TD friends.
Posted on 2/6/11 at 11:46 am to RedStickBR
I want notes! 
Does the kindle hurt your eyes?
That notes thing sound cool Then I wont have to highlight books, and then find that part that I highlighted.
Does the kindle hurt your eyes?
That notes thing sound cool Then I wont have to highlight books, and then find that part that I highlighted.
Posted on 2/6/11 at 11:52 am to Tiger4
No, kindles use "e-ink" (think etch-a-sketch) specifically designed to be easy on the eyes. I'd venture to say the text is less strainful on your eyes than normal book text.
I'll be posting some notes soon from a stock book.
I'll be posting some notes soon from a stock book.
Posted on 2/6/11 at 12:15 pm to RedStickBR
Money talk needs a sticky thread for books and one for notes.
Do you think that these books, ex. random walk down wall street,can replace test books though?
Do you think that these books, ex. random walk down wall street,can replace test books though?
Posted on 2/6/11 at 1:18 pm to RedStickBR
quote:
Well if you're a super nerd like me, you'd re-read your notes once a month or share important tidbits with your TD friends.
The difference is I don't have any friends on TD....
I liked this quote from Liar's Poker: "Most of the time when markets move, no one has any idea why."
I will think of that quote (although I've believed the idea for years) the next time a talking head on CNBC tries to explain why the market went up (down) which happens everyday.
Posted on 2/6/11 at 1:43 pm to LSURussian
quote:Perfect example is with the Egypt thing. Some say the market is up because things in Egypt can get worst.
I will think of that quote (although I've believed the idea for years) the next time a talking head on CNBC tries to explain why the market went up (down) which happens everyday.
quote:Found that on Mises.
In fact, the only real force that ultimately makes the stock market or any market rise (and, to a large extent, fall) over the longer term is simply changes in the quantity of money and the volume of spending in the economy. Stocks rise when there is inflation of the money supply (i.e., more money in the economy and in the markets). This truth has many consequences that should be considered.
Since stock markets can fall — and fall often — to various degrees for numerous reasons (including a decline in the quantity of money and spending), our focus here will be only on why they are able to rise in a sustained fashion over the longer term.
This post was edited on 2/6/11 at 2:42 pm
Posted on 2/7/11 at 10:48 am to LSURussian
In my opinion it's ML's best book along with Moneyball.
Posted on 2/7/11 at 10:51 am to Tiger4
quote:
Money talk needs a sticky thread for books and one for notes
I think we had this not too long ago.
Posted on 2/7/11 at 11:06 am to C
I am glad to see this post, I am about halfway through The Big Short right now and I am fascinated with the content....it is my first Lewis book and I have been extremely please thus far....I would highly recommend it to anyone with any interest in the mortgage crisis of recent times.
Posted on 2/7/11 at 12:12 pm to Tiger4
Do you believe the following from your quote to be true?:
quote:
the only real force that ultimately makes the stock market or any market rise (and, to a large extent, fall) over the longer term is simply changes in the quantity of money and the volume of spending in the economy.
Posted on 2/7/11 at 1:08 pm to LSURussian
quote:No, but I agree that if there is inflation, stock prices go up.
Do you believe the following from your quote to be true?:
On a side note I wonder why people run to gold when there is inflation when stocks can protect against inflation too. Both are good investments.
Posted on 2/7/11 at 1:25 pm to LSURussian
quote:
"Most of the time when markets move, no one has any idea why."
I will think of that quote (although I've believed the idea for years) the next time a talking head on CNBC tries to explain why the market went up (down) which happens everyday.
Kai Risdoll says this almost every day. "Stocks were up today on news that [whatever.]" But it's almost a rorschact test, because you can spin almost anything as either good news or bad news.
Say oil prices go up - you can say "stocks rose today as energy companies get a boost from rising prices" or "stocks fell today, led by transportation companies taking a hit over fears of increased fuel costs." Either of them sounds plausible by itself; neither is necessarily true.
Posted on 2/7/11 at 1:39 pm to Cold Cous Cous
quote:
Say oil prices go up - you can say "stocks rose today as energy companies get a boost from rising prices" or "stocks fell today, led by transportation companies taking a hit over fears of increased fuel costs." Either of them sounds plausible by itself; neither is necessarily true.
A few years ago when I was still an employee rather than an employer, I had to take a quick, overnight, out of town road trip for my bank.
Driving there the business news break on the radio said "stocks are up because of encouraging signs that inflation is dead."
The next day I was driving back and the same guy on the same radio station said "stocks are up today because of fears of inflation and people are going into stocks as an inflation hedge."
I just looked at my co-worker traveling companion and said to her, "Can you believe that crap?" She laughed.
I've been super cynical ever since that media talking heads know any more than I do.
Posted on 2/7/11 at 2:03 pm to mule74
quote:
In my opinion it's ML's best book along with Moneyball.
I like ML a lot too, but he gets plenty of the facts wrong - or at least muddied - in this one. His big problem is selection bias - i.e. the people that actually talk to him write the narrative for him.
Posted on 2/7/11 at 3:07 pm to Tiger JJ
I had to read LP as a required reading in one of my college courses.
It pretty much changed my mind as to my career path.
It pretty much changed my mind as to my career path.
Posted on 2/7/11 at 3:32 pm to Tiger JJ
quote:
I like ML a lot too, but he gets plenty of the facts wrong - or at least muddied - in this one. His big problem is selection bias - i.e. the people that actually talk to him write the narrative for him.
Gets the facts wrong in Liar's Poker? Because at least to some degree, he was there.
Posted on 2/7/11 at 3:37 pm to mule74
No. TBS.
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