4 ms·
Right on! The part I liked the most is the Michael Jordan quote. I didn't know MJ so statistical, and now I respect him a lot more. A trader should do the sam
by willz 16y ago
Right on!
The part I liked the most is the Michael Jordan quote. I didn't know MJ so statistical, and now I respect him a lot more.
A trader should do the same. A simple system of logging trading decisions like MJ did will greatly help a trader improve.
I always wish there are some web app that logs what those pundits (stocks or whatever) said, and keep a tab of their accuracy.
- chasingsparks 16y agoSome of the more popular pundits are visible enough that independent researchers compile comparative reports on them versus the market in general. Their are many on the (annoyingly loud) lightning rod that is Jim Cramer (e.g. http://www.scribd.com/doc/15672032/Investing-in-Mad-Money http://www.scribd.com/doc/15672032/Investing-in-Mad-Money). Other people have much more precise records for comparison: http://finance.yahoo.com/q/ta?s=BRK-A&t=my&l=on&z=m&q=l&p=&a=&c=SPY http://finance.yahoo.com/q/ta?s=BRK-A&t=my&l=on&... In a similar vein, WSJ had a very clever "dartboard contest" for years. (http://www.investorhome.com/darts.htm http://www.investorhome.com/darts.htm) Unfortunately, it requires a subscription to see the results. You might find it interesting if you have one.
- willz 16y agoThanks for the links. For your yahoo link, what does "BRK-A" vs "SPY" mean?
- chasingsparks 16y agoBerkshire Hathaway class A stocks, i.e., Warren Buffet's bets. SPY = S&P500 Index ETF. That was actually a minor error on my part. I meant to link you to a comparison of BRK-A versus the SP500 index, not an trust that tries to mirror the SP500 index. Thankfully, for comparative purposes, they are virtually identical.