Briefly Speaking

日期:2014/01/16

1. The book Too Different For Comfort by Louis-Vincent Gave is one of the best melanges of theoretical and practical insights for investment that I have read. Every business school student should read it as an antidote and every investor should read it for ammunition.

2. The ephemeral drops in the stocks of individual companies from quantum events like earnings misses should be studied and generalized in a scientific fashion for investment and swing opportunities.

3. Smith has the worst record of any NBA player for + and - for long durations of play and has the worst character. Yet whenever the Knicks lose a game without him, there is a witch hunt for the coach. "You needed him to spark the third quarter". I agree that the problem is Anthony. How does a leader like him let a man party late into the night when the games are so crucial and his %s are so off.



4. I often find that at the hour itself like 1 pm exactly there are big moves like in the old days when traders had to hand in their cards on the hour. These moves often coincide with the finales of music on the radio. It's not change. The music has to end at the hour and the pieces have to have a climactic ending to heighten the listener's emotions.

5. Birinyi's book The Master Trader is an amazingly good compilation of money making techniques from a master trader.

6. Everyone talks about the end of gold because other things are so good. But gold has been a store of value for many thousands of years, and it's beautiful so whenever it has a big decline, and the expectations look good, I buy it. It has not been entirely futile

7. My books from the 19th century have the same complaints about flexions making a fortune from inside information from their cronies at the dept of the interior that we find so pervasive and maddening now.

8. I am reading some books on differential and difference equations so I can better understand excellent books like Applied Probability Models by D. L Minh and of course the fantastic book Evolutionary Dynamics by Martin Nowak. Many of the techniques he analyzes to win the prisoner's dilemma game have direct applications to markets. The best math course for an budding quant investor to take is one in differential equations or difference equations rather than advanced calculus. I find the book Maths by Jenny Olive a useful bedside and long plane ride companion. I find that practicing one's integration is a great antidote for old man's disease.

9. Speaking of old man's disease, a certain sage's cash flow statement shows that his company regularly pays a cash service rate of 11% versus the accrued service rate of 38% on the earnings statements.

10. To what extent do companies that have a high sales per employee ratio and a higher % of revenues coming from activities related to the dept of the interior performance than the average?