Monday, October 12, 2020

Digital Currencies Are The Future - Jim B. Rogers

Digital currency is the future says Jim Rogers. The legendary investor predicts governments will create their own digital currencies. Unlike Bitcoin, these digital currencies will be controlled by the governments that create them. 

How The Rich People Tend To Behave

Interesting readings on financial twitter today:

"Material possessions shouldn't be the goal, experiences and stories are so much more satisfying."

-- Jim OShaughnessy, Founder, Chairman, OSAM LLC

“I observed at an early age, the rich people around me rarely bought anything, while the poor people around me were always shopping.”

-- Tom Ragland

"The best aren't working for money, it's about the satisfaction of creating something out of nothing."

--Orange Book

On other topics, Adam Grant has a will have his new book out soon,

"Great thinkers don’t boast about how much they know. They marvel at how little they understand. If knowledge is power, knowing what we don't know is wisdom. It gives us the mental agility to rethink our assumptions."

China Selling U.S. Treasuries Will Pressure Interest Rates

China reducing American debt will put pressure on U.S. interest rates, they should be going up. From the Chinese standpoint, it’s a smart economic and investment move, one that would strengthen the Chinese yuan. If they sell US debt, they sell dollars, therefore their currency goes higher.

Thursday, October 8, 2020

2020 Election: Biden With Largest Lead

 From Nate Silver's, Five Thirty Eight:

"Really more polls are coming in showing Biden up double digits than not at this point. He's up to +9.8 in our national polling average, his largest lead of the campaign."

-- Biden 51.9%
-- Trump 42.1%

Markets: Commodities Still Get No Respect

Commodities still get no respect most commodities at lest, certainly not now. I mean, there have been
periods, for example crude oil went to $150 a barrel for a minute, or for a day. Things do happen but for the most part people have ignored commodities again. But don't worry they'll be back especially if we keep printing money the way we're printing money.

If economies keep collapsing and nobody can go to work, that cuts demand but it also cuts supply eventually. If they keep printing money the demand will be there eventually too.

Monday, October 5, 2020

Jack Schwager: Psychology Is More Important Than Technique

 Listen to the latest video interview of Jack Schwager, this weekend at the Traders Summit 2020. In this interviews Jack addressed several different topics including his new book Unknown Market Wizards:  

The world-famous author Jack Schwager gave a fantastic interview and took questions from panelists and guests. He revealed his new book “Unknown Market Wizards”, adding that it’s a collection of interviews of highly successful traders who are relatively unknown to the world. He said that stock traders and futures traders are usually quite different and closed with a pearl of advice: “Psychology is more important than technique”.

Tech Stocks: A Ticking Time Bomb!

This bull market is getting very old. Several hyped-up stocks are likely to crash when the next bear market comes. A time bomb is ticking in the technology space. 

People are thinking that stocks like Amazon (AMZN) and Alibaba can never go down. I advise investors to read market history that they can go down and they will go down. We will have more bear markets!

When the bear market comes, emerging markets like India will go down a lot. India has been building up debt, and I don’t like that!

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