This Site is my meditation on the behavior of investors. All of us would like to think we are rational when making investment decisions, but we aren’t because we can’t be. All decisions have an emotional component. In the midst of uncertainty, the emotional trumps the rational and we aren’t even aware of it. Outcomes in the market are uncertain. To succeed, we must find ways to cope with our own irrationality and to exploit the irrationality of the crowd.

Investing is a Darwinian undertaking. Fail to grasp this and you are sure to be market roadkill.

I have been a trader-investor for over fifty years. In the course of five decades of doing it and thinking about it, I’ve distilled one all-important idea: Investing is an unnatural act. Most people will lose over time. Successful investors learn to change how they think in order to succeed.

The kind of change required for success is exceedingly difficult to achieve because it is so contrary to our nature. I write essays to try to frame this reality for myself and, hopefully, for my friends. Welcome!



1 Response to About

  1. rodroth says:

    Thanks for the advice

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