Hedge Fund Market Wizards - coming soon
Re: Hedge Fund Market Wizards - coming soon
O "New Market Wizards" tambem é bastante bom
Só analiso instrumentos em que detenho interesse , veja o disclaimer aqui-----------»........................
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Re: Hedge Fund Market Wizards - coming soon
Para quem gosta de livro estilo Market Wizards e principalmente os dos livros do Michael Lewis tem aqui um artigo porreiro:
Treasure Hunters of the Financial Crisis
Treasure Hunters of the Financial Crisis
Artigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
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Re: Hedge Fund Market Wizards - coming soon
Penso que o mentoring é muito importante , contudo ha quem defenda que nem por isso.
Tenho pena de nao ter apreendido mais com alguns professores , isto é , trabalhado com eles "on the field" ou "on job training" . Faria toda a diferença.. aprende se muito mais rapido e se calhar com menos erros (apesar de ser importante aprender com eles , se evitarmos melhor e aprende se a mesma) . Isto vem na sequencia da lecture com Jack Swagger , que muito tem para dizer..
Muitos dos pensamentos e estrategias nao sao bem adequadas para carteiras com valores abaixo de 25k´s por exemplo. Muita gente começa com pouquissimo e a estrategia tera que ser outra . As bases poderao ser a mesma.
Tenho pena de nao ter apreendido mais com alguns professores , isto é , trabalhado com eles "on the field" ou "on job training" . Faria toda a diferença.. aprende se muito mais rapido e se calhar com menos erros (apesar de ser importante aprender com eles , se evitarmos melhor e aprende se a mesma) . Isto vem na sequencia da lecture com Jack Swagger , que muito tem para dizer..
Muitos dos pensamentos e estrategias nao sao bem adequadas para carteiras com valores abaixo de 25k´s por exemplo. Muita gente começa com pouquissimo e a estrategia tera que ser outra . As bases poderao ser a mesma.
Só analiso instrumentos em que detenho interesse , veja o disclaimer aqui-----------»........................
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Re: Hedge Fund Market Wizards - coming soon
Para trading o Optimal f é bastante superior IMHO
No man is rich enough to buy back his past - Oscar Wilde
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Re:
AutoMech Escreveu:Fiquei a pensar nas #22 e veio-me à memória o Parrondo's paradox. Já ficou uma anotação no caderno das ideias a aprofundar.
Kelly formula Money Management Using The Kelly CriterionArtigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
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Re:
AxeRiver Escreveu:Li apenas parcialmente. Os 3 primeiros capitulos.
Pareceu-me até agora que está mais "maçudo". As estratégias são mais conservadoras, muito baseadas no controlo do risco. Os valores em carteira também são astronómicos.
A meu ver torna-se menos interessante pois falamos de uma realidade completamente diferente. Os números que negoceiam assim o obrigam.
Sabes que isso depende do leitor
Ainda não li o livro todo mas as entrevistas que li são simplesmente brilhantes! O nível financeiro de algumas estratégias é bastante elevado e não sei até que ponto vai interessar ao trader "comum" pois a maioria das coisas que eles fazem nunca na vida vamos ter capital/possibilidade de fazer.
Na mesma perspectiva de entrevista/conversa com gestores de centenas de milhões tb estou a ler The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money embora quer as entrevistas sejam inferiores quer os gestores menos interessantes (muito deve-se à impossibilidade de uso de certo produtos de controlo de risco e alavancagem de alguns dos gestores).
Artigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
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Re: Hedge Fund Market Wizards - coming soon
Parece que o Jack Schwager está a fazer uma data de seminários com uma corretora cá do burgo ...
- Mensagens: 1750
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Li apenas parcialmente. Os 3 primeiros capitulos.
Pareceu-me até agora que está mais "maçudo". As estratégias são mais conservadoras, muito baseadas no controlo do risco. Os valores em carteira também são astronómicos.
A meu ver torna-se menos interessante pois falamos de uma realidade completamente diferente. Os números que negoceiam assim o obrigam.
Pareceu-me até agora que está mais "maçudo". As estratégias são mais conservadoras, muito baseadas no controlo do risco. Os valores em carteira também são astronómicos.
A meu ver torna-se menos interessante pois falamos de uma realidade completamente diferente. Os números que negoceiam assim o obrigam.
"You want to know a little about a lot"
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1. As long as no one cares about it, there is no trend. Would you be short Nasdaq in 1999? You can’t be short just because you think fundamentally something is overpriced.
2. All markets look liquid during the bubble (massive uptrend), but it’s the liquidity after the bubble ends that matters.
3. Markets tend to overdiscount the uncertainty related to identified risks. Conversely, markets tend to underdiscount risks that have not yet been expressly identified. Whenever the market is pointing at something and saying this is a risk to be concerned about, in my experience, most of the time, the risk ends up being not as bad as the market anticipated.
4. The low-quality names tend to outperform early in the cycle, and the high-quality names tend to outperform toward the end of the cycle.
5. Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price because if the size is too large, a trader will be more likely to exit a good trade on a meaningless adverse price move. The larger the position, the greater the danger that trading decisions will be driven by fear rather than by judgment and experience.
6. Virtually all traders experience periods when they are out of sync with the markets. When you are in a losing streak, you can’t turn the situation around by trying harder. When trading is going badly, Clark’s advice is to get out of everything and take a holiday. Liquidating positions will allow you to regain objectivity.
7. Staring at the screen all day is counterproductive. He believes that watching every tick will lead to both selling good positions prematurely and overtrading. He advises traders to find something else (preferably productive) to occupy part of their time to avoid the pitfalls of watching the market too closely.
8. When markets are trending up strongly, and there is bad news, the bad news counts for nothing. But if there is a break that reminds people what it is like to lose money in equities, then suddenly the buying is not mindless anymore. People start looking at the fundamentals, and in this case I knew the fundamentals were very ugly indeed.
9. Buying low-beta stocks is a common mistake investors make. Why would you ever want to own boring stocks? If the market goes down 40 percent for macro reasons, they’ll go down 20 percent. Wouldn’t you just rather own cash? And if the market goes up 50 percent, the boring stocks will go up only 10 percent. You have negatively asymmetric returns.
10. If a stock is extremely oversold—say, the RSI is at a three-year low—it will get me to take a closer look at it.8 Normally, if a stock is that brutalized, it means that whatever is killing it is probably already in the price. RSI doesn’t work as an overbought indicator because stocks can remain overbought for a very long time. But a stock being extremely oversold is usually an acute phenomenon that lasts for only a few weeks.
11. If you don’t understand why you are in a trade, you won’t understand when it is the right time to sell, which means you will only sell when the price action scares you. Most of the time when price action scares you, it is a buying opportunity, not a sell indicator.
12. Normally, I let winners run and cut losers. In 2009, however, as a result of the posttraumatic effects of going through the September 2008 to February 2009 period—talking to clients who are going out of business and seeing 50 percent of your fund redeemed is all very wearing—I got into the habit of snatching quick 10 to 15 percent profits in individual positions. Most of these positions then went up another 35 to 40 percent. I consider my pattern of taking quick profits in 2009 a dreadful error that I think came about because I had lost a degree of confidence due to experiencing my first down year in 2008.
13. As an equity trader, I learned the short-selling lessons relatively early. There is no high for a concept stock. It is always better to be long before they have already moved a lot than to try to figure out where to go short.
14. Do you know what happens in a bull market? Prices open up lower and then go up for the rest of the day. In a bear market, they open up higher and go down for the rest of the day. When you get to the end of a bull market, prices start opening up higher. Prices behave that way because in the first half hour it is only the fools that are trading [pause] or people who are very smart.
15. Now that you have switched from net long to net short, what would get you long again? – Buying. If all of a sudden stocks stopped going down on bad news that would be a positive sign.
16. Lots of companies screen as being “cheap.” I think that it’s easy to avoid value traps. The trick is to stay away from companies that can’t grow their cash flow and increase intrinsic value…As Buffett says, “Time is the enemy of the poor business and the friend of the great business.”
17. If I wrote a book about a strategy that worked every month, or even every year, everyone would start using it, and it would stop working. Value investing doesn’t always work. The market doesn’t always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn’t work. And that is a very good thing. The fact that our value approach doesn’t work over periods of time is precisely the reason why it continues to work over the long term.
18. The institutionalization of the market has shortened time horizons—it has reduced the window of time managers have to outperform. Most managers can’t wait for two years for an investment to work. They have to perform now. Their institutional and individual clients appear to demand it through their money flows.
19. The single best-performing mutual fund for the entire decade was up 18 percent a year, on average, during a period when the market was flat, yet the average investor in that fund lost 8 percent. That is because every time the fund did well, people piled in, and every time it underperformed, people redeemed.
Source: Schwager, Jack D. (2012-04-25). Hedge Fund Market Wizards. John Wiley and Sons.
2. All markets look liquid during the bubble (massive uptrend), but it’s the liquidity after the bubble ends that matters.
3. Markets tend to overdiscount the uncertainty related to identified risks. Conversely, markets tend to underdiscount risks that have not yet been expressly identified. Whenever the market is pointing at something and saying this is a risk to be concerned about, in my experience, most of the time, the risk ends up being not as bad as the market anticipated.
4. The low-quality names tend to outperform early in the cycle, and the high-quality names tend to outperform toward the end of the cycle.
5. Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price because if the size is too large, a trader will be more likely to exit a good trade on a meaningless adverse price move. The larger the position, the greater the danger that trading decisions will be driven by fear rather than by judgment and experience.
6. Virtually all traders experience periods when they are out of sync with the markets. When you are in a losing streak, you can’t turn the situation around by trying harder. When trading is going badly, Clark’s advice is to get out of everything and take a holiday. Liquidating positions will allow you to regain objectivity.
7. Staring at the screen all day is counterproductive. He believes that watching every tick will lead to both selling good positions prematurely and overtrading. He advises traders to find something else (preferably productive) to occupy part of their time to avoid the pitfalls of watching the market too closely.
8. When markets are trending up strongly, and there is bad news, the bad news counts for nothing. But if there is a break that reminds people what it is like to lose money in equities, then suddenly the buying is not mindless anymore. People start looking at the fundamentals, and in this case I knew the fundamentals were very ugly indeed.
9. Buying low-beta stocks is a common mistake investors make. Why would you ever want to own boring stocks? If the market goes down 40 percent for macro reasons, they’ll go down 20 percent. Wouldn’t you just rather own cash? And if the market goes up 50 percent, the boring stocks will go up only 10 percent. You have negatively asymmetric returns.
10. If a stock is extremely oversold—say, the RSI is at a three-year low—it will get me to take a closer look at it.8 Normally, if a stock is that brutalized, it means that whatever is killing it is probably already in the price. RSI doesn’t work as an overbought indicator because stocks can remain overbought for a very long time. But a stock being extremely oversold is usually an acute phenomenon that lasts for only a few weeks.
11. If you don’t understand why you are in a trade, you won’t understand when it is the right time to sell, which means you will only sell when the price action scares you. Most of the time when price action scares you, it is a buying opportunity, not a sell indicator.
12. Normally, I let winners run and cut losers. In 2009, however, as a result of the posttraumatic effects of going through the September 2008 to February 2009 period—talking to clients who are going out of business and seeing 50 percent of your fund redeemed is all very wearing—I got into the habit of snatching quick 10 to 15 percent profits in individual positions. Most of these positions then went up another 35 to 40 percent. I consider my pattern of taking quick profits in 2009 a dreadful error that I think came about because I had lost a degree of confidence due to experiencing my first down year in 2008.
13. As an equity trader, I learned the short-selling lessons relatively early. There is no high for a concept stock. It is always better to be long before they have already moved a lot than to try to figure out where to go short.
14. Do you know what happens in a bull market? Prices open up lower and then go up for the rest of the day. In a bear market, they open up higher and go down for the rest of the day. When you get to the end of a bull market, prices start opening up higher. Prices behave that way because in the first half hour it is only the fools that are trading [pause] or people who are very smart.
15. Now that you have switched from net long to net short, what would get you long again? – Buying. If all of a sudden stocks stopped going down on bad news that would be a positive sign.
16. Lots of companies screen as being “cheap.” I think that it’s easy to avoid value traps. The trick is to stay away from companies that can’t grow their cash flow and increase intrinsic value…As Buffett says, “Time is the enemy of the poor business and the friend of the great business.”
17. If I wrote a book about a strategy that worked every month, or even every year, everyone would start using it, and it would stop working. Value investing doesn’t always work. The market doesn’t always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn’t work. And that is a very good thing. The fact that our value approach doesn’t work over periods of time is precisely the reason why it continues to work over the long term.
18. The institutionalization of the market has shortened time horizons—it has reduced the window of time managers have to outperform. Most managers can’t wait for two years for an investment to work. They have to perform now. Their institutional and individual clients appear to demand it through their money flows.
19. The single best-performing mutual fund for the entire decade was up 18 percent a year, on average, during a period when the market was flat, yet the average investor in that fund lost 8 percent. That is because every time the fund did well, people piled in, and every time it underperformed, people redeemed.
Source: Schwager, Jack D. (2012-04-25). Hedge Fund Market Wizards. John Wiley and Sons.
Remember the Golden Rule: Those who have the gold make the rules.
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
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- Registado: 28/2/2007 14:18
HFMW Obsvtn#31 Option prices assume normal distrib. Best option trade opps arise when there are reasons to assume this assumption is wrong.
HFMW Obsvtn#32 Option prices assume equal probability of X% rise and X% fall. Identifying when assumption wrong provides trade opportunities.
HFMW Observation #33 Part 1 The contention that market price is always right is inconsistent with empirical evidence.
HFMW Observation #33 Part 2 Trading opportunities arise when market price is clearly wrong.
HFMW Observation #34 If there is good reason to expect trend, options will be underpriced.
HFMW Observation #35 Current correlations are not necessarily good predictors of future correlation.
HFMW Observation #36 One of biggest misconceptions of investing public is equating risk and volatility.
HFMW Observation #37 Major risks are often not evident in track record; hence not reflected by volatility.
HFMW Observation #38 Sometimes volatility can be high because of large gains even though risk may be constrained.
HFMW Observation #39 Some managers have low volatility but high risk; other managers have high volatility and low risk.
HFMW Observation #40 Flexibility to change views as dictated by research or market action is a signature trait of the Market Wizards.
Remember the Golden Rule: Those who have the gold make the rules.
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
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- Registado: 28/2/2007 14:18
HFMW Observation #21 Sometimes the seemingly impossible is possible if approached from a completely different perspective.
HFMW Observation #22 Part 1 In blackjack, betting more on high probability hands can transform a negative edge game into a positive one.
HFMW Observation #22 Part 2 Trading Corollary: Varying trade size by confidence in trade can increase the trading edge.
HFMW Observation #23 Part 1 Emotions are deadly for trading.
HFMW Observation #24 There is no single solution to the markets, and any solutions that do exist are constantly changing.
HFMW Obsvtn #25 There is an optimal trade size: the Kelly criterion. The rub is you need a good estimate of your expected gain per trade.
Expandir
HFMW Observation #26 The penalty for trade size greater than Kelly criterion is severe: both increased risk of ruin and reduced return.
HFMW Obsrvtn #27 Even assuming positive edge, beyond certain trade size trading larger will reduce return because of adverse impact of vol.
HFMW Observation #28 The greater the volatility, the greater the chance trader (or investor) will abandon approach on one of the drawdowns.
HFMW Observation #29 Seek asymmetric trades—trades in which the potential gain if right significantly exceeds the maximum loss if wrong.
HFMW Observation #30 Having the patience to wait for high conviction trades will greatly increase the return/risk of individual trades.
Remember the Golden Rule: Those who have the gold make the rules.
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
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Não sei se já referiram por aí.
Poderão querer assistir ao webinar com o Sr Schwager, autor dos market wizards.
Dia 30 no BigMikeTrading: http://www.bigmiketrading.com/
Poderão querer assistir ao webinar com o Sr Schwager, autor dos market wizards.
Dia 30 no BigMikeTrading: http://www.bigmiketrading.com/
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HFMW Observation #11
The breakdown of correlation between two markets often signals an impending price move.
HFMW Observation #12
One way to avoid significant losses: Define a max % loss limit for month and liquidate entire portfolio if reached.
WFMW Observation #13
The worst thing a trader can do is freeze; you need to know how you will respond in any situation.
HFMW Observation #14
Even technical traders can benefit by understanding the key fundamental driver likely to determine market direction.
HFMW Observation #15
The usefulness of fundamentals for timing is as contrarian indicator—the failure of mkt to respond as expected to news.
HFMW Observation #16
If bullish, buy the strongest market in a sector; if bearish, sell the weakest.
HFMW Observation #17
The failure of a mkt to respond as expected to price move in a correlated market can reveal inherent strength or weakness.
HFMW Observation #18
Limiting max loss per trade to predetermined small fixed % is one of the simplest and most effective risk control methods
HFMW Observation #19
Systems that do well across many mkts are more likely to continue to work than systems that only do well in a single mkt.
HFMW Observation #20
Most important rule to succeed in trading: Find a methodology that fits your personality and comfort level.
Remember the Golden Rule: Those who have the gold make the rules.
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
***
"A soberania e o respeito de Portugal impõem que neste lugar se erga um Forte, e isso é obra e serviço dos homens de El-Rei nosso senhor e, como tal, por mais duro, por mais difícil e por mais trabalhoso que isso dê, (...) é serviço de Portugal. E tem que se cumprir."
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- Mensagens: 3030
- Registado: 28/2/2007 14:18
VirtuaGod Escreveu:Acho que muita gente caiu na treta do "The Wolf of Wall Street" :-) Tive sorte de ler o primeiro capítulo grátis via kindle o que me fez não comprar o livro. O gajo continua a ser bom aldrabão
Depois vês o filme que está na calha e só perdes no máximo umas duas horas.
No man is rich enough to buy back his past - Oscar Wilde
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Acho que muita gente caiu na treta do "The Wolf of Wall Street" :-) Tive sorte de ler o primeiro capítulo grátis via kindle o que me fez não comprar o livro. O gajo continua a ser bom aldrabão
Artigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
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- Mensagens: 5707
- Registado: 20/11/2002 21:56
- Localização: Porto
AutoMech Escreveu:Já agora, atrás do Liars Poker li também o The Wolf of Wall Street que não recomendo. Tem poucos aspectos técnicos e é mais a vida louca de um drogado, que por acaso manipulava o mercado, do que outra coisa. Não tirei dali grande coisa (para não dizer nada). Considero que foi uma perda de tempo.
Podes crer!
"People want to be told what to do so badly that they'll listen to anyone." - Don Draper, Mad Men
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- Registado: 12/5/2004 19:52
VirtuaGod Escreveu:Tenho tb lido coisas muito boas sobre The Little Book of Commonsense Investing escrito pelo Bogle (entre outras coisas fundador da Vangard, uma das empresas que tem mais dinheiro sob gestão do Mundo). Este livro virá na próxima compra a fazer na amazon.
Esse (e o tópico do Enriquecer Devagar) são obrigatórios para quem queira constituir uma carteira passiva. E mesmo para quem não queira, ajuda a olhar para o mercado de outra forma (sobretudo a questão do 'bater o mercado').
O Liars Poker é giro para ver como se 'martelam' os clientes.
Já agora, atrás do Liars Poker li também o The Wolf of Wall Street que não recomendo. Tem poucos aspectos técnicos e é mais a vida louca de um drogado, que por acaso manipulava o mercado, do que outra coisa. Não tirei dali grande coisa (para não dizer nada). Considero que foi uma perda de tempo.
No man is rich enough to buy back his past - Oscar Wilde
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VirtuaGod Escreveu:Michael Lewis é outro escritor bem cotado (embora mais numa perpectiva mais leve e menos voltada para investimentos que os anteriores), com o seu Liar's Poker e o The Big Short. São tantos que uma pessoa se perde. Não há disponibilidade para ler tudo!! Infelizmente ainda não li nada deste escritor embora tenha bastante vontade...
excelentes esses 2, recomendo!
Free Minds and Free Markets
... forecasting exchange rates has a success rate no better than that of forecasting the outcome of a coin toss - Alan Greenspan (2004)
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AutoMech Escreveu:Trading Systems and Methods do Kaufman.
Já está na wishlist
Artigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
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- Mensagens: 5707
- Registado: 20/11/2002 21:56
- Localização: Porto
rsacramento Escreveu:pelos vistos vocês tratam isto por tu: digam lá 2 livros que recomendem
A questão é que quando já se leu e releu todos os MWs a maioria destes princípios são repetidos porque sobressaem sistematicamente nas entrevistas (daí os MWs continuarem a ser livros actuais porque mostram como pode haver formas tão diferente de abordar o mercado).
É dificil recomendar dois livros porque há tantas áreas: tecnical, fundamental, psicologia, trading systems, money managemnt, etc. Há quem se interesse mais por umas do que por outras.
Eu escolhia o Phantom of the pits, o Trading Systems and Methods do Kaufman e lia os primeiros dois capitulos do The Mathematics of Money Management do Ralph Vice, sobre o Fixed fractional que é uma modificação à formula de Kelly, aplicada ao trading.
No man is rich enough to buy back his past - Oscar Wilde
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- Mensagens: 9360
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- Localização: 16
rsacramento Escreveu:pelos vistos vocês tratam isto por tu: digam lá 2 livros que recomendem
Posso recomendar o More Money than God como sendo um dos meus favoritos e o Stocks for the long run que foi talvez o livro que mais me abriu os horizontes.
Tenho tb lido coisas muito boas sobre The Little Book of Commonsense Investing escrito pelo Bogle (entre outras coisas fundador da Vangard, uma das empresas que tem mais dinheiro sob gestão do Mundo). Este livro virá na próxima compra a fazer na amazon.
Michael Lewis é outro escritor bem cotado (embora mais numa perpectiva mais leve e menos voltada para investimentos que os anteriores), com o seu Liar's Poker e o The Big Short. São tantos que uma pessoa se perde. Não há disponibilidade para ler tudo!! Infelizmente ainda não li nada deste escritor embora tenha bastante vontade...
Inside the House of Money tb deve ser interessante
Artigos e estudos: Página repositório dos meus estudos e análises que vou fazendo. Regularmente actualizada. É costume pelo menos mais um estudo por semana. Inclui a análise e acompanhamento das carteiras 4 e 8Fundos.
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
Portfolio Analyser: Ferramenta para backtests de Fundos e ETFs Europeus
"We don’t need a crystal ball to be successful investors. However, investing as if you have one is almost guaranteed to lead to sub-par results." The Irrelevant Investor
-
- Mensagens: 5707
- Registado: 20/11/2002 21:56
- Localização: Porto