The conversion of the United States to socialisim is now officially underway. Fannie and Freddie are now part of the government. Nice.
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From the Washington Post comes a piece of wisdom from Mark Cuban about what book to read that will help to understand the current financial crisis:
“I don’t think there is such a book. In my humble opinion, people who actually believe they can understand all the issues are the ones that got us to where we are today. In reality, there are so many variables and so little data, it’s all a guess. I don’t think a book exists that can explain it. Is there a book out there called ‘No One Has a Clue What Is Going On and the Whole World Is Guessing’?”
And if you can’t understand it all (which is of course what many top traders believe) then the quant view of the world, the stats view of the world, the odds view of the world - sure makes a tremendous amount of common sense to deal with constant uncertainty.
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New Michael Covel blog can be found here.
I have setup an Online Afterword for "The Complete TurtleTrader" that adds even more detail. These are insights, nuggets, and narrative pieces not in my book, but only presented online.
The first ever film documentary to really analyze investor behavior along with the winners and losers in the market is underway.
