One of the best phrases that I came across over my years of trading was “better to travel than to arrive.” At first I wasn’t sure if it was a phrase coined by some Gordon Gekko wanna-be trader back in the 80s or an abstruse Confucius saying. Either way it baffled me as not only was it grammatically incorrect but was also contradictory to every prose I was taught in school. After watching the pnl trajectory of my first trade,...
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Oil Price – Geopolitics or Fundamentals?
Year to date, Brent oil is down only 3.5%. Given the falls seen across other commodities, why has it held up so well? This past week market has dug up all sorts of acronyms like BAN LGIV SPV etc. responsible for the demise of Copper and Iron ore. Does anyone even know what half of them stand for? Sure the unwind of commodity financing deals and prospects of China reigning in Shadow banking presents a real risk to some of the commodities held in...
Cheap Can Get Cheaper…Value? Shhmaaalue!
When looking at the broader market indices ytd with SPX up 2% and Eurostoxx flat, it may seem the market is just treading merrily along its way. However, underneath the surface, it tells a different story with alot of stock and sub sector rotation appearing. As mentioned previously 2014 will be all about stock selection than playing the broader market momentum. We are now past q4’13 earnings reports, what have we learnt? A poor EU earnings...
