"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius -- and a lot of courage -- to move in the opposite direction." -- Albert EinsteinSomething to think about when developing systems.
MT
The critical ingredient is a maverick mind. Focus on trading vehicles, strategies and time horizons that suit your personality. In a nutshell, it all comes down to: Do your own thing (independence); and do the right thing (discipline). -- Gil Blake
"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius -- and a lot of courage -- to move in the opposite direction." -- Albert EinsteinSomething to think about when developing systems.
Bucket 1 -> 01/01/1995 - 12/31/1996
Bucket 2 -> 01/01/1997 - 12/31/1998
Bucket 3 -> 01/01/1999 - 12/31/2000
Bucket 4 -> 01/01/2001 - 12/31/2002
Bucket 5 -> 01/01/2003 - 12/31/2004
[Clarification: The testing date ranges in the buckets listed above are not the start and end dates for your trades. The date ranges are the start and end dates for your idea. Meaning...all ideas triggered from 01/01/1999 to 12/31/2000 would be in Bucket 3. You would need to track those signals for as long as you stay in them...which may mean all the way to your end date of 12/31/2004. Make sense?
In essence, your overall begin and end dates are 01/01/1995 - 12/31/2004. Then you slice and dice the signals that occurred during that time frame based on entry date into buckets 1 - 5.]
"...the most important quality for a trader to develop is discipline. As you've read, my stubborn ego and impatience prevented me from achieving lasting success and financial security. I hope my story has shown you that any fool can get lucky and quickly make a great deal of money. But, if playing the stock market was always that easy, there would be no need for research and hard work. Considering that all the information you need to be able to profit is available on the Internet, what sets successful traders apart is their ability to wade through all the muck. With regard to your sources, keep an open mind. As my losses demonstrate, if you allow your emotions and ego to control your trading, you are doomed to fail." -- Timothy Sykes from his book, An American Hedge FundWhat great words of advice! Reading Tim's book brought back the memories of what it was like trading in the greatest stock bubble of our time. In fact, I participated in the ISCO trade he mentions in the book. What a ride, indeed!
Newbie - converting csv files to arrays in NumPyGreat message thread on how to convert csv files to numpy arrays. |
Cookbook/InputOutput - Numpy and ScipyFile processing examples using numpy, scipy, and matplotlib. How to read/write a numpy array from/to ascii/binary files. |
Numpy Example ListExamples of Numpy functions such as fromfile(), hsplit(), recarray(), shuffle(), sort(), split(), sqrt(), std(), tofile(), unique(), var(), vsplit(), where(), zeros(), empty(), and many more. |
Introducing Plists: An Erlang module for doing list operations in parallelCould you spawn a trading system process for each stock of a given day's trading (a list)? What if you had 20,000 stocks for a given day? Can plists/erlang handle 20,000 processes without hitting memory constraints? |
130/30 Strategy BacktestedDisagree with comparison of 130/30 to non-leveraged benchmark/strategy. Also, the additional longs didn't improve the long portion of the 130/30 returns compared to the long-only strategy returns. Am I missing something? |
Chapter 22. Struct and Array Modules Overview of the python struct and array modules |
Building Skills in Programming Nice python tutorial. |
Python Grimoire Nice python cookbook. |
Posted: 16 Sep 2007 12:00 AM CDT
- Principle #2: Pull the Tooth - face your fears...don't put off today what you can do today.
- Principle #4: Do Something
Quantmod - Quantitative Financial Modelling Framework for R
Speed up R, Python, and MATLAB - Going Parallel
World Beta - Engineering Targeted Returns and Risk: More On The Endowment Style Of Investing Annotated
Google Mondrian: web-based code review and storage
ONLamp.com -- Numerical Python Basics
Finding Duplicate Elements in an Array :: Phil! Gregory Annotated
Tom's article:
There's a big difference between buying a stock after thoroughly researching it and buying a stock by hitting it on a dartboard.
My comments:
Is there really a big difference...in outcome? Sure, the person may feel different about the investment...but based on outcome alone...historical evidence would suggest the odds of success are approximately the same.
Tom's Article:
Gambling - "Any activity in which money is put at risk for the purpose of making a profit, and which is characterized by some or most of the following...no net economic effect results."
My comments:That's it from here where I've got a softball game to prepare for this week. I haven't played softball since my college days. And haven't thrown many balls since my shoulder surgery. Should be an interesting show to say the least.
I would argue that each player in the stock market provides a positive economic effect. The investor provides long-term capital to companies in need of capital. The speculator and gambler provide liquidity. Sure there are negative effects from all players...investors prop up some companies that probably shouldn't receive further funding...and will eventually go bust. And speculators/gamblers can turn liquidity into a frothing market that can cause long-term problems after the swell has subsided.
Of course, your point is true that gamblers' short-term trades may be a net effect with each other...but that activity regardless of reason or length of hold...still provides liquidity for other players in the market.
Basically, remove any player from the game...and the market wouldn't be what it is.
Background on Robert Gillam and McKinley Capital Management.Here's an article from Mr. Gillam's son, Robert A. Gillam...
U.S. Blinders Hinder Stock Pickers. This is a great article covering Mr. Gillam's expansion into international investing.
STUDY CHALLENGES CONVENTION: Growth, value style distinctions also important in international investing from Pensions & Investments.Have a great week!
This breakup between styles reminds me of an interview with DFA's founder, Rex Sinquefield. Mr. Sinquefield discussed how value stocks were riskier than growth stocks despite their similar volatility. Thus the reason for value stock's higher returns over the years.
"I really believe that success is just getting up one more time than you fall. It doesn't come from one brilliant idea, but from a bunch of small decisions that accumulate over the years. And you shouldn't underestimate the amount of work that's involved, the amount of fear that's involved." -- Roxanne QuimbyI love unconventional success stories. And Inc.com shares a great one with Burt's Bees founder, Roxanne Quimby.
After Burt's Bees, What? from Business Week
Interview with Burt's Bees founder, Roxanne Quimby from Hilary Magazine.
"The bursting ofBut, plenty of hedging is done as to the timing of the fall.this bubble will be across all countries and all assets, with the probable exception of high-grade bonds," Grantham warned. "Since no similar global event has occurred before, the stresses to the system are likely to be unexpected. All of this is likely to depress confidence and lower economic activity."
As for timing, he (Grantham) concedes that's impossible to predict. But here's the kicker: Even Grantham thinks you probably need to be bullish right now. The reason? Most bubbles, he notes, go through a short but dramatic "exponential phase" just before they burst. Like Japan in 1989 or the Internet in early 2000.How does this type of prognostication help anyone...I asks ya's?
Yes, we will make the May 1st deadline unless we don't.The above statement doesn't work because it's not wordy enough. Too simple...straight to the point.
We fully expect to meet the May 1st deadline. All components have been reviewed, tested, and verified to meet our stringent requirements. But, there is always the case that problems may arise due to circumstances outside our control. These problems may impact our schedule and possibly result in extending the deadline.There, that's better. A great hedge!
Excellent investment advice. Keep it simple...
- post by taylortreeThere are 2 simple questions you must first answer:
1. What is the time-frame in which you need access to your money? (next week? next year? 10 years? retirement?)
2. How much risk and volatility are you comfortable with?
The Answer:
Asset Allocation... not fundamental analysis, not technical analysis, not market
trending, not tips from brokers and analysts ... but straight up asset
allocation.