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« Use the News and Lose: Survivor Bias and the Worst Books of All Time | Main | Weighing the Week Ahead: Perception versus Objectivity »

September 08, 2010

Comments

shaun

Hi There,

As a poker player and investor, I would just like to comment that people do not win poker tournaments by going "all in." Watching tv could lead one to think that, but it is untrue.

People win poker tournaments by gradually building up their chip stacks by making high probability 'bets' (or buys as it were). And they do this with an amount of money that reflects both the amount of money they have in their stack, and the amount of money that is on the table to be had. (risk vs reward).

Poker players who repeatedly go 'all-in', even on high probability plays, will eventually (like any investor or trader who does so), find themselves bankrupt.

Cheers

James Fowlkes

The more people I talk to it really seems as if the smaller investor is terrified of equities. Recently, I've been telling anyone who asks me what to do in this market to wait. That's it, just wait. There is no trend in equities right now. Stocks have moved sideways for about 3 months now. We might get some movement now that the Summer is over and the B-S-D's have returned from the Hamptons. No reason to try to guess though. There will be plenty of time to get long some good stocks if/when an uptrend shows itself.

derek

excellent piece, I never thought I'd find myself advising people not to give up on stocks but I believe that's where the sentiment is going to take me

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