The Traders Journal

Ten Timeless Tenets of Trading: A 2,500 Year Perspective Part II

by Gatis Roze

Art, history and life can parallel investing.  This blog is my continuation from last week’s Part I where I encouraged readers to be open to a sort of borderless-type of thinking.  To be willing to challenge oneself to look backwards as an aid to moving forwards in the investment arena.  To acknowledge that the past offers us a cumulative depository of wisdom and that art is one vehicle to experience conversations across generations with the masters themselves.  Here is the link to last week’s blog: Read More 

The Traders Journal

Ten Timeless Tenets of Trading: A 2,500 Year Perspective

by Gatis Roze

For those of you who pooh-pooh the lessons of history, listen up!  I myself am guilty of being overly focused on today’s web – obsessed with the latest hot stocks, investment technologies and trading methodologies.  But at times, it’s important to challenge oneself to look backwards as an aid to moving forward more effectively.  I did this just recently, and I came away quite astonished.  Ten days in Rome convinced me that I was naively ignoring powerful historical insights that could help me become the ‘Michelangelo of the Markets” or at the very least improve my Read More 

The Traders Journal

The Most Profitable Takeaways from 'The Traders Journal'

by Gatis Roze

After many years of writing The Traders Journal, I thought it was time to revisit how investors can best maximize the takeaways from these weekly blogs. First and foremost, the reader should understand that my perspective is somewhat irreverent since it is based on the past 25 years of trading my own account full-time unburdened by the distraction of clients.  Some have described my blogs as similar to Harry Potter’s “defense against the dark arts” since one of my objectives is to show individual investors how to make money without drinking the Wall Street Kool-Aid.  Read More 

The Traders Journal

Investing: The Probability Tool

by Gatis Roze

Investing and thinking in probabilities should go hand in hand.  Probabilities can be expressed both quantitatively (as a percentage from zero to one hundred percent) or qualitatively.  I use both, but recently I have found myself gravitating more to qualitative assessments and descriptions. Determining the precise probability of any particular trade working out is always subjective.  In evaluating a trade’s potential, I find that it’s somewhat unreasonable to pin it down with a specific probability label of say, 75%, for example.  Such an exact number implies a Read More 

The Traders Journal

This is What Made a Top Hedge Manager So Successful

by Gatis Roze

I just read The Buy Side, Turney Duff’s book about his years as the biggest and most successful healthcare hedge fund manager on Wall Street.  Let me say up front that I am not reviewing or endorsing the book or its content in any manner.  In fact, I’m certain that I’ll take heat from my trading buddies for even acknowledging this particular Wall Street insider’s sordid story.  Nevertheless, this book reinforced one very significant nugget of truth for me, and I’d like to focus on that alone.   A simplistic encapsulation of this heavy weight Read More