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Lessons from a Trading Great: Paul Tudor Jones (PTJ)

From Jack Schwager’s Market Wizards: October 1987 was a devastating month for most investors as the world stock markets witnessed a collapse that rivaled 1929. That same month, the Tudor Futures Fund, managed by Paul Tudor Jones, registered an incredible 62 percent return. Jones has always been a maverick trader. His trading style is unique and his performance is uncorrelated with other money managers. Perhaps most important, he has done what many thought impossible: combine five consecutive, triple-digit return years with very low equity retracements. (I am fudging slightly; in 1986, Paul’s fund realized only a 99.2 percent gain!) Jones […]

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Lessons From A Trading Great: Stanley Druckenmiller

The “greatest money making machine in history”, a man with “Jim Roger’s analytical ability, George Soros’ trading ability, and the stomach of a riverboat gambler” is how fund manager Scott Bessent describes Stanley Druckenmiller. That’s high praise, but if you look at Druckenmiller’s track record, you’ll find it’s well deserved. Druck averaged over 30% returns the last three decades — impressive. But what’s even more astonishing is the lack of volatility… the guy almost never loses. He never had a single down year and only had five losing quarters out of 120 altogether! That’s absolutely unheard of. And he did […]

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6 Step Plan to Make Our Money Great Again

Donald Trump will be sworn in as the 45th president of the United States in January. Americans will then find out then if “Make America Great Again” is more than a campaign slogan. It isn’t going to be easy. On day one, he will inherit a $ 20 trillion federal deficit and a moribund economy increasingly reliant on low interest rates and central bank stimulus. There are plenty of economic problems to address, but the lack of sound money lies at the heart of them all. The Federal Reserve Note – a privately issued, un-backed debt instrument that supplanted our […]

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Make Money Great Again

Who could possibly have predicted the astounding results of the November 8th presidential election? A lot of folks, it turns out. Better than 60 million at last count. But that doesn’t include highly paid, and obviously over-paid, pollsters. And it doesn’t include “journalists,” who showered their elitist agendas on television screens, in newsprint headlines and across cyberspace during the 17-month presidential campaign. In short, those posing as experts predicting the future blew it. And they blew it “big league,” both before and after the election. “No question – markets are going to tank all over the world,” said top experts […]

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Lessons From A Trading Great: George Soros

Remember the scene from the 90’s classic, The Sandlot, where “Smalls” loses his father’s Babe Ruth autographed baseball to “The Beast” and the other kids question him in disbelief, saying: Smalls: I was gonna put the ball back. Squints: But it was signed by Babe Ruth! Smalls: Yeah, you keep telling me that! Who is she? Ham Porter: WHAT? WHAT? Kenny: The sultan of swat! Bertram: The king of crash! Timmy: The colossus of clout! Tommy: The colossus of clout! All: BABE RUTH! Ham Porter: THE GREAT BAMBINO! Smalls: Oh my god! You mean that’s the same guy? All: YES! […]

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Lessons from a Trading Great: Jesse Livermore

“Boy Wonder”, “Boy Plunger” and the “Great Bear of Wall St.” are a few of the monikers Jesse Livermore was known by. Livermore was immortalized in the trading classic Reminiscences of a Stock Operator by Edwin Lefevre — a book your author has read countless times over the years and still pulls new wisdom from with each revisit. Reminiscences has stood the test of time because it, more than any other book, explains the fundamental truths that lie at the heart of successful speculation. It’s no doubt a reflection of Livermore’s deep and intimate understanding of this great game. One […]

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Lessons From a Trading Great: Michael Marcus

Michael Marcus turned $ 30,000 into $ 80 million over a 20 year period — not too shabby. He was profiled in Schwager’s original classic Market Wizards, giving one of the more impressive interviews in a book filled with many. What many don’t know is that Marcus was also part of what has to be the most famous mentor/trader lineage in trading history. The names read like a trader hall of fame inductee list. The lineage began with Amos Hostetter, Founder of Commodity Corp and mentor to Ed Seykota (whom was also profiled in Market Wizards). Seykota then trained Marcus […]

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The Great Physical Gold Supply & Demand Illusion

BullionStar Gold supply and demand data published by all primary consultancy firms is incomplete and misleading. The data falsely presents gold to be more of a commodity than a currency, having caused deep misconceptions with respect to the metal’s trading characteristics and price formation. Numerous consultancy firms around the world, for example Thomson Reuters GFMS, Metals Focus, the World Gold Council and CPM Group, provide physical gold supply and demand statistics, accompanied by an analysis of these statistics in relation to the price of gold. As part of their analysis the firms present supply and demand balances that show how […]

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Grand Ascension or Great Collapse?

It depends upon your perspective and the markets you follow … Perspective: The global economy is drowning in debt – $ 230 Trillion and counting – that will not be repaid at current value. Expect hyperinflation or outright default. Negative Interest Rates on $ 13 Trillion in sovereign debt are a sign of failure by central banks, governments, and Keynesian economists. Pension plans and savers are hurt by low and negative interest rates. They have been sacrificed for the continued levitation in the stock and bond markets. All of the above indicate a correction and possible collapse are coming. Perhaps […]

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The Percentage Of Working Age Men That Do Not Have A Job Is Similar To The Great Depression

Why are so many men in their prime working years unemployed?  The Obama administration would have us believe that unemployment is low in this country, but that is not true at all.  In fact, one author quoted by NPR says that “it’s kind of worse than it was in the depression in 1940″.  Most Americans don’t realize this, but more men from ages 25 to 54 are “inactive” right now than was the case during the last recession.  We have millions upon millions of strong young men just sitting around doing nothing.  They aren’t employed and they aren’t considered to […]

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