tag:blogger.com,1999:blog-1527840491496268397.post8818280130297526889..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Computer PokerUnknownnoreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1527840491496268397.post-77823004370806094222013-09-12T19:55:23.555-07:002013-09-12T19:55:23.555-07:00Q: What did the dealer say to the deck of cards?
...Q: What did the dealer say to the deck of cards? <br /><br />A: "I can't deal with you anymore."CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-41217975295203486412013-09-12T19:25:16.976-07:002013-09-12T19:25:16.976-07:00Poker? I hardly knew her.Poker? I hardly knew her.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-57655873719703658912013-09-07T15:35:34.773-07:002013-09-07T15:35:34.773-07:00Agree with you about "trading" but not a...Agree with you about "trading" but not about "investing".CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-13345099303867220152013-09-05T17:33:12.353-07:002013-09-05T17:33:12.353-07:00I would find it very hard to believe that there ar...I would find it very hard to believe that there aren't any professional institutional traders competing head to head with retail day traders.<br /><br />In any event, I would definitely argue that the *typical* retail day trader has lost before the game is even started.<br /><br /><a href="http://faculty.haas.berkeley.edu/odean/papers/Day%20Traders/Day%20Trade%20040330.pdf" rel="nofollow">Do Individual Day Traders Make Money? Evidence from Taiwan</a><br /><br /><i>Heavy day traders earn gross profits, but their profits are not sufficient to cover transaction costs. <b>Moreover, in the typical six month period, more than eight out of ten day traders lose money</b>. Despite these bleak findings, there is strong evidence of persistent ability for a relatively small group of day traders. Traders with strong past performance continue to earn strong returns. The stocks they buy outperform those they sell by 62 basis points per day. This spread is sufficiently large to cover transaction costs.</i><br /><br />As Warren Buffett once said...<br /><br /><i>As they say in poker, “If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy.”</i>Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-65506804753882130612013-09-05T17:21:21.040-07:002013-09-05T17:21:21.040-07:00No. Institutions can never ever ever go to cash.No. Institutions can never ever ever go to cash.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-35230357275589137442013-09-05T17:20:46.722-07:002013-09-05T17:20:46.722-07:00Day trading is a "longer" time frame?Day trading is a "longer" time frame?Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-22372489613915483622013-09-05T17:07:37.091-07:002013-09-05T17:07:37.091-07:00Going to have to disagree with you slightly.
The...Going to have to disagree with you slightly. <br /><br />The institutions are more competitive on short time frames but not longer. Because of institutional imperative to gather assets.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-31537946296506005282013-09-05T17:00:22.589-07:002013-09-05T17:00:22.589-07:00Assuming that professional institutional traders h...Assuming that professional institutional traders have more sophisticated algorithms than typical retail investors (not a big assumption), then the typical retail day trader has lost before the game is even started. ;)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.com