Sunday, 31 December 2017

How to Stop Worrying and Start Living

I decided to revisit this book as one of my family members are having trouble to stop worrying. As such, here I am with one of the book that shaped my life in the past.

Ended up... this is still one of the best books I had ever read even though my last read was 20 years ago! Those days when I was young, I might not be able to appreciate so much even though I realize it was an amazing book. Now, in my early 40's I think this book will reshape my life once again!!!

The best part about this book is... it is helpful in all aspects of life from career, marriage, family, etc. Dale Carnegie guides us on how to control ourselves and acts in a way of service to others. The various examples given in the book will help readers to understand the concepts and apply it in their life. This book is essential beneficial to everyone, even for those without the problems of controlling emotional qualities.

I have so many good things to say about this book. As such, I have no hesitation to rate this book at 10/10! In fact, I made up my mind to revisit this book every several years. I think this book will benefit each individual personally and professionally. I highly recommend this book!

Last but not least... such a great book... of course tons of nice quotes as below:

Take thoughts for the tomorrow, yes, careful thought and planning and preparation. But, have no anxiety.

You and I are like hourglass. When we start in the morning, there are hundreds of tasks which we feel that we must accomplish that day, but if we do not take them one at a time and let them pass through the day slowly and evenly, as do the ground of sand passing through the narrow neck of the hourglass, then we are bound to break our own physical or mental structure.

Life is a ceaseless change. The only certainty is today. Why mar the beauty of living today by trying to solve the problems of a future that is shrouded in ceaseless change and uncertainty- a future that no one can possibly foretell?

You do not get stomach ulcers from what you eat. You get ulcers from what is eating you. Ulcers frequently flare up or subside according to the hills and valleys of emotional stress.

Plato said that "the greatest mistake physicians make is that they attempt to cure the body without attempting to cure the mind; yet the mind and body are one should be treated separately!"

Dr Alexis Carrel: "Business men who do not know how to fight worry die young."

If you want to avoid worry, do what Sir William Osier did: Live in "day-tight" compartments." Don't stew about the future. Just live each day until bedtime.

Half the worry in the world is caused by people trying to make decisions before they have sufficient knowledge on which to base a decision. Once a decision is carefully reached act! Get busy carrying out your decision - and dismiss all anxiety about the outcome.

It is difficult to worry while you are busy doing something that requires planning and thinking.

Why does such a simple thing as keeping busy help to drive out anxiety? Because of a law- one of the most fundamental laws ever revealed by psychology. And that law is: it is utterly impossible for any human mind, no matter how brilliant, to think of more than one thing at any given time.

General George Crook- probably the greatest Indian fighter in American history says that nearly all the worries and unhappiness of the Indian came from their imagination, not from reality.

Let's examine the record. Let's ask ourselves: "what are the chances, according to the law of average, that this event I am worrying about will ever occur?"

We are going to meet a lot of unpleasant situations that are so. They cannot be otherwise. We have our choice. We can either accept them as inevitable and adjust ourselves to them, or we ca ruin our lives with rebellion and maybe end up with a nervous breakdown.

President of Chrysler: "When I am up against tough situation, if I can do anything about it, I do it. If I can't, I just forget it. I never worry about the future, because I know no man living can possibly figure out what is going to happen in the future. So, why worry about them?"

One of the reasons was their burning desire to impress you and me. Yes, we are the posterity whose opinion they were worried about! Do we give a hoot? No, we are too concerned with our own problems to waste a minute thinking about them.

Whenever we are tempted to throw good money after bad in terms of human living, let's stop and ask these questions:
1. How much does this thing I am worrying about really matter to me?
2. At what point shall I set a stop loss order on this worry and forget it?
3. Exactly how much shall I pay for this whistle? Have I already paid more than it is worth?

There is only one way on God's green footstool that the past can be constructive' and that is by calmly analysing our past mistakes and profiting by them- and forgetting them.

We need to be concerned about our problems, but not worried. Concern means realising what the problems are and calmly taking steps to meet them. Worrying means going around in maddening, futile circles.

You will quickly discover what William James was talking about- that it is physically impossible to remain blue or depressed while you are acting out the symptoms of being radiantly happy!

Happiness is from within; it is not a matter of externals.

When we hate our enemies, we are giving them power over us; power over our sleep, our appetites, our blood pressure, our health and our happiness. Our enemies will dance with joy if only they knew how they were worrying us, lacerating us and getting even with us! Our hate is not hurting them, but our hate is turning our own days and nights into a hellish turmoil.

If selfish people try to take advantage of you, cross them off your list, but don't try to get even. When you try to get even, you hurt yourself more than you hurt the other fellow.

Even if we can't love our enemies, let's at least love ourselves. Let's love ourselves so much that we won't permit our enemies to control our happiness, our health and our looks.

"To be wronged or robbed," said Confucius, "is nothing unless you continue to remember it."

No one can humiliate or disturb you- unless we let him. Sticks and stones may break my bones, but words can never hurt me.

Let's never waste a minute thinking about peoples we don't like.

Let's not expect gratitude. Then, if we get some occasionally, it will come as a delightful surprise. If we don't get it, we won't be disturbed.

The most important thing in life is not to capitalize on your gains. Any fool can do that. The really important thing is to profit from your losses. That requires intelligence, and it makes the difference between a man of sense and a fool.

You can be cured in 14 days if you follow this prescription. Try to think every day how you can please someone.

Why will doing a good deed everyday produce such astounding efforts on the doer? Because trying to please others will cause us to stop thinking of ourselves: the very thing that produces worry and fear and melancholia.

If you want to banish worry and cultivate peace and happiness, here is Rule 7: Forget yourself by becoming interested in others. Do every day a good deed that will put a smile of joy on someone's face.

Man is not made to understand life, but to live it.


If we are tempted to be worried about unjust criticism here is Rule 1: Remember that unjust criticism is often a disguised compliment Remember that no one ever kicks a dead dog.

When you and I are unjustly criticized, let's remember Rule 2: Do the very best you can: and then put your old umbrella and keep the rain of criticism from running down the back of your neck. 

So, to prevent fatigue and worry, the first rule is: Rest often. Rest before you get tired.

Dr Edmund Jacobson of the University of Chicago has gone so far as to say that if you can completely relax the muscles of the eyes, you can forget all your troubles.

You can relax in odd moments, almost anywhere you are. Only don't make an effort to relax. Relaxation is the absence of all tension and effort. Think ease and relaxation.

"I measure my accomplishments," says Daniel W. Josselyn, "not by how tired I am at the end of the day, but how tired I am not." He says: "When I feel particularly tired at the end of the day, or when irritability proves that my nerves are tired, I know beyond questions that it has been an inefficient day both as to quantity and quality."

A person with his desk pilled high with papers on various matters will find his work much easier and more accurate if he clears that desk of all but the immediate problem on hand. I call this good housekeeping and it is the number-one step towards efficiency.

Keep reminding yourself that getting interested in your job will take your mind off your worries, and in the long run, will probably bring promotion and increased pay. Even if it doesn't do that, it will reduce fatigue to a minimum and help you enjoy your hours of leisure. 

Worrying about insomnia will hurt you far more than insomnia. 

No man ever committed suicide by refusing to sleep and no one ever will. Nature would force a man to sleep in spite of all his will power. Nature will let us go without food or water far longer than she will let us go without sleep.

More money is not the answer to most people's financial worries. In fact, I have often seen it happen that an increase in income accomplished nothing but an increase in spending- and an increase in headaches. What cause most people to worry is not that they haven't enough money, but that they don't know how to spend the money they have!

I try to see my troubles in their proper perspective. I say to myself: "Two months from now I shall not be worrying about this bad break, so why worry about it now? Why not assume now the same attitude that I will have two months from now?" 

Monday, 18 December 2017

Stop Orders: A practical guide to using stop orders for traders and investors

This title of this book is very attractive. After all, "stop" is the most important part in trading. Besides, with the font size and total number of pages, I think I can easily finish this book within a couple of days. So, here I am with the most basic stuff in trading.

Ended up, I spend less than two days to finish the whole book. Why? Is it too good or is it too bad? Well, the answer is no for both. This book is an introduction for the "stop". For beginners, it is a very good book to start with. For intermediate or advance players, this book really too simple and does not offer anything. Hence, although I am not the expert; but, being in this industry for more than 15 years, this book does not meet my requirement to have further thoughts on it.

Having said that, I can only rate this book at 0/10. Perhaps this is a book towards someone who intend to use brokers who might guarantee their stop! (guaranteed?) Well, this sums up the whole thing about this book. Not my cup of tea for sure. 

Thursday, 14 December 2017

Super Trader, Expanded Edition: Make Consistent Profits in Good and Bad Markets

This is my 3rd visit on this book. First of all, I never read the expanded edition before. Secondly, I think time is just right to revise some of the great ideas generated from this book. Thirdly, my last two read on this book inspired me a lot. Hence, it is time to see whether there is any improvement in my trading.

This time around, it inspired me again. Not only this book inspired me into further thoughts, it also helps to revisit tons of wisdom that I almost forget these days. The best part about this book is... it applies to any market condition regardless of time and products. End of the day, the author want us to believe that we are trading our belief rather than trading the market... which is very true!

On the expanded part, honestly, nothing much and nothing special. End of the day, it is still back to the theory as presented by the author. Well, it is adequate to become a super trader even without the expanded part, ha...

After so many years, this "old" book remains one of the best trading books in the market. After all there is really nothing new under the sun. As such, I have no hesitation to rate this book at 10/10. If I am not mistaken, my last rating was not that high. But, this time around, I think I appreciate more after went through all the ups and downs. As usual, with a rating of 10, this book certainly has a lot of nice quotes as below. Last but not least, this is a must read book for beginners, amateurs and even experts. I highly recommend this book. Thumbs up!

Entry into the market is one of the least important aspects of good trading. The keys to a moneymaking system are elements such as determining your objectives and the way you exit your positions.

Many traders have what I call the perfectionism complexity complex. In other words, what you have is never quite enough. There is always another exit or another entry that will make it better. What this means is that you always will be struggling with new ideas. Consequently, you never will get to the real issue of trading and just being a trader, doing trading.

To a committed person, the most important thing  is the destination. When you are committed to becoming a good trader, you do whatever it takes and little things don't throw you off track. When distractions arise, you go around them and focus on your goal. That's the power of commitment and commitment is essential to trading success. 

It's fairly difficult dealing with the markets if you are not willing to lose. It's like walking but wanting to use only your left foot, avoiding your right foot.

Instead of giving up on the market after a string of losses just in time to miss the really big move, they avoid their system until it is doing really well. When it is showing tremendous profits, they jump on board, only to be blown away by the market.

Everything you think about and everything you worry about are in the past. When u release them and concentrate on the now, you'll find that everything is beautiful. It's only our thoughts, based on our interpretations of what happened in the past, that cause upset and struggle. 

Occasionally, I might have a thought about the problem, but then I realize, "You just gave this to god. Are u now taking it back?" The answer is usually no, and I automatically drop it.

Instead of looking for issues, I spent the same amount of time writing down the blessings in my life and give thanks for those blessings. Quite often the blessings are the same ones, but that's ok. It is a wonderful vitamin.

If you find yourself worrying about anything, write it down on a piece of paper and give it to God. Put it in your own God box but remember that you have to be totally willing to turn it over to God and release it. If you don't give it willingly, you'll find that God is quite willing to let you keep it.

If my body reflects feelings of tension, anger and irritation, I am acting out of fear. If my body reflects feeling of relaxation, well-being or harmony, I am acting out of love. I am trying to increase my attention to this before the decision is implemented.

You cannot trade the market. You can only trade your beliefs about the market. 

When under stress, you revert to primitive behavior, but with more energy. This is fine if you must run away from a predator, but it is disastrous if you have to think quickly about a market situation. The trick to dealing with such a situation is to rehearse it in your mind before it happens. When you've done that, your unconscious mind will know exactly what to do and stress won't be a factor. 

Remember that employee traders work for systems; they don't necessarily understand the systems. I believe this is the key to why they are not necessarily good traders. 

Stockbrokers are really employees (to the extend that they receive a salary) who are paid to sell stocks. They are self-employed to the extend that they depend on commissions. When employee traders approach trading, they usually bring the employee mentality into play. They want to be told what stocks to buy or what the market is going to do. They are used to being told what to do, and they abhor making mistakes. That's the employee mentality, and it doesn't fit into good trading.

They treat their trading business as a group of systems. They make those systems as automatic as possible and then train other people to run them. You cannot be a perfectionist and develop automatic systems. However, you can develop such systems and free yourself.

Traders become investors when they invest in systems that give them a good return on their capital without requiring additional work.

 Remember that your real goal in designing a trading system is to develop one that works well in one or two market types. The mistake most people make is to try to fit one system to multiple market types.

Key ways to grow your business:
1. Develop new, improved trading systems- Some of your systems may stop working in certain market conditions, and so it's always good to have more systems in pipeline.
2. Find more markets in which to apply each system.
3. Add Traders.
4. Make your traders more effective at what they are doing - measure the effectiveness by the number of mistakes that trader makes.
5. Optimize your position sizing.

Thursday, 30 November 2017

袁腾飞讲先秦:战国纵横

上一本太棒了。所以,迫不及待的想追看下一本。那这一本又如何呢?

袁老师的书籍怎样都不会让读者失望的。。。但是,这一本我还真的读得有心无力。如果不是袁老师,我老早就把它搁一边了。理由是。。。先秦的这段历史我真的太熟悉了。这本书里,袁老师秉持一贯的诙谐幽默又风趣的讲古作风。但是对于读了又读的历史,有时还真的很难投入。

整体来说,这本书不像上一本那么扣人心弦。但是,诚如以上所说,问题不在作者。主要是我对于这段历史几乎可以倒着来背了。因此,满分10分,基于个人理由,只能给个5分。再次声明,不是这本书不好。低评价主要事个人理由。。。

Friday, 10 November 2017

袁腾飞讲先秦·上古春秋

好久没看袁老师的书籍。其实,这一套书我买了很久。但是,一直不敢开始阅读。理由是,袁老师的书籍很像易老师的书籍,总会让读者爱不释手。之前太忙碌了,根本没勇气拿起这本书。恰好,最近有钱有闲,终于可以做一些自己想要做的事情了,呵呵。。。

结果是。。。这本书只花了我几天的时间。第一,上古春秋的历史我是耳熟能详了。第二,如预期般,袁老师的表现太牛了。一打开第一页,整个人马上就废寝忘食了。袁老师太厉害了!!!

袁老师的历史讲述有别于易中天老师的那一套。两人唯一的共同点就是诙谐幽默。易老师注重于分析来龙去脉。袁老师则注重讲故事。主要的吸引力在于读者很难不跟着他的节奏跑。枯燥的历史在袁老师的描述下变成了一段又一段精彩绝伦的生动故事。简单来说,袁老师就是顶级的“讲古佬”!

10分满分,不得不给个满分。诚如以上所说,上古春秋我是背得滚过烂熟。 但是,在那么熟悉的情况下,我竟然还能很专注的把整这本书啃完。袁老师的功力真的不是盖的。赞,赞,赞!!!太棒了!!!

Tuesday, 31 October 2017

周星驰:做人如果没有梦想,跟咸鱼有什么分别

近年来,对艺人自传都不太感兴趣。理由是,很多自传都很容易对号入座。作者往往随意扭曲事实,然后乱七八糟的胡乱评论。最糟的是,很多这类书籍都是东凑西凑般,把一些道听途说或报章杂志上的文章合拼,然后就造就了一本所谓的自传。但是,这一本的主人翁太吸引我了。从小就看着星爷的戏长大。对星爷的确有一份说不出的怀念。。。

结果是。。。老样子。很多书里提到的都是略有所闻的事迹。整本书没什么新鲜事。作者和星爷的互动几乎是零。读到一半时,已经很想放弃。但,还是勉为其难的把整本书啃完。最后,得到一些对于偶像的怀念,但想要的惊喜(尤其是更多关于偶像的内心世界)真的少之又少。最糟糕的是,作者免不了还是会对号入座的细说星爷的事迹。然后,又很勉强的加入了自己的感想。事实是如何,只有星爷能够告诉我们答案。。。

唯一的优点是。。。作者把整本书排序的井井有条。整本书的次序非常棒。完全不会又凌乱的感觉。可惜,这也只是这本书仅有的优点。。。

弹了那么多,评分方面肯定不高。十分满分,只能给予两分。这本书的主人翁如果不是星爷,我相信评价会更低。有时,名人效应还是存在的,呵呵!

Friday, 20 October 2017

Barometer of Fear: An Insider’s Account of Rogue Trading and the Greatest Banking Scandal in History

"One of the world's most infamous rogue traders"... This is how Sky News describes this book. But... I honestly think it is oversold. Well, it is a nice story that exposed the darker side on a trading floor. However, for those in the similar industry, there is really nothing new under the sun.

Having said that... I would not claim that this is a bad book. After all, the readers of this book may not belong to the same industries as mine. As such, it could be an interesting book to them.

The author did his best to expose all the darker side on his personal journey.  In this book, we have the author's biography on his trading life. At the same time, the author tried to point out the roots of the manipulation scandal. In short, we have the best summary on the on the shameless collisions to manipulate the financial market.

For a full rating of 10, I am going to rate it at 6. Overall, this is a good read as the author covered the details of the whole scandals from the perspective of a trader. Unfortunately, this book may not be so attractive to those who know the dark side rules inside the financial world. I would recommend this book for those who want to venture into derivatives and forex stuff. It is a must read before you step into the cruel part of the game... 

Saturday, 30 September 2017

The Mental Edge in Trading : Adapt Your Personality Traits and Control Your Emotions to Make Smarter Investments

Larry Williams... a well-known name in the world of trading. This book is written by his son, Jason Williams. Even the father, Larry Williams was shocked by the research done on this book. So, how can I miss it?

At the end... what a well-written book. This book focuses on the human personality and the natural born traits that take every trader to another level. The author tried to find out certain trait that helps to make a successful trader. At the same time, there are certain characters which serve as the major obstacles for traders around the world. In this book, we have insights and deep studies into each character that helps us to become a better trader.

In addition, the author included real life examples by providing tons of studies cases via the dialogue with some well-known traders. I love this part a lot. It tells us how each character trait plays its role. I personally benefited a lot from reading this book. At the end, I found where my strengths and weaknesses are and it helps to improve my mentality as a trader.

On the cons... Unfortunately, the author did not provide further info on how to work on with the traits that we already have. According to him, traits cannot be changed. Hence, we have no choice but to live with it. However, I personally saw the changing of my personality throughout my trading years. In the initial state, perhaps it is so hard to change. However, the cruel side of trading will changed our personalities along the way. I wish the author could elaborate more on this book. Unfortunately, what we have is merely a book with details studies on the subject without much solution.

Rating wise, I am going to rate this book at 6/10. As I mentioned above, this book could be better if the author are more proactive in providing solutions. Overall, it is still a good book to read on. At least, we understand ourselves more and we understand how great traders perform with their naturally born characters.

Some nice quotes from the book:

Every move you make while you trade is surely being watched by the harshest and most critical judge of all: yourself. In trading, generally you are the only one who is putting the immense pressure on yourself to succeed. As the saying goes, you turn into your own worst enemy.

The only way to overcome the anxiety associated with performance is to keep performing the act or behaviour over and over until, it is no longer anxiety-provoking.

The psychological term is "habituation." It means that the more you expose yourself to an anxiety (instead of trying to avoid it), the sooner your body will learn to deal with the anxiety, and the sooner the anxiety will dissipate. 

It can be very uncomfortable process to force yourself to remain in an anxiety-provoking situation when your mind is telling you to get out of it. But it is the only way to overcome this problem.

Many traders have difficulty admitting to their spouses or others if they are in bad trade They may either deny it or minimize it. Not just because of the financial setback, but because it may reflect poorly on them as a person.

The best traders have low anxiety levels; this is true. But you need to understand your own strengths and weaknesses and then adapt to them. 

Avoid trading systems that are very active in terms of frequency of trades, because you will need time to reset your emotions, and if your trading style is too active, this will not happen.

You feel you are a loser? Use the four S- Stop sign, Shout it out, Substitute, Sustain.

Amateur traders tend to use trading as a distraction from their day jobs, with the hope of changing their current life condition into something more desirable. 

"I have no expectation about the results of a trade." In fact, this was a consistent theme we heard over and over while interviewing top market traders. They also frequently make reference to "not doing it for money."

Making a living from the markets is the business objective, and ultimately, if I couldn't earn a living from the markets, I will certainly do something else. But the design process is what I am most passionate about in this work.

As long as I keep my trading style as boring as watching a vegetable garden grow, my anxiety and my anger and my impulsivity are kept under wraps. To me it means having my timing and selection work in a very systematic module.

Wednesday, 13 September 2017

Confessions of a Wall Street Insider: A Cautionary Tale of Rats, Feds, and Banksters

The title of this book is so serious. In fact, after finished the whole book, it was a real serious issue to ponder about...

First of all, traders around the world realized that rules and regulation are ready to serve any traders when things gone wrong. However, the facts that many "good" traders ended up facing charges are happen now and then. So, what is the real justice especially when we see that money games are all over the world with better and easier route to escape...hmm...

Secondly... as a trader, the more you read on this book, the worst fears as a trader will haunt you throughout your career. One mistake not only damages your career. You could lose your freedom, family and your entire life too. Sounds scary, but true...

I am very much sympathized with the author of this book. The justice system did not provide adequate justice to him. To make things worse, the family support particularly from wife changed overnight eventually. End of the day, a simple justice system damaged a life of an ordinary human beings. Sigh...

For a full rating of 10, I am going to rate this book at 8/10. This is a book with full of excitement, emotional and tons of humor too. I appreciate the author for sharing his stories. The only flaw perhaps lies with the fact that the justice system and execution may differ in our country. As such, certain aspects may not be applied here. However, I highly recommend this book to all traders. It is a story that needs to be heard... 

Monday, 28 August 2017

The Future of Finance: How Private Equity and Venture Capital Will Shape the Global Economy

This book attracted me when I notice the author ran the Asian Venture Capital Journal for fifteen years in Hongkong. With such a background, the author should be able to provide us in-depth coverage with the help from dozens of industry experts.

At the end... yes, the author did it. Since he had access to all of the top players in financial world, we have a lot of case studies and details discussion throughout the whole book. The author is very brave in this case. First of all, he needs to dig deep into the entire information gathered before expose it out to the public. Secondly, the author gathered the said info and provides his own forecast and prediction towards the future. Since this book was written many years ago (the subprime era), certain things may not be applicable to the current environment. However, it is certainly not out-dated. That tells the whole story.

Rating wise, I am going to rate this book at 7/10. This is actually an excellent book to read when it was published. But, since we are half way towards the end of 2017, the forecasting by the author may sounds not so interesting. After all, we more or less found the answer in the real world. Having said that, I have no hesitation to recommend this book. This is a well written book with deep insight on the world of finance. 

Monday, 7 August 2017

让你挣大钱:操盘手自述

据说,这本书的作者是网上一名蛮出名的外汇分析师。因此,我对这本书还颇有期待的。

和上一本“菲波纳奇”相比,这一本书还真的有过之而无不及(哈哈!)。。。怎么说呢?这本书至少没那么沉闷。作者写的也头头是道。但是,启发性和上一本相比,简直就是双胞胎的版本,呵呵。。。

书里的方法理论上是行得通。但是,这一类法则在很多书里都呈现过。虽然,作者很用心和不吝啬的分享了他的操盘历程,但是,惊喜点还真的很欠缺。。。

十分满分,这一回给个两分。至少,我觉得这一本好过上一本。但是,整体来说,期望越大,还真的失望越大。。。

Monday, 31 July 2017

菲波纳奇高级交易法

菲波纳奇(有些称为蜚波纳奇)理论是我多年来一直探讨的课题。因此,这类书籍我读了好多本。但是,从来就没有一本书籍能够真正挖掘菲波纳奇的奥妙之处。或许,这个理论本身就是圣杯的替身。因此,不会有人能够真正掌握它的奥妙之处。

这一本当然也不例外。老实说,和其他菲波纳奇的书籍相比,这一本书不算太差。但是,里头确实就没什么惊喜。本人用尽了所有精力很努力的把这本书啃完。结果是,读完后完全没什么印象。(更别说有任何启发性的知识!)

10分满分,没办法不给予这本书1分。个人很认可作者的用心。但是,这类书籍就是没有什么突破性。来来去去都是一些你我都懂的运用方法。如我以上所说,或许菲波纳奇本身就是这一切的问题根源。因为,这个理论实在是太高深莫测了。。。

Tuesday, 25 July 2017

Kroll on Futures Trading Strategy

An old book...and old book on my shelf long time ago... As I am passing certain milestones in my speculating career, I think time is just right to revisit some of those books that I love or I hate those days. I am eager to know whether I still love or hate these books after several years. Well, to be precise, I want to know whether I improve or simply stagnant after these years...

First of all, this book was one of my favorite those days. In fact, I rated it as high as the other two of my favorite, namely "Reminiscences of Stock Operator" and the recent "Trading Psychology 2.0: From Best Practices to Best Processes". Surprisingly, this book is still one of my favorite even though fancy stuff such as internet, algo, etc coming out for the past few years. So, do i regret spending my time on a real old book? Definitely not!!!

In trading, believe it or not, there is actually nothing new under the sun. This book is a good example to prove that "the more things change, the more they remain the same". After so many years, the contents still applicable and every advice are still relevant. Those days, I enjoy reading this book. Now, I appreciate more especially certain excellent advice seems to fade away each day. This book serves as a good refresher and good reminder on things that I almost forgot. I sincerely thank the author for sharing such an excellent write-up to traders like me.

I tried to extract quotes from this book. At the end, I found that everything were so good that I had problems on making a summary of quotes out of this book. This book certainly would not make a trader rich overnight. However, it helps to at least loss less on the journey of speculating. Having said that, I have no hesitation to rate this book at 10/10. This book deserved my attention and I will definitely reread again in the future. 

Friday, 30 June 2017

The 80/20 Principle: The Secret to Achieving More with Less

I read a lot about 80/20 principle. However, I never read a proper book about this. In view that I am short of books to read, I decided to go for this to have a proper and complete read up on the said principle.

As usual, management stuff is never my cups of tea. I never enjoy management as I hate to deal with peoples in the first place, LOL. So, this book is no exception. Although the 80/20 principles seems happening everywhere at every moment of our life... but, I really find it hard to study in details on this. My bad... I think I still prefer historical stuff and numerical games, haha...

On top of that... this book itself is full of repetitions. At the end of my reading journey, the only two things that triggered my further thoughts were the 80/20 analysis (backward thinking) and the 80/20 thinking (forward thinking). Other than that, I cannot remember much. This book is too dry to me especially with the graphs and charts throughout the whole book.

Rating wise, since this book is not my cup of tea, I am going to rate it at 3/10. To me, this is just some casually read. However, I will keep it on my shelf and may need a reread when certain situation occurs in the future. 

Thursday, 22 June 2017

Pit Bull: Lessons from Wall Street's Champion Day Trader

I read this book twice (somewhere between 10-15 years ago~ wow, long time ago!). This time around, as I rearranged my book shelf, I suddenly found this book. The urge to re-read this book was there. So, here I am with a long time but well-kept book.

Well, last two read was not so nice as I felt the market environment seems not really suitable with the idea presented in this book. This time around, I found that I enjoy reading this book despite the fact that I learnt less. It sounds ridiculous but true... I am on the 17th year of my speculating career. I went through lots of similar scenario in this book which including all the sweet moments and hard times. As such, although I found I learnt less in this book, but I certainly enjoy it. After all, it was part of my stories too. Of course, the only exception is that I am not yet the "Champion Trader" and I am still far being the "Champion Trader", haha...

Overall, this is a real "entertaining" book. But, instead of labeling it as "lessons" from the great trader, I would classify this book as one of the biography type of books. The author focuses on his whole stories from day one and never reveals any specific "lessons". The ending chapter was all about the scarification of health behind the author's successful trading. As mentioned by wikipedia, the author continues his success in horse racing these days. In another words, the author seems to finally distance himself partially from trading which was his target as mentioned towards the end of the book. This in fact turned out to be the best "lesson" in this book. Trading itself is additive. But to trade to an extend that you lost your whole life does not justify the successful part of trading. As a human being, we still need to have life.

For a rating of 10, I might give 10/10 if this book is quoted as "biography". But, since the title itself is kind of misleading, i am rating this book at 7/10. At least the final "lesson" justifies the rating that I gave. (Haha) All in all, this book is one of my favorite books, not for its trading method, but for its entertainment value. 

Thursday, 8 June 2017

华尔街第一个华人大亨

这本书挺过瘾。怎么说呢?从书名来看,它本该是一本非常励志的华人奋斗史。结果,原来是一本负面教育。再来,这本书应该是一本自传,但是我读到的不只是一本自传,还包括很多金融历史。第三,这本书刚开始挺闷的。作者长篇大论的探讨美国金融历史。但,原来其长篇大论是为了铺陈后面主角的事迹。过瘾,哈哈。。。

故事主人翁基本上是一个超级投机家。因此,个人认为书名的“大亨”并不是很贴切。或许,把菜至勇称为“华尔街第一个华人枭雄”会更适合一些,哈哈。故事主人翁整个人生就是伴随着美国各大牛市熊市而活。更凑巧的是,故事主人翁的起落几乎和美国股市是一致的。中华民族始终没能像西方大亨般把企业做大做久。更多的时候,短浅的目光吞食了原有的使命。荣华富贵,菜至勇是赚到了。但是,流芳百世方面,菜至勇是彻底失败了。

竟然是这样,这本书值多少分呢?满分10分,我给予9分。其实,这本书真的挺好看的。书中主人翁的确称得上华尔街的一个传奇人物(现任美国总统还曾是他的超级粉丝)。有一点我是很赞赏的。作者很用心的运用大量历史背景来衬托故事主人翁的反面教材。虽然过程烦闷了点,但是读者可以更明确了解整个事迹的来龙去脉。重点是,作者还加入了许多自身的观点。看完了整本书,对于从事金融业的哥儿们,这本书肯定有共鸣。赞!

Thursday, 25 May 2017

投资之道:全球杰出华人投资者访谈录

好久没看中文书了。这回,选了这本访谈录。一直以来,可能是受到 Jack D. Schwager 几本名著的影响,我对金融访谈录非常的感兴趣。而且,内地几本访谈录也挺精彩的。比方说,之前读过的【期货英雄】系列虽比不上西方的访谈录,但里头的点点滴滴多少启到警惕,教育和慎思的作用。

这本访谈录基本上是不错的。但是,里头有两个小缺点。第一,作者不是很熟练于金融的领域。很多时候,访谈的过程有点烦杂。作者很努力的把访谈的重点规划。但是,在于读者的角度,有时真的很难投入。而且,访谈的部分内容也挺沉闷的。。。第二,作者本身不太客观。总觉得作者偏向于基本面分析而忽略了市面上其他林林总总的法则。

除了以上两点,这本书整体上还是很到位的。10分满分,个人给予7分。这7分从以下的精彩语录就能看出作者的用心和受访者的诚意。我花了不少时间阅读这本书。结论是,无论读者是不是倾向于基本面分析,这本书至少能让读者慎思和探讨杰出华人投资者的一些秘密精髓。

谢清海

像巴菲特和其他大师,大部人都在比我们市场更为有效的市场中工作。因此,他们生活的比我们更难。我所在的市场是年轻,无效的市场,伴随着经济的高速成长。因此,我们处在一个“宽恕的市场”。宽恕的市场意味著你可以犯很多错误,而你还是能够生存下来。

如果你有优势,你必须乘胜追击,置对手于死地。在惠理,一旦机会来了,我会轰炸,我会长驱直入。所以,我的老师是历史,我觉得没有什么新鲜事在发生,所有发生了的或者将要发生的,已经在过去发生了。

李山泉

我上班时间好像很松弛的,可是压力很大。这个行业的苦处就是这样。好像是有假期,实际上是没有假期。

黄庆和

采用别人的方法往往不是一个好的方式。你要做的是吸收他们的理论,估值,核心价值这一块。

黎彦修

一个人一辈子能做成功的事只有少数几件。想成功就必须把自己擅长的那几件事做好。

做投资有奋斗目标固然好,没有也不见得是坏事。很多时候,投资者取得成功是因为心态很坦然,而不是故意追求什么。巴菲特说他之所以取得成功,是因为在30多岁时突然没有了生活压力。中国人将的“无欲则刚”大概就是这个道理。这样做能消除必须把某件事做成功的紧迫感。有了坦然的心态,才能随市场节奏而动。

投资与开一家工厂不同。工厂可以根据目标进行生产,投资却不行。投资收益和投资者本身的工作量没有正相关关系。

你要坐着等机会来。怎么等呢?就是事先把这些东西研究好。

如果投资者赚得太多,最终他就会自己打败自己。

杨光

我局的做投资的人第一肯定要非常乐观。你总要认为将来比现在更好,才会去做投资,否则你肯定不会投。乐观的人肯定会有一些其他特征,比如有很多兴趣,喜欢体育活动等等。第二,我觉得投资人要有观点和想法。你要把观点说出来,可能是错误的,可能是不成熟的,甚至是幼稚的,但有可能引出别人的一些思考,那就有价值。第三要有勇气。往往最成功的一些投资,可能是最看不懂的时候,别人都不看好的东西你看好。约翰爵士灌输过,投资实际上是很艰辛的一个过程,你就像一个孤独的行者,这个过程实际很艰辛,因为你一直问自己,是不是自己错了。

张涵

2001年到2005年的崩盘,更表明庄股是不可靠的。控制70%,80% 股票的人,最后还是死掉了。说明没有企业基本面的配合,坐庄是不行的。

真正能够做到的都是少数人。第一,他们有理想,第二在理性的感召下,他们会寻找一种生活方式。这个生活方式跟他的性格,天性,理想是完美结合的。你选择让你最舒服的那个生活方式,就是说你一定要把你的人跟你的生活方式,你的行当,你的理想,所有的这些东西都结合起来才行。

江平

所谓的经济学大牌,管理资金往往不成功。在读书时,我有很好的化学理论基础,但在做实验时,发现拧一个螺丝钉都很难,做出来的东西和完美的理论模型相差甚远。这表明理论和实践并不容易契合。

交易如同打仗,极少有人能未出茅庐而知三分天下,一举封将拜相。依次晋阶的过程应该是顺其自然的。但途中经历多少坎坷,只有身在其中才能细加体会。

短线交易实际是贴身防守,短线赚大钱是比较难的。我们从来不把短线当成看家。短线是我们基本的生存技巧。

我们觉得有机会的,别人多半也试过了。我们必须打持久战,诱敌深入后再打剿灭战。

我们不过于计较每日输赢。碰到不利状况时,我们就退。打仗如果连败会被人讥笑无能。但胜机往往也在其中。

市场如战场,知己知彼很重要。大部分人只关注知彼。然而知彼很难,敌方也会放假消息。反省自己,做到知己更重要。

王国斌

股市里面很有意思的一件事就是,正确的决策不一定带来正确的结果。而错误的决策也不一定带来错误的结果。这就会造成一个假象。只要一个好的结果,你就会不自觉的认为你的决策是对的,就会很得意,很自负,会强化这个可能是坏的决策方式。所以,在决策过程中一定要认真的去分析。不能因为结果是对的,就认为决策是对的。

投资必须要有量的考虑,避免直觉带来的偏见。

巴菲特为什么要挑傻瓜都能经营的公司?因为他脑子里牢牢有这种概率的思想。未来是不确定的。没有谁能预测明天会发生什么事。傻子都能经营的公司,成功的概率很大。

查理芒格讲过,所谓投资这种艺术,就是比别人更好的对未来错处预测。最好的方法就是把你的种种尝试都限制在自己能力许可的领域中。如果你花尽力气想要预测未来每件事,那你尝试去做的未免太多,你将会因为缺乏限制度而走向失败- 世界上存在无数的可能。

投资是一个概率游戏,明智的人不应该把钱压在小概率的时间上。正因为这是个概率游戏,任何对未来的预测都是困难的,都可能犯错,所以错误是我们工作的一部分。我们不能输了一副牌,其他牌就不打了。

这个行业有两个毛病。第一,每天过得太快。第二,真正让你舒心的日子不会太多,因为从投资的角度来说,每个成功的投资都会伴随着折磨的过程。

很多人希望每一圈都领先,但最重要的是,冲过终点时,你还在跑道上。

有人说最好的学习方法是当老师,最好的投资思想是在交流中产生。

胡斌

像一笔大资金,管理这种大数量的钱很难靠阿尔法。这种数量的钱,能赚的是风险溢价,就是说在别人不敢去承担风险的时候,你可以大批量进去。

居雄伟

量化投资其实不像用人脑投资的人(巴菲特)会到处推广和宣传一套风格。做量化的最怕别人知道你的赚钱风格。

量化之间的竞争比非量化更激烈。但是量化投资的风险相对比较容易控制。非量化的投资圈就像过山车,里面总有人被甩出去,所以车里较空。而量化投资圈就像一个平稳的地铁,大家都挤在里面,也不容易被甩出来,所以每个人的空间都不大。

再好的模型也有它的寿命。这个时候,重要的是根据自己的经验对将来做一个判断;什么样的模型会有效,什么样的模型会失败。这个就很少人能做到了。

很多对冲基金在几千万规模时业绩很好,然后拼命融资,一下子变成几十亿美元的规模,业绩随即就下滑。这是因为他们没有研究其策略的容限大小,没有考虑在资金扩大后回报是否会降低。

在这行如何才能获得成功,这不太容易总结。正因为不容易总结,才说明这行要成功不容易,也因为如此,做这行还有饭吃。如果可以清晰的定义和找到这行所需要的人才,那我认为就会有很多成功的人。

Friday, 28 April 2017

Alias Chin Peng - My Side of History

I bought this book long time ago. In fact, this book was published long time ago too. Imagine, the version I bought is the fifth reprint version. Hence, this book was actually on my shelf collecting dust for so long. LOL.

The reason that it took so long for me to open this book was due to the fact that this is a real thick book. To be honest, it needs courage to go through a book with more than 500 pages. Furthermore, this is a story that we as Malaysian had more or less heard about it. The worst part is... we had been forced to memorize it for our examinations in secondary school, LOL. So, I choose to open it now as I think I am in the best condition and best stamina to finish this "marathon read". Please do not get me wrong. I love history. All history books are like real gems to me. However, I am reluctant to read something that I think I am quite familiar with...

Ended up... this book surprised me a lot. I assumed I know a lot of CPM histories. Yet, this book opened up and widened my knowledge on local histories. I was grateful that I took the courage to start it in the first place. Overall, this is a highly readable book. The best part is... the late Chin Peng tells the whole story from his side's perspective. As such, we have a much needed balance analyse compare to our standard history text book.

This book is full of deception, betrayal, terror and intrigue facts. The betrayal part by Lai Te, who was a "triple agent" was an amazing stories to follow though. Then, we have important insights on all guerrilla war in general and the struggle for national liberation in the colonial world. Of course, there are a lot of controversial parts. Chin Peng actually awarded the OBE by the same enemy that eventually haunted him for the most part of his life. Then, the Baling talk... it was supposed to ended in a peaceful way. But, the first Chief Minister of Singapore seems to be the major stumbling block behind the scene. Lastly, we had "Emergency" facts, which was rather different from our standard history books. Again, I want to emphasize that readers need some balance facts especially from the other side. This book obviously achieved that!

After spending whole month reading this book, I have no hesitation to rate this book at 9/10. The one point deducted was due to the error by publisher. The book was wrongly printed at the last chapter. In fact, it was not only wrongly printed in sequence. Few pages were missing for no reason. This is the fifth reprint version. By right, it should not have this sort of mistake!

As a conclusion, I rated this book highly and I am glad that I spent the whole month reading this book. This book not only opens up my mind. In fact, I found a lot of lessons especially on the correct means of struggle against the capitalism in my beloved country. At the end, I salute the late Chin Peng. Despite his bitter pill of ultimate defeat, this is a strong man that heroically fought against British and keeps his faith with perseverance. Rest in peace to the late Chin Peng... 

Friday, 31 March 2017

Leading

I hate Manchester United... but, I admire Sir Alex from the bottom of my heart. As an Arsenal fan, I have to admit that Sir Alex's record was so incredible that football fans around the world will find this book a real gem.

Compares to "Alex Ferguson - My Autobiography" and the earlier "Football- Bloody Hell", this book is seen as something completely different. In this book, Sir Alex talked about his role, importance and essence of leadership that brought a curtain down to his amazing career. The previous biography focuses on football and produced while he was still actively involved with the Red Devils. This book gave insight on how he managed to succeed in life. The added point appeared when the book itself featured a lot of football related content. So, as a maniac football fan, this book certainly brings a lot of pleasure in reading it.

Although it was intended to present in more "management" style, this book clearly revealing some of the interesting point about the great man. Readers will read about Sir Alex's crazy obsession with football. We are presented with a man who is willing to sacrifices family and personal life for the sake of glory in football. Furthermore, the man himself revealed a lot of his human being's general weaknesses and errors. The two significant one was his churning feeling in his stomach before the game and how he makes decisions with imperfect information. After all, he is the human being like me and you. However, he just has the determination and hard work to solve the puzzle.

The only flaw in this biography perhaps lies with the facts that it was mean to combine football with the management skill in general and leadership in particular. At times, I finding it hard to concentrate as my mind was mingled between football stuff versus management skill. Well, the creativity in combining management skill into the great man's mind was the selling point of this book. Yet, the confusion arose due to the same attractive point too. Fair enough? Ha...

In my last review on "Sir Alex- My Autobiography", I mentioned that the said book could be a complete journey reviewing for the great man. Out of surprise, this book provides more insightful information on how his great experiences can transform into any part of our life. Hence, despite a small flaw as mentioned above, I have no hesitation to rate this book at 10/10. With such a great book, I have to spend more time to list out some great quotes from the great man as below. These quotes will certainly help me and you towards a better future.

We're all accidental victims of our parents' DNA; we are shaped by the luck of the draw, the circumstances in which we grew up and the education we received. But we all have two sets of very powerful tools that we completely control; our eyes and our ears. Watching others, listening to their advice and reading about people are three of the best things I ever did.

Very often our victories were squeaked out in the last few minutes, after we had drained the life from our opponents. Games like life - are all about waiting for the chances and then pouncing on them.

It would not surprise me if some observers feel that much of United's success was due to our willingness to take unnecessary chances. I never thought like this because part of a leader's job is to eliminate as many risks as possible. Some might think that my fondness for horses or cards means that I am a gambler at heart, but that isn't really true. In my private life, I have always been very careful about the amount of money I am prepared to spend on a horse or bet at race-track, and the same caution applied at old trafford. We tried to leave nothing to chance. I cannot tell you how many half-time talks centered on the need to be patient and wait for the right opportunity to occur, rather than be dare devils. 

Our critics would say this was lucky, or down to the pressure to extend the game into "Fergie Time", but in truth it came down to careful preparation and having a deliberate and thoughtful approach to risk.

It makes it far tougher to sell the dream of the future if you cannot point to the staff and facilities that will make it come true.

You don't have to love your players or your management team, but you do need to respect their abilities.

Some managers try to be popular with the players and become one of the boys. It never work. As a leader, you don't need to be loved, though it is useful, on occasion, to be feared. But, most of all, you need to be respected. 

Jock was right that you cannot get too attached to people who work for you. The only time you must have that attachment is when they are in trouble- when they need your advice.

Complacency can often start seeping into an organisation that has had a string of triumphs. 

The questions going through the back of my mind during any celebration were, "How do we top this? How do we get another triumph?" I never wanted us to be torpedoed by complacency.

I gradually learned that there was no point beating about the bush by taking somebody out for dinner or sending his wife a box of chocolates or flowers to try and soften the news. The gimmicks don't change the message. If you have decided you are going to get rid of someone, nothing beats honesty.

I found that helpful ideas would sometimes pop into my mind from out of nowhere while I was playing cards or reading a book or going through a wine catalog. I am sure the same sensation occurs to other leaders when they are riding their bikes, pruning their roses or climbing a mountain.

If we had 3pm kick off, I would give team talk between 1:15pm and 1:45pm. Once I had delivered my piece I would leave the players alone. We had prepared as best we could and last minute instructions always leave players wondering whether they command the manager's confidence.

Maybe some people, before a big performance or important encounter, try to calm their nerves with breathing exercises or a draw of whisky, but I never did so. I just accepted that nagging anxiety as part of my job. It accompanied me through life and it would have been a big warning sign that I was no longer up for the task that had anxiety - which really was a sign of how badly I wanted to win-ever disappeared. 

If you have command and control of your subject, you don't need notes. No player is going to believe that someone is in control of his materials, or is an authority on a subject, if he has to keep resorting to notes. I relied on my memory and my own assessment and, that way, when I was talking to the players, I was able to maintain eye contact. 

As much as it's essential to maintain eye contact when talking to a small group of people, I always found it disconcerting to catch someone's eye when speaking in front of a big room. I tended to look towards the audience because I knew that staring at notes on a lectern is one sure way to lose a crowd's attention. However, I never looked at any particular individual. Instead I's pick a spot at the back of the room slightly above the heads of the audience. 

Everyone is disposable. Someone once said, 'Graveyards are full of indispensable men,' and it's a phrase worth dwelling on. 

When you are in the football world, and I suspect in almost every other setting, you have to make decisions with the information at your disposal, rather that what you wish you might have. I never had a problem reaching a decision based on imperfect information. That's just the way the world works.

There are probably only two times to do so - too early or too late. If I was going to err on making one of those mistakes, I far preferred to make the decision earlier rather later.

Any leader is a salesman- and he has to sell to the inside of his organisation and to the outside. Anyone who aspires to be a great leader needs to excel at selling his ideas and aspirations to others.

There's never been as much money in Scottish football as in English; early on in my career I got used to making the most from a little. I happen to think that's a useful discipline for any business or organisation, because it's so easy to waste money.

The inequity seems even more pronounced when you consider that, compared to other people, a footballer's peak earning years are very abbreviated - usually about six years and almost always fewer than ten. Don't tell me that some 28 year old who can manipulate a spreadsheet (of which there are hundreds of thousands, maybe millions) deserves to be paid more than a midfielder playing for Swansea City or Southampton.

I suspect most football managers get paid less- sometimes far less- than their start players. What message does it send to a team, if most of them are being paid more than their boss?

It wasn't the end of the world if we failed in a particular negotiation and that our success was not going to hinge on the arrival of one player. If you need one person to change your destiny, then you have not built a very solid organisation. 

I'm sometimes amazed by how people get fixated on information. It's like standing in a hospital room staring at the numbers on the bedside monitors while the patient chokes to death on a chicken sandwich. You have to consider the human element of life and the way that circumstances and chance can upset everything - even the most accurate and clearly reported data. Knowing the heart rate of a player and doing all the video analysis in the world of his opposite number isn't going to help you if he loses control and gets sent off in the first minute. 

Stealth and secrecy are two valuable weapons for any organisation. 

You never stop building - if you do, you stagnate. I always used to say, "The bus is moving; make sure you are on it, don't be left behind."

There is no point suddenly changing routines that players are comfortable with. It is counterproductive, saps morale, and immediately provokes players to question the new man's motive... My message about alcohol would have been more effective if I had just quietly gone about getting rid of one of the players who had the wrong priorities. In the end, it took a long time to eradicate the drinking habit. But, after I sold some of the main culprits, people could see I was not just full of hot air and things slowly started to improve. 

Friday, 17 March 2017

The Manager: Inside the Minds of Football's Leaders

After series of "serious" reading, time is just right for some relaxing stuff...

Ended up... what a boring book!!! In the first place, football is all about excitement and passionate. However, with the addition of management stuff, it suddenly overturns the whole thing into something rigid and boring. My intention to read this book is to get some relax mind after a hectic month. Ended up, the author forced me to think hard and squeeze my mind into more serious stuff (which I do not want at all, haha...).

Secondly, as usual with any sorts of football books, readers are more keen on the inside stories and incidents behind the scenes. This book is rather different. It focuses on the management skill before inserting all quotes from managers to emphasize on his management theories. At the end, it was all in the mess. Apart from the usual management skill, I found nothing interesting on my beloved football.

Thirdly, I personally think that it will be much better if each chapter had focused on a single manager. The title itself already told us that this is a book about managers. To me, it is more a book about the collective part or similarity among managers.  A misleading title? Definitely....

Finally, I browse through the background of the author. It seems that the author is not a traditional football author. He is more on the management side which deals with organisations and peoples. Hence, from the perspective of football fans, the author may not know what we want from a footballing books. At the same time, those who are keen on management stuff may not be so passionate about football too...

All in all, the book may be a decent read if you are looking for some management stuff in general with leadership in particular. For football fans like me, it is a huge disappointment. As such, I have no hesitation to rate this book at 2/10. It is out of my expectations and it is not the book I want in the first place... 

Friday, 10 March 2017

西藏生死书

这本书我想看很久了。理由有几个。第一,我非常向往有宗教信仰的一天。自小,我一直活在没有真正宗教信仰的国度里。第二,我是一个好奇心很重的人。对于不明白的事,总想打破沙锅问到底。宗教这个很玄的东西留下来太多谜团。因此,很想好好的研究一下这方面的领域。第三,对于圣经和古兰经我是非常熟悉的。但是,这两大宗教的历史背景造成我对于宗教始终抱着观望的态度。简单来说,这两本伟大的书籍尽管伟大,却始终打动不到我。第四,随着年龄的增长,总觉得需要一些心灵上的填补。因此,很向往有个宗教能让我不那么理性的去看待它。

结果。。。真抱歉!尽管这本书的本意是对的,尽管作者很努力的拟写了一本堪称可以和圣经,古兰经比拟的上等之作,本人就是没办法融入里头的世界。老实说,这本书的道理都对。但是,我就是没有办法领悟到里头的精髓。或许这么说,心灵上我需要宗教,但是忙忙碌碌的生活相对的比宗教重要的多了。

这本书让我想起了张德芬老师的【舍得让你爱的人受苦】。其实,张德芬老师在书里也时常提起这本书籍。但是,我读张德芬老师的书可是读的很投入。换回这本书,总觉得纳闷多了。也许,我惯性的很理性去阅读每一本书。因此,阅读张老师的书籍我很容易接受。毕竟,她的书没有太多玄妙和深奥的道理,有的只是现实生活中你我都会遇到的小故事。而,这本【西藏生死书】虽不难理解,但是玄秘的地方还真不少。这时,如果一切以理性为主,读者很难投入这本伟大书籍的真正奥妙。

10分满分,这本书我只打个2分。或许,十年后我会更加懂得欣赏这类书籍。

Monday, 27 February 2017

期货策略(中)

读了上一本,肯定得延续这一本。。。

结果是。。。这本书挺闷的。第一,和上一本一样,这本书还是比较着重于中国期货市场。当然,如上一本品论般,这肯定没错。错就错在中国期货,我们只能看,不能动,多纳闷!

第二,这本书重复了好多【期货兵法】的内容。当让,同一个作者,我也了解这是很难避免的。但是,同一个论点,读了又读,新鲜感肯定受威胁,呵呵。

整体上,这本书拟写的不错。唯一的错就错在以上两点。因此,10分满分,个人只能给予2分。如果硬要掰,还是那一句:【期货兵法】更好!!!

Tuesday, 21 February 2017

期货策略(上)

读了上一本方志的【炒股一定要懂股指期货】,对于方志这个作者,我开始非常感兴趣了。于是,这回找到了方志的一系列书籍。据说,期货策略有上,中下三册。但是,找来找去,只找到“上”和“中”的版本。好奇怪,难道说“上”和“中”都卖的不好?甭管了,读了再打算。

这本书写的不错。不过,对于比较资深的期货玩家来说,这本上册显得比较简单了一些。这本书主要集中在教育新手。尽管作者尝试用比较简单轻松的方式来呈现,但是对于老手来说,这本书肯定会闷死读者。对于我这类不老不少的读者又如何呢?老实说,我肯定比较喜欢【期货兵法】

再来,这本书非常着重于中国期货市场。本质上,这是对的。但是,对于我这个外来玩家,这本书顶多增加了我的视野。实质上,对于现阶段来说,这本书帮的到我的地方真的不多。

10分满分,看来我只能给予5分。老实说,这本书真的拟写的不错。错就错在我不是作者拟写这本书的目标读者。。。

Monday, 13 February 2017

炒股一定要懂股指期货

这本书,如果没记错,是通过【私募春秋:全国顶级期货投资机构运作思路】里头介绍而订阅的。作者的另一本书,【期货兵法】也是我很喜欢的一本书籍。

基本上,这本书应该是很基本的介绍股票和股指期货的联系。有时,基本的书籍未必是不好。惯性的阅读一大堆眼花缭乱的书籍后,偶尔读一读基本的东西也不错。至少,这本书让我温习和重温很多重要但被我抛到云霄之外的讯息。简单来说,这本书虽然很基本,但是写的非常好。至少,新手或伤痕累累的旧手都会从这本书得到该有的启示。

近年来,中国投资书籍越来越有水准。方志的书籍真的值得捧场。这本书对于我这个伤痕累累的老手来说,可能欠缺点新意。但是,诚如以上所说,这本书有些东西真的起到提醒的作用。10分满分,我给予8分。如果我还是新手,我肯定给足满分。这本书真的值得推荐。

Tuesday, 31 January 2017

独自徘徊在天堂与地狱之间

忘了当初怎么会购买这本书(买了好久了)。。。但是,感觉上这本书应该很不错。至少,书名很贴切。操盘手基本上就是活在天堂与地狱之间。

结果。。。期望越高,失望还真的免不了。尽管作者拥有若干年的经验,但是书里头却没什么新意。从一开始作者把W.江恩和索罗斯,杰西里费默一并排列赞扬时,我就觉得不对。试问对于W.江恩有些许了解的读者们都知道W.江恩根本称不上什么大师级。而且,把索罗斯和杰西里费默一起排列,简直就是牛头不对马嘴!

最后,作者的两招短线秘笈还真的让我对此书彻底绝望了。第一招,作者觉得突如其来的趋势大扭转是很好的逆势操作机会。当然,我不完全否定它的可能性。毕竟,这一类的操作我也做过。但是,如果把它堪称绝招,我就不敢恭维。预测始终是预测。如果硬要把它说成绝招,恐怕又得徘徊在天堂与地狱之间了。第二招,作者把连续开低走高(开高走低)堪称是另一绝招。还是那一句,预测始终是预测。怎么把预测看成招术了呢?

这本书的本意应该是不错的。但是,个人觉得这本书太肤浅了。作者有意无意的把杰西里费默当成是这本书的精髓。如果是这样,我宁愿从读杰西里费默的【股票作手回忆录】。至少,杰西里费默每一章都呈现出交易的真正“绝招”(而不是如作者般,把肤浅当盖世武功秘笈)。10分满分,基于书的本意和书名还挺到位,个人给予2分。很遗憾,中国操盘手还是没法写出类似【股票作手回忆录】的这类经典书籍。

Tuesday, 24 January 2017

New Trader,Rich Trader 2: Good Trades, Bad Trades

Steve Burns... an author who wrote some splendid commentary in Darvas's classic "How I made 2,000,000 in the Stock Market". Those days (during the very earlier part of my career), I used to adored Darvas stuff a lot. These days, the concept was still in my mind... but, practically, I am no more the Darvas fans... However, Steve Burns commentary was in my mind. I believe some of his commentary in the above mentioned book did helped to shape my belief and trading concept today. So, here I am with his latest book...

At the end... I am in dilemma on how to comment on this book. Overall, this is a nice book and I found it enjoyable to read. The authors divided this book into three major parts:
Part 1: Managing the Mind to stay in the game (sounds cruel, but very true, LOL)
Part 2: A robust methodology (well, an essential part for traders)
Part 3: Managing Risk (what else if not managing risk?)
Three major parts sounds good in theory. Unfortunately, it is really a "theoretically" book.  Credit must be given to the authors by presenting the "theory" through a conversation between a "new" trader versus "rich" trader. Of course, we had the well-know "Rich Daddy Poor Daddy" series before this. But, I reckon by presenting such a way, readers would not feel bored in reading this book.

As I mentioned above, since this book is more on the "theory" side... it is actually more suitable for beginners or novice. For advance traders, this book at most served as a refresher course. Advance traders might not be able to find anything new in this book. So, for experienced traders, this book may not sound appealing to them at all.

For a full rating of 10, I personally rate this book at 2/10. I love the format on how the theories being presented (new trader vs rich trader). However, this book offered nothing to impress me with my 15 years of trading journey. As I mentioned above, no doubt that it is an enjoyable read. But, I just could not find the gem I am craving for... too bad... 

Monday, 16 January 2017

The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist

I love Brett N.Steenbarger stuff... All his books never disappointed me. As such I was surprised that I missed this book even though it was published long time ago. Well, better late than never...

At the end... yes, it is still as splendid as expected. The moment I started it, I just cannot put down... I think all traders need to constantly read this book. It helps traders to improve as well as serves as a constant reminder to all traders in all aspects of trading. In the cruel world of trading, sometimes good lessons are forgotten. So, this book arrived at the right time for me.

Further to this.. this book is organized in such a way that the chapters are independent of one another. So, readers can read it in order or using table of contents that most applied to their current trading. As mentioned by author, this is not a traditional book, where readers need to read it through from front to back. Rather, readers can take any lesson at a time and apply it accordingly. Amazing...

Finally, I am trying hard to excerpt some excellent quotes from the book. However, I failed to do so as there are too many good quotes to choose from. As a result, I decided not to put any excerpt as usual. But, I highly recommend this book to all traders. I am going to make it an annual event to read this book every year. Having said that, I have no hesitant to rate this book at 10/10! What an excellent write up... thumbs up!!!