New Books To Enrich your thinking, Lessons from a Decade of Trading, Cash is king (but for how long more)
New Books To Enrich your thinking, Lessons from a Decade of Trading, Cash is king (but for how long more)
New Books To Enrich your thinking
Adam Grant shared his list of recommended 12 new books for the coming fall.
While all of them are good in their own way, here’re 3 books that’s on my watchlist (which applies to me most).
The Right Kind of Wrong by Amy Edmondson
Failure in any aspect of life often comes with a negative connotation.
Since young, we have been brought up to avoid failure, and to succeed at everything we do.
This is a mindset that needs re-wiring.
Without failure, there is no chance at success.
Thomas Edison failed 1,000 times before he created the first light bulb.
Learning how to fail well is more important than just learning to succeed.
Writing for Busy Readers by Todd Rogers and Jessica Lasky-Fink
Is ChatGPT and AI going to replace writers?
Not so fast.
Writing involves communicating. AI has its limitations in this area.
Becoming a better writer and communicator should be the goal to work towards.
It’s On Me by Sara Kuburic
Our identities are commonly tied to our jobs/ career. No surprise given that we spend a third of our lives working.
This may cause us to suffer from a loss of self.
Using her training in existential psychotherapy, Sara highlights how we can regain control of our identities and take charge of our lives.
Lessons from a decade of trading
Rayner shared about how he discovered trading, and how it ended up working out for him.
How he transitioned from a 9-to-5 to a full-time trader.
With trading, there’s no boss to answer to, and no upside to income ceiling.
The flip side is that this requires huge discipline.
Having an edge is the key to successful trading.
The trading strategy also must have a record of being profitable over multi-periods.
Why most traders don’t get an edge in the markets is that they focus on the wrong things like:
Psychology
Risk management
Relying on fundamental analysis
Follow what other traders do
Cash is king, but for how long more?
The biggest companies in the world are earning massive interest income on their cash holdings.
Apple, for example, earned $980 million in interest income for the latest quarter.
Companies that has high debt and low cash generating abilities are the ones who are suffering in the current environment.
The current high interest rates might tempt investors to put their cash into safe instruments like T-Bills.
Hold up.
The S&P 500 is up 16% year-to-date, many times higher than investing in T-bills giving 3% to 4%.
T-bills are not a substitute for stocks as long term investments.
Read more: https://finbiteinsights.substack.com/p/cash-is-king-but-for-how-long-more
That's all I have for you today.
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