Saturday, June 28, 2008
Got a winner!
$2 million is the winning bid to lunch with Warren Buffet. I heard the winner is a Chinese hedge fund manager. Yahoo Finance now has the full story here.
Friday, June 27, 2008
Thursday, June 26, 2008
Tuesday, June 24, 2008
Monday, June 23, 2008
Sunday, June 22, 2008
Lunch with Buffet
The auction with Warren Buffet starts tonight. This is the 6th year. I did not know the winning bidder could bring up to 7 friends at the lunch. So that is $100,000 a person if calculated with last year's price. Not a bad investment. Definitely I would go if I have enough knowledge to communicate with him.
My dream
Before I dislike the economist as a title or a profession and I felt embarrassed to say I was majoring in economics, since at that time I thought it stood for stubbornness, old school and poor professors. After years in the trading business, I now have a totally different point of view.
As a short term trader, all I can foresee is hours ahead or days ahead maximum. So the profit is limited by the time. Once the price is beyond the time I could reasonably guess, I become uncertain and suspicious.
But the economist can forecast much further than that. I am talking about the best breed, like Jim Rogers, Warren Buffet etc. They see things years ahead. Jim Rogers has been bullish on basic material since years ago. Warren Buffet bought Petrochina when nobody wanted it and sold it at high.
That is power I want to pursue in the future. I wish I could be one of them, I could see what they see, do what they do. I dream to be called as an economist.
As a short term trader, all I can foresee is hours ahead or days ahead maximum. So the profit is limited by the time. Once the price is beyond the time I could reasonably guess, I become uncertain and suspicious.
But the economist can forecast much further than that. I am talking about the best breed, like Jim Rogers, Warren Buffet etc. They see things years ahead. Jim Rogers has been bullish on basic material since years ago. Warren Buffet bought Petrochina when nobody wanted it and sold it at high.
That is power I want to pursue in the future. I wish I could be one of them, I could see what they see, do what they do. I dream to be called as an economist.
Thursday, June 19, 2008
I remain short term bullish
The NASDAQ outperforms S&P right now with C is again breaking $20. I don't see much downside from here.
Wednesday, June 18, 2008
BKX
BKX is now near the low of 2002 on the weekly chart. It is due for a bounce. And you know my attitude towards the financial sector.
Tuesday, June 17, 2008
Monday, June 16, 2008
A big leap forward
I just find out I never talked about trading diary on this website. It is THE MOST VALUABLE TOOL improving my trading skills. Many of the most important lessons in markets need to be learned and relearned. When we write about ourselves , we necessarily stand outside ourselves. At those times, we identifying with the mentor within us, not with the trader having difficulties. The trading diary is a means of communication from us as mentors to us as traders.
Do you know?
Do you know in the medical world, students participating in rotations covering each of the specialty field to experience them firsthand? After six weeks of pediatrics, six weeks of general surgery, six weeks of radiology, and six weeks of psychiatry, students begin to gain a sense for the kinds of medical practice that speak to their strengths and interests. Most of all, they learn which of the fields is fun. Students destined for surgery and emergency medicine gravitate toward active practice fields. Research physicians find their fulfillment in problem solving and the analytical process. Each group finds its own path through the developmental process.
Now imagine approaching trading as if it were medical education: trading baskets of stocks for 6 weeks, developing a trading system for precious metals futures over the next 6 weeks, and then spending 12 weeks building currency positions based on macro analysis.
And now you know what interests you most, what market and what time frame you feel most comfortable to trade in.
Practical? I think it is worthy to find your trading mate.
Now imagine approaching trading as if it were medical education: trading baskets of stocks for 6 weeks, developing a trading system for precious metals futures over the next 6 weeks, and then spending 12 weeks building currency positions based on macro analysis.
And now you know what interests you most, what market and what time frame you feel most comfortable to trade in.
Practical? I think it is worthy to find your trading mate.
Saturday, June 14, 2008
Another miss
The notation was left on Monday, the low on Tuesday was $90.82. I did not expect AGU could just rally facing an ugly market. Oh, well.
Monday, June 9, 2008
China's best economist
Xiuyun Han is the best economist in China to my knowledge. Run and get her latest insights on housing, stock market, currency and employment etc here.
Thursday, June 5, 2008
Tuesday, June 3, 2008
Bad for Chinese people living in the States
Before you had the luxury not to invest, CD might be a good alternative. But now Renminbi just broke 7 and it is on the way to 6, 5, even 2, where Jim Rogers projects in the foreseeable future. With the speed like that, I don't see any directions other than that. If you have no plan to go back to China, no education plan for your kids, or no retirement plans, you can skip this. If any of the above occurs to you in the night, you are now FORCED to invest. You are now FORCED to beat the market.
I will skip the education and retirement plans here, since they are common sense to most people. I will show you how scary it is to Chinese people earning dollars when Renminbi appreciates to 2.
If you make $50,000 or Renminbi 350,000 a year, a regular wage in the States, you are still treated as a gold collar in China right now. This will change dramatically when a dollar can only get two yuan. Then you are making Renminbi 100,000 a year, which is just a little more than the wages of a masseuse at Liangzi, Beijing, who came directly from a Henan village, without much education.
Everybody knows the price of automobiles and housing in Beijing is high, what about groceries? Unfortunately I tossed away the last receipt which is over Renminbi 400 for a trip to a supermarket called Yichulianhua, I will definitely attach it next time.
I hope you get what I am saying. If you have money, buy Chinese asset; if not, make extra money by investing and then buy Chinese asset. I don't want you to be shy on your pocket when you go back to China next time, your Chinese relatives will look down on you. From where? America?
I will skip the education and retirement plans here, since they are common sense to most people. I will show you how scary it is to Chinese people earning dollars when Renminbi appreciates to 2.
If you make $50,000 or Renminbi 350,000 a year, a regular wage in the States, you are still treated as a gold collar in China right now. This will change dramatically when a dollar can only get two yuan. Then you are making Renminbi 100,000 a year, which is just a little more than the wages of a masseuse at Liangzi, Beijing, who came directly from a Henan village, without much education.
Everybody knows the price of automobiles and housing in Beijing is high, what about groceries? Unfortunately I tossed away the last receipt which is over Renminbi 400 for a trip to a supermarket called Yichulianhua, I will definitely attach it next time.
I hope you get what I am saying. If you have money, buy Chinese asset; if not, make extra money by investing and then buy Chinese asset. I don't want you to be shy on your pocket when you go back to China next time, your Chinese relatives will look down on you. From where? America?
Monday, June 2, 2008
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