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As we topped in late July the bounce of the last week has convinced most people we are out of the woods.
Yesterday the markets topped, again (wave 2), and that includes my beloved REITs.
Hang on this can get quite nasty.
Thursday, September 06, 2007
MIND POWER
Last night I went to talk by John Kehoe's protégé Robin Banks.
The talk was about 'being happy' and I can honestly say that the talk was entertaining, thought provoking and motivational. Robin ended his talk by saying that motivational talks have a poor track record of lasting beyond the actual talk - they are typically feel good sessions.
I have not read the book Mind Power so it will be unfair of me to criticize the book, I will confine my critique to the Robin Banks presentation last night 5 September.
Whilst the talk was informative and convincing I feel Banks left the audience in the lurch; to be fair he did give 1 tool we could take away to help us achieve our objective of happiness. To this regard he speaks about responding to bad things with a dramatic "….. that is so fascinating!"
So in short I think the strategy he provided us with will once again amount to nothing but a feel good talk because putting the ideas in to practice is the crux, but he doesn’t equip us with tools to implement.
Now I may be unfairly critical because he speaks about a 4 week course which includes practical exercises.
I would like to suggest what I believe the talk is lacking in.
The subconscious mind is far stronger than the conscious mind, therefore the only way to develop a strategy of change is to work through the subconscious mind in conjunction with the conscious mind.
Here is where neuro linguistic programming (NLP) comes into the picture; working with just 1 mind is a waste of time as the self control and discipline required is beyond most of us. The way to effect change is to re-programme the way we think subconsciously together with conscious programming.
In conclusion if Robin Banks programme is combined with NLP I think people will walk away changed people FOREVER.
The talk was about 'being happy' and I can honestly say that the talk was entertaining, thought provoking and motivational. Robin ended his talk by saying that motivational talks have a poor track record of lasting beyond the actual talk - they are typically feel good sessions.
I have not read the book Mind Power so it will be unfair of me to criticize the book, I will confine my critique to the Robin Banks presentation last night 5 September.
Whilst the talk was informative and convincing I feel Banks left the audience in the lurch; to be fair he did give 1 tool we could take away to help us achieve our objective of happiness. To this regard he speaks about responding to bad things with a dramatic "….. that is so fascinating!"
So in short I think the strategy he provided us with will once again amount to nothing but a feel good talk because putting the ideas in to practice is the crux, but he doesn’t equip us with tools to implement.
Now I may be unfairly critical because he speaks about a 4 week course which includes practical exercises.
I would like to suggest what I believe the talk is lacking in.
The subconscious mind is far stronger than the conscious mind, therefore the only way to develop a strategy of change is to work through the subconscious mind in conjunction with the conscious mind.
Here is where neuro linguistic programming (NLP) comes into the picture; working with just 1 mind is a waste of time as the self control and discipline required is beyond most of us. The way to effect change is to re-programme the way we think subconsciously together with conscious programming.
In conclusion if Robin Banks programme is combined with NLP I think people will walk away changed people FOREVER.
Tuesday, September 04, 2007
Too Much Analysis???
Let me say that for some reason when I am making money and the markets are working in my favour I seldom keep up to date with my daily journal. However, when I am in the headlights or I am in two minds about a position I write like someone possessed.
It is at these times (going through one since last week) where I cannot stop analyzing every emotion and trying to define the meaning of life. Is this an advantage or disadvantage?
I think to myself Hedge Fund Manager XY, YZ & AB are real pro's and they never seem phased or 'waste' too much time getting deep and worrying about the stuff I contemplate. They seem to just get on with the job. Am I a sabotaging my chances with all these thoughts.
Let me try and answer this myself.
Firstly, I am not just your average guy, I am an intellectual, I ask questions and I have PhD in Economics to show for it.
Secondly, I am extremely competitive and driven to succeed. So part of all the analysis is to help formulate a strategy to beat the next guy or lets just call it the market.
Thirdly, I am someone committed to being a better person, and part of that commitment is better understanding all the things that make me tick, under all circumstances.
Fourthly, I am human and part of being human is finding fault in the things we do, so over analyzing is just part of being human.
Fifthly, the guy who is a pro definitely analyzes his situation and is honest with his mistakes, but the pro doesn’t dwell on his mistakes he gets on with the show.
Lastly, I have chosen a style that takes time to manifest. I am a medium to long term value trader therefore my calls are almost always early and I have to endure periods of stormy seas. Yes I could block all self analysis out and hope that my original work is what will save the day but that isn't necessarily the answer. In short I have chosen a style that requires patience and yes, analysis, so that when I make mistakes I can learn from them and hopefully never do them in the future. Also the greatest tool in my trading style is my brain and its ability to track my emotions. If I never kept a detailed analysis of my thoughts I would have no means to monitor and improve myself.
AAHHHH that feels better.
Mickson
It is at these times (going through one since last week) where I cannot stop analyzing every emotion and trying to define the meaning of life. Is this an advantage or disadvantage?
I think to myself Hedge Fund Manager XY, YZ & AB are real pro's and they never seem phased or 'waste' too much time getting deep and worrying about the stuff I contemplate. They seem to just get on with the job. Am I a sabotaging my chances with all these thoughts.
Let me try and answer this myself.
Firstly, I am not just your average guy, I am an intellectual, I ask questions and I have PhD in Economics to show for it.
Secondly, I am extremely competitive and driven to succeed. So part of all the analysis is to help formulate a strategy to beat the next guy or lets just call it the market.
Thirdly, I am someone committed to being a better person, and part of that commitment is better understanding all the things that make me tick, under all circumstances.
Fourthly, I am human and part of being human is finding fault in the things we do, so over analyzing is just part of being human.
Fifthly, the guy who is a pro definitely analyzes his situation and is honest with his mistakes, but the pro doesn’t dwell on his mistakes he gets on with the show.
Lastly, I have chosen a style that takes time to manifest. I am a medium to long term value trader therefore my calls are almost always early and I have to endure periods of stormy seas. Yes I could block all self analysis out and hope that my original work is what will save the day but that isn't necessarily the answer. In short I have chosen a style that requires patience and yes, analysis, so that when I make mistakes I can learn from them and hopefully never do them in the future. Also the greatest tool in my trading style is my brain and its ability to track my emotions. If I never kept a detailed analysis of my thoughts I would have no means to monitor and improve myself.
AAHHHH that feels better.
Mickson
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