Jason looks at “buying/shorting” coming to extremes and then trades when the market goes in the opposite direction when the news suggests that there should be a continuation.
Learned so many things. I haven't read "market wizards" I have to read that. The whole contrarian mindset is pretty much the essence of shorting. Calling out these touters and betting against them. It's great to hear from someone who has decades of experience. I would like to hear another interview with Jason!
Thank you Andrew for setting up the interview but an extra thank you to Jason, who you could see looked exhausted at the start of the interview but then his passion came out and you could really see it. I definitely resonate with his style of trading. Thanks guys!
Liking these interviews with discretionary traders...they give a unique perspective of the markets that helps me approach system design a bit differently.
Another great podcast! Thanks Andrew. Thanks for bringing heavyweight traders to the channel. Contrarian trading seems the most difficult way of making money due to its statistical properties. I hope Jason hedges his portfolio by having some trend following stuff as well.
Thanks for the comment. Do not use other strategies to hedge, just the system I use which can provide trades that would be considered a hedge (ex. short Nasdaq, but long AUD in today's market). The contrarian system has zero correlations with any other system out there, which is why clients allocate to this strategy. With risk management, draw downs are kept to a minimum and had positive years only. Keep in mind I do not benchmark against Indices, but follow a strategy to manage client money professionally and what they expect from this allocation.
The day people realize that investment performance implies RISK-ADJUSTED returns (as opposed to returns alone), they will understand the reason for algorithmic trading. But not until.
Most of us don't have the time or the ability to trade the market with any consistent positive results. Some of us get lucky for a few trades or we find a big holy grail trade that can make our portfolio.
For me a contrarian is an investor not a speculator. Buy when they are selling, take profit in due time. When the market is buying, you know what you should do , which side do you prefer? At the end of the day, market always reverse. When you are not gaining from your genius analysis, take 180 deg turn or quit.
What was your #1 takeaway from my chat with Jason? Let me know in the comments below.
Jason looks at “buying/shorting” coming to extremes and then trades when the market goes in the opposite direction when the news suggests that there should be a continuation.
Learned so many things. I haven't read "market wizards" I have to read that. The whole contrarian mindset is pretty much the essence of shorting. Calling out these touters and betting against them. It's great to hear from someone who has decades of experience. I would like to hear another interview with Jason!
Thank you Andrew for setting up the interview but an extra thank you to Jason, who you could see looked exhausted at the start of the interview but then his passion came out and you could really see it. I definitely resonate with his style of trading. Thanks guys!
cheers mike!
Thanks Mike. Trading is not easy work but it can be amazing work.
very true.....about Mr. Shapiro.
Liking these interviews with discretionary traders...they give a unique perspective of the markets that helps me approach system design a bit differently.
agreed @james - I think there are things to learn from all trading styles, even if it isn't the style you like to use, thanks for listening!
Thanks for the comment. Tried system trading, but could not sit on the sidelines and not use discretion based on a couple decades of experience.
I manage a hedge fund because I have no idea...Exactly correct
:-)
Another great podcast! Thanks Andrew. Thanks for bringing heavyweight traders to the channel. Contrarian trading seems the most difficult way of making money due to its statistical properties. I hope Jason hedges his portfolio by having some trend following stuff as well.
glad you like google, cheers.
Thanks for the comment. Do not use other strategies to hedge, just the system I use which can provide trades that would be considered a hedge (ex. short Nasdaq, but long AUD in today's market). The contrarian system has zero correlations with any other system out there, which is why clients allocate to this strategy. With risk management, draw downs are kept to a minimum and had positive years only. Keep in mind I do not benchmark against Indices, but follow a strategy to manage client money professionally and what they expect from this allocation.
great interview
cheers Michael, glad you liked it!
The day people realize that investment performance implies RISK-ADJUSTED returns (as opposed to returns alone), they will understand the reason for algorithmic trading. But not until.
thanks for the comment FX
Thank you both
our pleasure @M!
Most of us don't have the time or the ability to trade the market with any consistent positive results. Some of us get lucky for a few trades or we find a big holy grail trade that can make our portfolio.
For me a contrarian is an investor not a speculator. Buy when they are selling, take profit in due time. When the market is buying, you know what you should do , which side do you prefer? At the end of the day, market always reverse. When you are not gaining from your genius analysis, take 180 deg turn or quit.
This guy is a gangster; love him!
LOL. Thanks Charles.
Great concept: news failure
boring, just wasted my time.