Markham Gross

@micsolana I feel like I’ve read this book before.

should we build more power plants? no. should we actually build infrastructure with the trillions in "infrastructure" funding? no. you get a moratorium on computers. man, I fucking hate socialists.

@gfc4 @jackschwager This is Great, George! Congratulations to you and Jack on the book coming out. I look forward to reading it and adding it to the library.

I intend to share the story of my path to co-authoring a MW book in the book itself. The short version is that I shared my paper on Michael Marcus with @jackschwager hoping for his feedback since he knew Marcus. It is always nice to get "inside" input from direct sources when I write papers on traders based on public information. Thanks to @moritzseibert for the intro - without his intro there probably wouldn't be another MW book. My conversations with Jack eventually led to the forthcoming book. FWIW I wrote the Marcus paper and my other trader papers (link in bio for all publications mentioned here) out of personal curiosity and a desire to improve my own trading. I started my Market Meditations Substack mostly to warehouse my own thoughts. I never really intended to get anything out of my writing other than to have an easy place to go reread my own research. Yet here we are. Long way of saying I did not set out to co-author a MW book but I'm pretty happy it worked out that way. Sometimes sharing things online for free leads to big things.

Headlines like this actually get me excited. wsj.com/finance/invest…

@realEstateTrent 💯

Excel over google sheets, sorry not sorry

I recently looked at a “diversified” portfolio of 7 ETFs and mutual funds for someone. Ran monthly return correlations against S&P500 ETF, which was one of the seven. Correlations of the other six: 1) 91%, 2) 97%, 3) 74%, 4) 100%, 5) 86%, 6) 87%. “Diversified”?

The most robust portfolios have several non-correlated return streams. That is they perform independently of each other. Not opposite of each other as that would be a hedge. A bunch of different stocks is not truly diversified.

To take money out of the markets (extract profits) over the long term, you must accept some psychological and financial pain along the way. Long-term growth is not a straight line with anything in life.

@matt_lorelli Saw a track in Banana

Do The Fingers go? Guess we’re going to find out!

@orenjacob @palisadestahoe Definitely some good runs up there!

Granite Chief lift line , 2 best runs of the season, and a slo-mo snowball fight for the ages! Love it @palisadestahoe What a fantastic day!!!

@ClintFiore Northern NV is pretty nice for these things.

For me: Utah, Idaho, Colorado, Montana, Wyoming, Arizona, Tennessee, Carolinas If I ever relocate from TX it will be somewhere with mountains, fresh air, and freedom.

@atmosinvest Reminiscences of a Stock Operator, Market Wizards, New Market Wizards, Trend Following. Those all influenced me early on and I think I probably read them in that order. Also Antifragile. What do you recommend?

@MarkhamGross Thinking in probabilities is not a natural skill. Any books you would recommend?

Uncertainty is a major piece of the investing puzzle. Strategies and systems need to be able to handle uncertainty.

Fun flying.

@nntaleb Lift weights and ride bikes. Mountain bike (enduro over cross country) might also be more robust type of full body training relative to road.

This cyclist friend of mine who asks me to put questions to my Twitter friends (he is shy) has noticed some frailty in the cyclist community owing to the lack of bone stress. As this other friend of mine explained in Antifragile, bones also determine muscle health. No papers on rucksacking/osteopenia.

@pkedrosky Supply is restricted by government while demand is more and more subsidized by government. Higher costs for less quality is always the result of that. In a free market, high quality practitioners can still make just as much if not more.

@pkedrosky Father was a doc and agreed with this opinion. Medical care is not currently a free market.

@UCFGonzo Congrats!

So beyond proud of my DUDE! He's busted his ass to get to this point! Still work to be done! I love you and can't wait to see how far you go! #ProudPapa #ILoveMyBoy

Easy - diversified Trend and it would be a large allocation.

Funymentals

Lots of snow and rock to clear this year on Tioga Pass. Usually a regular spring backcountry ski for me, but never got to it this year.