Reasonability and Sensibility
Reasonability and Sensibility
December 20, 2018. Following the Fed rate hike, stock indices dropped to new lows to confirm the entry of a bear market. This should not be a surprise to a significant portion of stock traders. Back to October this year, many people already had a pretty firm belief (still not 100% sure, as there is never ever a 100% certainty in this world) that the Bear was approaching to kill. And for some of them, the whipsaw patterns within last two months have been nothing but a further confirmation that the market was on its way to fall, and to fall heavily. However, not many of these believers took home a good profit even though their prediction turned out to be correct. Why? This question got me to examine two concepts: reasonability and sensibility.
A Reflection of Trading Psychology
Buy low, sell high.
Right. It’s a simple game. But are you ready for it?
** Chapter I **
“Full many a glorious morning have I seen
Flatter the mountain tops with sovereign eye,
Kissing with golden face the meadows green,
Gilding pale streams with heavenly alchemy…”
Book Excerpts - The Lessons of History
THE LESSONS OF HISTORY¶
- Will & Ariel Durant
The celebrated collection of essays compiling over 5,000 years of history by two of the greatest thinkers of our time.
Book Excerpts - Winning at Active Management
Winning at Active Management¶
The Essential Role of Culture, Philosophy, and Technology
William Priest, Steven Bleiberg, Michael Welhoelter with John Keefe
July 2016
Beyond IFRS 9 Governance and Controls
New Reflections on IFRS 9 Implementation
Beyond IFRS 9 Governance and ControlsVIX指数衍生品交易 基础篇 S&P 500 VIX期货指数
VXX、XIV、UVXY、SVXY等众多的VIX指数ETP产品,是市场上风险结构最为复杂的金融工具产品(注意我们强调金融工具产品,而不是金融产品)。
我们在前面多篇文章逐步介绍了与搭建这些ETP产品有关的基础产品的相关知识,也初步演示了部分量化分析方法和代码样本。其中的细节是读者需要深入理解并熟练掌握的。
在正式引入ETP之前,还有一个重要概念需要解释-这就是几乎所有VIX指数ETP产品所跟踪的S&P 500 VIX期货系列指数(S&P 500 VIX Futures Index Series)。有关详细内容,请读者参考S&P Dow Jones Indices官方网站查阅。
VXX/XIV量化分析演示(中文版)
本节讲解并通过Python代码逐步验证Tony Cooper关于VIX衍生品VXX及XIV的量化分析方法和实践策略
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