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.
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…”
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.
Winning at Active Management¶
The Essential Role of Culture, Philosophy, and Technology
William Priest, Steven Bleiberg, Michael Welhoelter with John Keefe
New Reflections on IFRS 9 ImplementationBeyond IFRS 9 Governance and Controls
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。