Some long-term Members might remember the story about one of the Marcus Today Members who used to work in a Collins Class submarine on weapons systems (computer whizz). When they surfaced he would download stock-market data. When they submerged he would spend many hours of idle time back testing numbers looking for patterns in…
If making money in the market is about buying when the balance of probability is in your favour, in individual stocks, then your odds are always going to better if you 'play' in stocks that are moving from bottom left to top right (BL2TR) on a chart, not top left to bottom right (TL2BR). This…
Rising case numbers in the US don’t seem to be upsetting the markets. No-one seems to care in the US. One colleague got a text from a cousin in Washington DC yesterday saying that “everyone is just getting back to normal and they’ll handle the virus if they get it”. Here we are in Victoria…
VISUALISING A Livewire article that captured my interest. Chad Slater from Morphic Asset Management talking about visualisation – he starts with this: "Back in high school, lacking both high levels of coordination and physical size, I ended up picking cross country and middle-distance running as my sports. One of the coaches was particularly keen on…
I was in London in 1987, in October, during ‘The Crash’, I was on the institutional desk of one of the big brokers. We still look back and wonder why it happened. There were a string of reasons in hindsight. The Big Bang. The introduction of computer trading. Or just an extreme moment for ‘the…
Henry Jennings I have written on the delights of having a small hedge in times of trouble and have had many emails asking for what level of hedging you should have? The answer is easy. It depends. Very JP Morgan when asked about where he saw the markets going. ‘It will be volatile’. The question…
The Growth Portfolio we manage for our investors and Members ($55m) has outperformed over the COVID-19 outbreak. For us COVID-19 was not a disaster, the volatility it caused proved to be a fabulous opportunity instead. How have we outperformed? And why have we locked it in? At the risk of letting out our Secret Herbs…
I thought this email was worth publishing. This email followed Henry's On the Couch session with Technical Analyst Regina Meani on Saturday: EMAIL FROM A MEMBER – Over the years I have tried and tested just about every indicator that exists. I also try to keep things as simple as practicable, but still effective, so have…
It is interesting sometimes to look back at momentous turning points. For us, that was late March. I thought it would be a good idea to have look back at my March ramblings in Henry’s Take especially on small caps and the overall strategy of the team.
