DailySpeculations.com is Victor Niederhoffers blog. It started because he has long had an e-mail list named “the spec list.” He is the man who runs it but everyone from the spec list contributes to it. So what do they talk about? You might think that because it is called Daily Speculations and the owner of the site runs a hedge fund that it only deals with stocks and other tradeable securities but you would be wrong. DailySpeculations deals in stocks, bonds, futures, options, statistics, software, philosophy, literature, history, people. world events, etc. Basically Victor has a bunch of really intelligent people contribute whatever they feel like. The result for the most part a very insightful blog where you can learn something or at least get a different perspective on something almost every day.
So who is Victor Niederhoffer? If you have been trading for a long time you have heard of him. He was one of the most successful hedge fund managers for about 15 years ending in 1998 when he had a series of unfortunate events and a case of overleverage leading to his fund “blowing up” and the saying goes. He then came back and had a wonderful three year run but once again getting hit very hard back in August. A lot of people do not like listening to him because they don’t want to hear anything from someone who has blown up twice but there are a few reasons to read his writings. First if you have read his two books “Education Of A Speculator” and “Practical Speculation” you have learned a lot. You have learned to question and test everything if nothing else (and I would venture to say you have learned a lot more). Second is that you can look at the other fruits of his labor, namely that his shop has helped produce such trader legends as Monroe Trout, Toby Crabel, Roy Niederhoffer, and several other successful traders. So why has he blown up twice you might ask. I am not totally sure but I think it is probably the psychological aspect of trading that has gotten him and not his processes for finding trades. Basically a little overconfidence now and then when you are leveraged can wipe you out in a short time. Enough about Vic and back to the blog.
Here are some fairly recent insightful posts.
Vic on Practice
Capitalism In Schools
These are illustrative of the types of writings you will find over at DailySpeculations.com It is a treasure trove of insights into all sorts of things. Go and read it and then go and read more of it. There is a lot of content and lot of good content.
TheMacroTrader.com is the blog to the newsletter of the same name. Macro trading as explained in this post is basically looking at any asset class, in any country, using a variety of strategies looking for the best risk to reward opportunities in the globe. They are trying to fill the void in good global research. We all hear about George Soros, Paul Tudor Jones, Bruce Kovner, and several other legendary Macro Managers but we never get to see research reports that explain what global markets to invest in or why precious metals should go up or why emerging market bonds are a good buy. TheMacroTrader.comis aiming to narrow that gap with their newsletter and blog.
One of the more recent posts Global Watch List gives charts of the countries currently passing their proprietary liquidity/trend screens. They have also shown us some of the criteria they look for when investing in foreign markets here with this post on the Singapore EWS etf.
We have found that with a few exceptions the majority of investment or stock blogs out there cater almost exclusively to the US stock market and while there is nothing wrong with that there are several other opportunities out there to exploit and profit from. TheMacroTrader.com focuses on every market that they can. So far their posts have covered global stock indexes, junk bond/high yield bond trading models, and systematic vs discretionary trading.
Basically if you want a glimpse into what global macro is all about and more specifically you want to see some examples of the type of trading a global manager does you would be well advised to stop by TheMacroTrader.com often and add it to your feed reader.
RGE Monitor.com Roubini
RGE Monitor.com Setser
Are you one of those type of people that not only want to sound informed and sound smart but actually be better informed and understand what you are talking about? Well if you do and you like talking investments than this is one of the better blogs to read. These guys run a subscription based service that is known on the street as a great piece of research. They pump out timely economic advice and discuss different perceptions on a wide array of topics. Well lucky for all of us they also have two great blogs. Nouriel Roubini and Brad Setser are both excellent analysts and economists. Lately they have covered a lot of topics regarding energy, oil, and all things Asia.
Want to know all about Level 3 mark to model? Do you even know what that is? Well if the answers to those questions go Yes, but No, then you will want to read this Level 3 If you have read about it anywhere else then they probably got there info from these guys.
They aren’t perfect but if you want to be far better informed then anyone you know. Or just like knowledge for knowledge sake you can’t miss making RGE Monitor a regular stop in your RSS reader.