After over a decade of actively trading, feast to famine to feast to famine again, I threw in the towel about a year ago. I was strictly daytrading and system trading. The markets still very much pull me. Now that I have a steady job and a child on the way I was wanted to dip my toe back into the markets, however in a long term value investing way. Just wondering if you all might know of a good book on "value investing" longer term investing? Any and all recommendations would be much appreciated. Thank you for taking the time to read the email. All the best! John
I bet the feast was when he was making lots of money and the famine was when he was losing money. That would be my bet but I'm not a betting man.
Lol, right... Well I was hired as a trader for a firm and after about a year I started to turn net positive. The next few years I really started to hit it, decided to go off on my own with my own nut. I started to lose my edge a bit not being in an office and trading from home. Decided to trade with a group and split the rent of a downtown office. Here I found a niche with I exploited for a couple of years. Again, I turned a bit arrogant and decided to go off on my own. The fundamentals greatly changed in the sectors I was trading, I didn't and as a result started to loose my ass. I was on the wrong end on a few M&As, made some told rookie mistakes and well... Part of my problem is that more money I made, the bigger my position sizes became... Anyways, Im done with the roller coaster and am looking to get into longer term value investing.
I hate people that whine about how things change. Joel Greenblatt Value Investing book rang true to me. I don't use it. Unsolicited: Read Bogleheads forums, adopt their philosophy.