The Money Game

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The risk to funds managers includes optics: how does it look to own big losers, how does it look to own winners, how does it look sitting on a big pile of cash while the market rises. Chapter 4: Since 80% of the market is psychology or deeper still human emotionality, the market can really be seen as a crowd. This was apparently the handbook for white collar criminals and cheesy suburban guys who fancied themselves investment mavericks around 50 years ago. The more thoughtful would get the principles involved; the others might simply play it for the fun of the thing without giving much thought to the principles illustrated.

Money Games - Family Learning Money Games - Family Learning

Chapter 7: The only real protection against all the ups and downs of the market (the anxiety) is to have an identity so firm it is not influenced by all the brouhaha in the marketplace. First edition 1928] A card game for four or more players, earliest copyright for prototype 1912, apparatus patented 1928. While the concepts may still be valid the companies used as examples either don’t exist anymore or are irrelevant today. If the random walk is indeed Truth, then all charts and most investment advice have the value of zero, and that is going to affect the rules of the Game. Chapter 18: If you are in the right thing at the wrong time, you may be right but have a long wait; at least you are better off than coming late to the party.and teasing the financial powers that be, but this is all coming from a man who makes his money on Wall Street, who is inherently of the system he’s commenting on. Still – if you were to extend the logic of an awards show’s joke too far, take it to its limit, the ultimate question would raise its head: why on earth are we paying attention to this?

The Money Game by George Goodman | Goodreads

Long before the term behavioural finance there was someone writing about the significance of identity.

The simple brilliance of the author’s Irregular Rules (the name itself breathes genius) speaks for itself. There has always been a They in markets, which Smith refers to as elephants, that move markets at a whim. Beware of goals identified by numbers because it’s easy to fixate on a big round number and sometimes the goals — goalposts — often get moved by jealousy or envy or greed…or dreams. Worry not, he devoted an entire chapter to this: “-Irwin, tell the truth now, if all these computers go on the air, as you say, does individual investors stand any chance?