Stretch

Really needs to outline sell criteria

Reviewed: 10-01-23

This is clearly a book for buy and hold investors.

Biggest criticism is the non existence of sell criteria to guide those kinds of investors.

A simple review of Stan Wienstein stage analysis would save these folks lots of drawdowns.

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Typical big bank GFC failure story

Reviewed: 03-28-23

Was looking for a book about the S&L crisis, though this one mostly covered the GFC.

Looks of details, still relevant in today's environment.

Bit depressing when the outcome continues to be: banks made lots of money with little repercussions, meanwhile the average homeowner takes the brunt of a bad product.

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Laugh while learning

Reviewed: 03-05-23

Personal/Professional development that'll make you laugh while you absorb it.

Kevin is relatable in his story, upbringing and struggles.

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There's a newer/updated trading psychology book

Reviewed: 02-11-23

Not knocking this book completely, we all started on this recommendation.

But simply put: when you read Tendler's "The Mental Game of Trading" you'll realize why Douglas' book would be considered motivational/inspirational...but lacks practical/actionable steps or information.

Douglas' book has good info for sure,, but it doesn't really address how you would improve your trading. Ask yourself does: "trust your process/system", "control your emotions", "accept random outcomes", etc. really suddenly solve your trading problems?

Of course people/traders are and learn differently, so this book might resonate with some.

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Bit utopian but interesting ideas

Reviewed: 12-28-22

Actually thought the book covered more economic than technological subjects, but did in the end enjoy the topics covered.

Much of what's discussed is relatable to today's environment, and clearly borrowed from Bill Gross' "Changing World Order" presentation.

The ending idea certainly feels utopian as achieving that goal would initially come with a lot of pain to the general population. Not to mention the expectation that developing countries would also give up their desire to consume more in pursuit of having less but being happier.

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Great for simplifying central banks, reserves, etc

Reviewed: 12-16-22

Ignore the BTC maxi views at the end and you'll get what you need from the book in terms of understanding role of central banks, retail vs wholesale funding, etc.

Particularly liked how the author broke down 1-3 levels/layers of finance.

As for Bitcoin, yes it presents a possible solution.
Currently see two main problems at the moment (which can change):

1) requires mass acceptance as reserve currency
2) implies that current reserve currency country (issuer) and debtor countries would want the current USD system to stop

Can't get into the details in a review, but from a macro standpoint who's to say the issuer and debtors would want the current arrangement to end?

Anyways, yes the system is flawed and kicking the debt can down the road. Won't disagree that a solution would be needed at some point.

Narrator: personal preference, but didn't enjoy the narrator's accent attempts when reading as not the author throughout the book.

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Caveat Lector

Reviewed: 12-03-22

Had been looking forward to reading this for some time, and well...oof.

You want to learn about the workings (good and bad) of the Fed to educate yourself, but you end up sitting through a tangled web of conspiracy theories by your babbling brother in law.

As with any book, it's not that you won't get some interesting points from it (you will) but it definitely starts going off the rails the longer you sit through it.

At least you now know where the world's Kiyosaki's, gold bugs, antisocialists, and believers of that "secret banking cartel" get their talking points from.

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Relevant then and now

Reviewed: 08-24-22

Providers a less known perspective (energy/oil) on the Ukrainian war/invasion. Enjoyable listen, intricately woven storytelling.

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Read for trading, applicable all decisions

Reviewed: 08-03-22

Did not find the content overly repetitive like other reviews had stated.

Yes, you could get the same info by reading a handful of other well-known books. But Annie did a good job of summarizing the key points and applying real world examples.

Definitely will involve aspects of the book into trading, particularly in reviewing trades and outcomes (good or "bad").

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What aspiring traders should read first

Reviewed: 07-22-22

If I could look back this would be what I wish was recommended to read first when first started trading. Very underrepresented book in the trading realm imo.

Everyone mentions Reminisces, Wizards series, How I made 2 million, HTMMIS, etc. which are all great books in their own right. But they do not provide the groundwork of making a trading (ie business) plan, developing an edge/system, very specific rules, etc.

In retrospect believe that this book along with "One Good Trade" from SMB Capital are the two that aspiring traders should go to first before actually starting trading.

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3 people found this helpful