All posts filed under: Readings

Exchange Networks, Not Markets

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Ramblings / Readings

Why is the real world made up of exchange networks rather than markets? In a word: trust. Relationships in an exchange network quickly become stable (we go back again and again to the person who gives us the best deal), and with stability comes trust, i.e., the expectation of a continued valuable relationship. This is different than in a typical market, where a buyer may deal with a different seller every day as prices fluctuate. […]

The Number One Rule in Day Trading

Readings

Day Trading 101 is a great introduction into the world of financial trading. Trading requires a different mindset—one of getting in and getting out at the right times instead of holding until fundamentals change. Since the goal is so different than investing the rules are different. The book makes it very clear that the number one rule in trading is capital preservation. The book is designed for people without any investing knowledge but is certainly […]

Changing Your Mindset May Be the Key to Success

Readings

Do you have a growth mindset or a fixed mindset? The question didn’t even make sense until I read Mindset: the new psychology of success by Carol S. Dweck, Ph.D. Dweck’s thesis is that internal beliefs about one’s and other’s ability to learn is the key to lifelong success. Do you believe that people are born smart or that high achieving people worked hard to attain their position? Do you believe that with time and […]