If you missed last night's episode of Market Shrinkology (on Stocktwits TV) with Dr. Phil Pearlman, you missed a good one. That's why I'm posting it here for your archived enjoyment.
I've been recommending Phil's show lately to a few of my friends as I'm consistently impressed with the show's (and the channel's) no-frills, lo-fi, DIY approach. There are no fancy lights or makeup, no contrived set designs or teleprompters, just live web TV with a ton of interesting ideas and live feedback from the Stocktwits user stream.
As you'll see in this episode, poker and trading were actually secondary themes in a discussion on Prospect Theory, "rational aggression", and the relationship between fear and greed.
Still, there is some very interesting info here on position sizing and money management in poker and trading, with particular reference (from host and viewers) on the philosophies of poker player Doyle Brunson and trader Jesse Livermore. Plus, a few thoughts on the importance of keeping accurate and organzied trading records.
Enjoy the program, and check out Stocktwits TV for more shows done by traders, for traders.
Related articles and posts:
1. Poker investing: Jeff Yass of Susquehanna - Finance Trends.
2. Dasan on poker and investing - Finance Trends.
2 comments:
Thanks for this post David, I will watch Dr. Phil's piece with interest.
As you and your readers will see from my Texas Holdem Investing postings, I am a firm believer in using poker as a tool to teach investing.
So seeing prominent investment personalities like Dr. Phil endorsing the similarities between both fields is very encouraging for me.
Thanks, John. Glad you found your way to this post.
I think Phil makes some very interesting points in this video, and I'm a real fan of the Market Shrinkology program overall.
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