Tackle Today: I am Iron Man
August 8, 2018
– Warren, what do you consider the most important quality for an investment manager?
– It’s the temperamental quality, not an intellectual quality. You don’t need tons of IQ in this business. […] You need a stable personality. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd because this is not a business where you take polls, it’s a business where you think.
This is an excerpt from Warren Buffett’s first television interview, in 1985, where he discusses timeless investment principles.
The financial market is a huge money transfer machine. It transfers money from the inpatient trader to the patient one, from the undisciplined trader to the disciplined one, from the distracted trader to the focused one, from the lazy trader to the diligent one.
2018 has already been marked by a few good rallies and corrections. You neither party nor mourn them. You just stare at them and make your moves according to your rules.
Chart of the Day
Elon Musk is Tony Stark
Video of the day
News Intake – Twitter vs CNBC
Coach T discusses the role of CNBC and Twitter when analyzing markets.
Trading Justice Podcast – ep. 281 – Monetary Policy
Episode 281 of the Trading Justice this podcast will primarily focus on monetary policy around the globe. For a topic so perplexing, we invite the “Godfather” Coach Keith King to discuss the current Global currency climate.
Coaches Lounge 11am EST
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
Halftime Report 12:30pm EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.
Coaches Show 8:30pm EST
Join your coaches every Tuesday at 8:30 PM EST for the Coaches Show, where Coaches Matt, Gino, Noah, and Tim cover the latest market movements, forex news and trades, options positions, spread trades, and specific stocks and indices as requested by Pro members like you.