"2. Trade Like a Wizened Mercenary Soldier: We must fight on the winning side, not on the side we may believe to be correct economically..."

After shredding the weak sauce of Krugman-worshiping journos in a recent rant, it’s only fair to give some credit: Tom Stevenson of the UK Telegraph puts together a solid macro case for a bottoming US dollar. The piece, “After a decade of decline, it’s time for the dollar to...

"Homeostasis, remember, doesn’t distinguish between what you would call change for the better and change for the worse. It resists all change..."

Thoughts on weird macro... Mike vs Knish: Who to manage your money?... the problem with grinding... gearing up for the Bellagio "big game"... and more...

Not being a hero means less glory, but ultimately more profit, because if you wait for the optimal moment (which is almost never the initial turning point), you can more effectively scale up and put leverage to work in your favor...