Invest Without Emotions
If you do an online transfer, send a screen-shot of the transaction confirmation page to funds@stockviz.biz and the funds are made available to you immediately.
For the funds to reflect in your overnight statements, it typically takes three business days.
To bring your existing holdings over to your new account, you will need to execute what is called an “Off Market Transfer.” This will be initiated by you, with your old broker.
Once you submit the request for transfer to your old broker, it typically takes about two weeks before your positions are reflected in your new account.
Over the long term, equity returns and GDP growth per capita have been negatively correlated.
Continued from: Stock Market ≠ Economy
The Nifty ended the week -0.34% (-1.21% in USD terms.)
| MINTs | |
|---|---|
| JCI(IDN) | +4.11% |
| INMEX(MEX) | -2.95% |
| NGSEINDX(NGA) | -2.01% |
| XU030(TUR) | +0.47% |
| BRICS | |
|---|---|
| IBOV(BRA) | -3.52% |
| SHCOMP(CHN) | -2.60% |
| NIFTY(IND) | -0.34% |
| INDEXCF(RUS) | -7.61% |
| TOP40(ZAF) | -3.35% |
| INFRABEES | +10.26% |
| PSUBNKBEES | +2.75% |
| BANKBEES | +0.70% |
| GOLDBEES | +0.54% |
| JUNIORBEES | -1.36% |
| NIFTYBEES | -1.50% |
| Quality to Price | +4.12% |
| Magic Formula Investing | +3.12% |
| Growth with Moat | +1.73% |
| Market Fliers | +1.71% |
| Long Term Equity* | +0.53% |
| ADAG Mania | +0.25% |
| Enterprise Yield | +0.05% |
| Efficient Growth | -0.30% |
| Financial Strength Value | -0.37% |
| Consistent10* | -0.57% |
| Market Elephants | -1.18% |
| Balance-sheet Strength | -2.15% |
| Velocity* | -2.21% |
| Momentum 200 | -2.46% |
| IT 3rd Benchers | -3.00% |
Instead of making us happier, getting more stuff drags us down. In a new paper published in the journal Motivation and Emotion, Knox College psychology professor Tim Kasser shows, through a series of experiments spanning from six months to 12 years, that when people become more materialistic, their emotional well-being takes a dive.
The connection between our stuff and our self-esteem is a two-way street: If we become less materialistic, our well-being will improve. If our well-being improves, we tend to be less materialistic.
Source: Here’s Proof Buying More Stuff Actually Makes You Miserable
Found a paper that came out in May 2011 that studied the skill distribution of day traders in Taiwan an interesting read. Here are some excerpts.
Study period: from 1992 to 2006
Interest area: First, the authors are interested in analyzing the cross-section of speculator skill, and day traders, given their short holding period, are almost certainly speculators. Second, the signal-to-noise ratio regarding investor skill arguably is greater for day traders than for investors with longer holding periods. Finally, day traders incur substantial trading costs and receive quick feedback about their trading ability.
Shyam here: I am not sure about the second part. You cannot compare skill levels based on returns across different holding periods – apples to oranges.
In the average year, about 360,000 Taiwanese individuals engage in day trading and about 15% of these day traders earn abnormal returns net of fees. Of course, some outperformance would be expected by sheer luck. However, about 1,000 day traders (less than 1% of the total population of day traders) are able to predictably outperform.
Conclusion: The most profitable day traders are not liquidity providers, as they tend to place aggressive orders in
anticipation of price moves. The most successful are heavy day traders with a history of profits who are willing to short and who concentrate in a few stocks.
Source: The Cross-Section of Speculator Skill Evidence from Day Trading (pdf)
