Golf Swing Guide
At the top of the golf world and seemingly at the top of his game, Woods sought another instructor and again set about changing his swing. As instructor Hank Haney explained to the Wall Street Journal ( Struggles at the Top by John Paul Newport, June 17, 2006), nothing was wrong with Woods's game. But other golfers were responding to his dominance by improving their own games and spending more time in the gym. Woods was among the first professional golfers to make fitness and athleticism important elements of his training program. He could see that other golfers were following this practice and becoming more competitive.
All the strategies within your portfolio need not be identical simply because they are established under the same trading theme. Diversification is highly recommended in all aspects of investing, including the selection of option strategies. A portfolio theme, for example, does not envision having a portfolio made up entirely of covered calls or credit spreads. There are various options strategies that share common investment themes. Each strategy may work better under certain conditions and therefore we need to understand the best environment for each one. Golfers have more than 10 clubs to choose from each time they hit the ball, and to be successful they must understand which club is best to use in different situations. The same is true with option strategies.
There are two main types of strategies, well actually three, when you combine the two. First, you can have a totally systematic strategy, which generates pure buy and sell signals that you follow to the letter. The ultimate example of a systematic strategy would be a black box programmed trading system. These are systems that are bought and generate signals without you even knowing how the system was made. The system can even be set up to automatically enter trade orders in the market so that the trader doesn't even have to be in front of a machine. The traders have little say in what happens as the orders go in despite what they think or feel. The average trader with a program like TradeStation can do the same thing. If he has a system on his computer, he can have it send orders directly to the brokerage firm while he is out golfing.
Sam, an American developer, did everything right in Boquette. He made the proper connections with the local and central government authorities, and above all he obtained clear title through a reputable law firm to some very choice real estate. There he built homes for US 200,000 to US 350,000 in a gorgeous forest setting, adding an eighteen-hole golf course. Overall, the amenities were not too different from those offered in upscale U.S. retirement communities, but they were a fraction of the cost. He sold every one of the homes to buyers who either live there, use their homes as cash-flowing properties, or have already made money reselling their appreciated real estate. In other words, Sam's experience is a success story from beginning to end.
Learn to be totally honest with yourself. For example, when you follow your instincts and it works to your favor, imprint those feelings. It's like making a perfect swing with a golf club. When you feel the groove, you must imprint it in your mind so you can repeat it. On the other hand, if you take a profit totally by accident, be able to separate this feeling from the feeling you had when you honestly followed your instincts. Accidental wins are not repeatable, but instinctual trades are. Big difference
Minsky focused on the instability in the supply of credit in a single country. Historically euphoria has often spread from one country to others through one of several different channels. The bubble in Japan in the 1980s had significant impacts on South Korea, Taiwan, and the State of Hawaii. South Korea and Taiwan were parts of the Japanese supply chain if Japan is doing well economically, its former colonies will do well. Hawaii is to Tokyo as Miami is to New York Japanese travel to Hawaii for rest and recreation in the sun. Hawaii experienced a real estate boom in the 1980s as the Japanese bought second homes and golf courses and hotels.
There are also other specialty REITs, including a movie theater REIT, two timberland REITs, an auto dealership REIT, a student housing REIT, and even a prison REIT. The unique investment characteristics and operating dynamics of these unusual property types need to be carefully considered by the investor, along with such factors as strength of management, balance sheet, growth prospects, and conflicts of interest. National Golf, a golf course REIT, experienced substantial difficulties a few years ago when the company that leased most of its properties got into financial trouble. I'm patiently waiting for the day when a cemetery REIT is organized, sold to investors on the basis of the aging of the U.S. population, the key attraction, of course, being that tenants will not be able to leave.
Think for a moment How long does a doctor, lawyer, or engineer have to go to school to learn his or her trade And that is just to be an entry-level person. Think about how long a doctor has to go to school four years for college, four years for medical school, a few more years for specific specialty, and then, what, two years of residency, then and only then to be a full-fledged doctor earning decent money. Well, what happens when the doctor goes on vacation Nothing they don't get paid. A currency trader controls his or her own future a trader can work from anywhere. Traders can be in a trade making money while at the beach or on a golf course, fishing, whatever. But you will only get out of this what you put into it. You will have to find a mentor and start learning. Some of you will pick it up faster than others, but in the end, you can make it to the next floor.
Once a skill can be performed in piecemeal fashion, it is important to integrate it into a full, simulated performance. Performance simulations for the practice of skills create opportunities for extending learning to real-time environments without incurring the losses associated with errors. Swinging the broom in his house helped Zohar Sharon develop excellent form on his golf swing, but eventually he needed to leave house and broom behind and integrate his skills to the golf course. Effective learning is accomplished by progressively approximating the conditions of actual performance.
JP I haven't traded for seven months, so it's hard for me to judge. But I am going to go back to it. But it's only a tool at the end of the day. It's like buying the best set of golf clubs. It's all very well but if you can't put the ball in the hole you may as well not play the game. Some traders have this problem. They can get the signal, but they can't pick up the phone and give the order.
When I write about this subject, I often compare fixing up houses to playing golf. In golf there's an old saying, Drive for show, putt for dough. There are thousands of strong young players who can hit the ball a mile and look very good doing it. Precision is not critical as long as the ball stays in bounds and ends up on the fairway. However, to putt the ball those last few feet to the flagstick is very critical. It takes a lot of skill to sink the ball into a very small cup. It's impossible to play winning golf unless you learn to do both drive and putt equally well.
Most investors that we know (with the exception of some staunch academician friends who actually believe in MPT), use either a combination of fundamental and technical analysis in coming up with investment picks and timing, or they use no analysis at all, relying solely on hot tips from their golfing partners.
When you next watch golf on television, note how the pro rehearses his shot, imagining what is going to happen before he physically hits the ball. The alltime great golfer, Ben Hogan, once described for Time Magazine how he mentally rehearsed each shot before he attempted it, making the shot perfectly in his imagination, feeling his back swing and follow through, exactly as it needed to be.
People get tips at parties, from the newspapers, and on TV, that glue-box of mass culture. Investment officers at slow-moving institutions may sit in a meeting all day before getting permission to buy or sell. They tend to place orders before the open. Most overnight orders come from casual investors, gamblers chasing hot tips, and brokers who want to leave work early to play golf or make marketing calls.
Trump has earned such a reputation for hiring top people, and creating quality and luxury in whatever he does, that he can now license his brand and property design and management expertise to other real estate investors. They realize the value of having a top name (in this case, Trump) associated with their development. They appreciate the marketing power it gives them. (I'll describe later in the chapter how small investors can use the same principle when hiring architects, builders, and designers.) One example of this is a project near Sao Paulo, called Villa Trump Brazil. For Trump to permit his name to be connected with this project, the land owners paid him 1 million cash up front, plus a share of the profits on anything over 45 million in sales. They intend to sell 400 building lots at 300,000 each. That's 120 million in sales right there. Except for supervision and guidance,Trump's input is minimal with no dollars in but he'll get lots of dollars out. His major contribution is...
An insightful article about legendary baseball pitcher Sandy Koufax appeared in the May, 16, 2003 issue of Investor's Business Daily. Koufax observed, As much as you can do to get the variables out of the delivery, the easier it is to repeat. That's the key to a repeated golf swing or pitching motion or batting swing .The pitcher wants to do exactly the same thing every time. Jane Leavy, author of Koufax's autobiography, noted, The hardest thing in sports is no single act, it is the replication of that act.
The surge in real estate prices and stock prices in Tokyo in the 1980s had a major impact on the real estate market in Hawaii, which is to Tokyo as Miami is to New York. Japanese tourists visit Hawaii often, many Japanese are married there. Many Japanese have bought second homes in Hawaii. Japanese real estate firms bought land in Hawaii to develop golf courses around hotels one expensive hotel property would have had to have charged 800 per room per night to cover its costs. When the boom in Tokyo ended, Hawaii entered an extended period of economic stagnation a lost decade.
The world of trading, particularly very active trading, is as similar to investing as weekend hacking on the golf course is to playing in a PGA tournament. The pros have swing coaches, physical fitness trainers, mentors, and, most importantly at their level, sports psychologists. To become a trader, you must learn the mechanics of trading, i.e., how the markets work order routing operating trading platforms selecting stocks, futures, options, etc. A good trading school gets you this far. Unfortunately, this is where most end.
Recently a high school classmate of mine, Dan, was passing through town and asked if we could play golf. Dan was always a great golfer and I had not played in months, so I hesitated at first. Realizing that the purpose of the game was to spend time together to renew an old friendship, rather than compete in a round of golf, I agreed to play.
Bill's hobby is trading stocks when it is too inclement to play golf, and he is an experienced trader. He liked Big Lots and watched the stock for months. When a broker announced the upgrade in February, that boosted his confidence in the stock. The stock continued climbing. In May-June, on the weekly scale, a horn top appeared, suggesting a trend reversal. That worried Bill. He drew a trend line along the minor lows and the day after price closed below the trend line, he sold and received a fill at 24. He made 58 on the trade and spent the money on a set of shiny new golf clubs.
A LIQUID ASSET or investment is one that has a generally accepted value and a market where it can be sold easily and quickly at little or no discount to that value. Direct investment in real estate, whether it be a golf course in California or a skyscraper in Manhattan, is not liquid. A qualified buyer must be found, and even then, the value is not clearly established. Most publicly traded stocks are liquid. REITs are real estate-related investments that enjoy the benefit of a common stock's liquidity.
The only rule in the FX market is that there are no rales. Want to short with impunity to mercilessly drive down the value of the currency Go right ahead. No artificial uptick sale rales will ever stop you. Your next-door neighbor's cousin overheard on the golf course that the Federal Reserve will announce a surprise rate hike next week Feel free to empty out your bank account and load up on the trade. No one will come after you if you are proven right. In the FX market there is no such thing as insider trading. In fact, key European economic data such as German unemployment figures are often leaked to the press before their official release dates.
Following a frustrating day in the market, and an even more frustrating day at the golf course yesterday, I was looking forward to the market open today. I really liked the strong showing the Nasdaq had yesterday. My strategy for today is to manage my open position in AMD I effectively. I also wrote some intraday support and resistance levels for the stocks in my Constant watch list, I am looking to enter long positions in some of these stocks should they show continued strength. Sipping my cup of coffee, I was making my way upstairs to my trading desk preparing myself for today's battle.
Many new developments that rely on a golf course, ski resort, shopping mall, or other attractions for value can tank quickly if the attraction closes, is becoming run down, or isn't as great as it was predicted to be. Be especially careful of the risk if the attraction hasn't yet been completed, such as a new country club.
Rich dad went on to explain his reasons for starting Mike out in the I quadrant, rather than the B or E quadrant. He said, Since the objective of the rich is to have your money work for you so you don't have to work, why not start where you want to wind up. He went on to explain why he encouraged Mike and me to play golf when we were 10 years old. He said, Golf is a game you can play all your life. Football is a game you can play for only a few years. So why not start with the game you will end with Of course I had not listened to him. Mike continued playing golf and I went on to baseball, football, and rugby. I was not very good at any of them, but I loved the games and I am glad I played them. Fifteen years after starting to play golf and beginning to invest, Mike was now a great golfer, had a substantial investment portfolio, and had years more investment experience than I did. At 25, I was just beginning to learn the basics of the game of golf and the game of investing. I make...
While the money is important, it is not the primary motivating factor for building a business. I think the question can best be answered by asking the same question in another way. The question asked is similar to asking a golfer, Why do you keep playing golf The answer is found in the spirit of the game.
Say that politicians want to target the golf industry for intervention because they maintain that golf should be free for all to participate in and that a law must be passed to make it accessible to all, especially those people who can't afford to play. So to remedy the situation, the following law is enacted Law 67590305598002 declares that from this day forward, all golf courses that operate must charge only one dollar for any golfer who chooses to participate. That law sounds great to any golfer. But what are the unintended effects when such a law becomes reality Many people agree with the sentiment of the law, but what about the cause-and-effect aspects of it Obviously, all things being equal, golf courses will be forced to close. Staying in business is uneconomical if their costs are higher than their income. If they can't charge any more than a dollar, how can they possibly stay open Ultimately (and ironically), no one can play golf.
By now, you already know how to be a consistent winner in the stock market. My strategy is simple, yet very sophisticated. The key is your willingness to follow the system and invest in the stock market only when the odds are with you. You will need to accept it that friends may tease you when you tell them you have been sitting on the sidelines, knowing they are in and are making money. Remember, most of your friends will be losers in the stock market because they are following The Trivial Many. When they tell you that you are a dinosaur, remember the story about my one-day golfing experience with the accountant.
The stereotype of the corporate finance department is stuffy, arrogant (white and male) MBAs who frequent golf courses and talk on cell-phones nonstop. While this is increasingly less true, corporate finance remains the most white-shoe department in the typical investment bank. The atmosphere in corporate finance is, unlike that in sales and trading, often quiet and reserved. Junior bankers sit separated by cubicles, quietly crunching numbers.
Peter Steidlmayer*, the well-known trader and market analyst, has made a nice analogy between futures trading and golf. Golf players -and spectators -are familiar with the phenomenon of the golfer who is unbeatable from tee to green, but falls to pieces when it comes to putting. What happens is that on the green, the subject is assailed by fear of failure.
Most investors would rather not spend their spare time managing their own portfolios when they could be playing golf, taking the kids to a baseball game, or gardening. Not too many years ago, however, individual investors had no alternative, since it was difficult to find a broker who knew much about REITs. Today, such brokers are easy to find. REITs are continuing to grow in popularity. Now you read about them in personal finance magazines and the business section of major newspapers, and most major brokerages employ one or more good REIT analysts. You should have no problem finding at least one REIT-knowledgeable registered representative in any good-sized brokerage office.
It probably has little to nothing to do with me (or the individual in question). My desk has really come a long way in the last few years publicly chastising or berating someone is much less tolerated. With regard to being one of the few women in fixed income, my firm is a very family-oriented place and with few exceptions, most of my male colleagues are not pigs. Don t get me wrong, there are times I shrug and roll my eyes at some of the things I hear people say. Quite honestly, though, people on the Street want to make money and if you can contribute to the bottom line, you will be accepted. I would add though that it helps if you like sports and play golf because it gives you something additional to discuss with your male colleagues. On a related note, most of my customers are male and dealing with them at times can be trickier than dealing with my colleagues on the desk. I have had a few men say inappropriate things to me but I really just do my best to shrug it off and move on.
My personal observation (witnessed many, many times) is that somewhere between 11 30 and 1pm (usually earlier, but sometime later when there has been a strong trending day) the market will turn around a little bit and then go into a consolidation pattern. Usually for the rest of the day (before the Asians start it up again) you'll see a consolidation pattern (often fairly tight within 30 pips or so). This basically happens because the European bankers start packing up for the day, and who knows maybe American bankers go golfing in the afternoon (just kidding, well, maybe). Bottom line is that typically there isn't much trading pressure happening after noon EST.
In early 1998, the Clinton administration proposed legislation as part of its fiscal 1999 budget that would affect certain REITs. One of the proposals, since enacted into law, targeted those REITs that had the ability to engage in certain non-real estate activities (such as hotel and golf course management) through a sister corporation ( paired-share REITs). This law directly affected four REITs by preventing them from operating businesses that generate income that doesn't qualify under the REIT laws, but only with respect to new properties or businesses acquired. While this new law had a major impact on the paired-share REITs, it had no effect on the rest of the REIT industry.
Traders gain this ability by years of hard work. The notion that a trader can trade for one or two hours a day and play golf the rest of the day sounds nice, but if a trader really wants to be consistent over time, he needs to dedicate himself to his progress. The idea is not to become a part of the market, but rather to let the market become a part of you. Once the market is inside you, you will gain that feeling that is needed to change with the markets. Getting to this point takes many years to do so and it is a process that never ends due to the dynamic nature of the market.
The economy, one of the so-called Asian tigers, had been growing at more than 8 percent a year, giving the nation an air of hope, satisfaction, and strong development. Skyscrapers were being built and golf courses laid out, and a rising middle class was eagerly spending baht the nation's currency for luxury goods and automobiles. Property values rose rapidly.
If you were playing golf with Tiger Woods, would you give him a three-stroke advantage Of course not. If you were crossing the Atlantic in a sailboat, would you leave your compass behind Never. Would you start on a cross-country car trip without seeing how much gas is in the tank Certainly not. Would you try to interpret the action of the stock market without knowing the volume I hope not. When the stock market closes for the day, two pieces of information are all that remains price and volume. Every decision, every whim, every rumor, every announcement, and every merger has been evaluated and distilled to just those two basic data. Why would anyone choose to ignore half the available information When you compete in the stock market you are up against the best in the business. It is like playing golf against Tiger Woods. You are going to need every advantage available to you. When you navigate your way through the ripples, waves, and tides of price swings, you will need a good compass...
Golf Basics For Newbies
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