Strategies

I now hedge VXX with a VXZ position or solely shorting VXZ, depending on the VIX term structure.

Investing is a zero sum game and a poker lesson applies to short-term trading: if you don't know who the sucker is at the table, it is probably you.

As this model aims to capture trends and needs to avoid invoking the pattern day trader rule, it is difficult for the model to perform well in choppy markets as 2011 was.

It's all about Europe getting its act together and corporate earnings.

Skip the canvases and go to the trend driving returns: the rise of the global nouveau riche.

Historically, excessive greed sets the stage for losses, and excessive fear sets the stage for outsized gains. And the fear is here.

2011 was not the best year I have had.

Europe and Asia will continue to slow down, and I expect Europe will enter an 18 month recession.