A stock operator's thoughts and ideas about market principles
Stock Trader and
Economy Student
J.P. Janssen's website.The purpose of the site is to discuss ideas and principles about markets. More |
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The Special Sections Relative Sizes Quotes The Domino Effect |
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Recommended Books The Edu. of a Speculator 
Practical Speculation 
The Black Swan 
Fooled by Randomness 
Market Wizards 
Reminis. of a Stock Operator 
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Recommended Websites Daily Speculations Science Daily CIA World Factbook Project Gutenberg LibriVox |
Jul/04/2009
NYC Junto
This Thursday I attended a New York City Junto meeting. For those of you who do not know, the Junto was founded in 1985 by Victor Niederhoffer, who has ever since hosted monthly meetings for "intelligent people to discuss intellectual issues in a respectful manner."
A wonderful impression I got, is that everyone get to opportunity to present themselves and their views - and that the group truly shows interest in every individual.
Below you can read a short presentation of me (partly intended for the Junto members - as I select my words much better in writing than I did in front of the microphone.)
Me in One Sentence
I′m a finance and economic analysis grad student from Norway who is very interested in the financial markets.
Me on Speculation
I′ve been an active market participant since 2003 and have been fortunate enough to harvest some fruits from the extreme bull markets in this period - while living through the crashes without too much stress. My real dedication to markets though, comes from the way it relates to life. I mean; learning how to avoid the psychological pitfalls and gaining the insight on how to to profit from the market, yields high return in real life as well - and vice versa.
Me on Free Markets
I consider myself a skeptical libertarian. I believe that too much freedom some times is bad. The most profound example I got from my travels in the US and on Cuba. The US is in most senses a much better society, but the Cuban diet is much healthier and one can immediately spot the good health of its people. Most US citizens, I believe, would be better off by a government to tax and restrict their diets, I believe.
I still have a lot more to read and learn about life. I have for instance yet to read Atlas Shrugged.
Me on Norwegian Socialism
My home country uses a special political model, which by most standards has proved very successful. I will in a few lines try to explain why it is considered fair among the general public. In the early 19th century Norway utilized a great gift from Mother Nature. Numerous waterfalls gave us a surplus of almost free hydro power. This gave the foundation for aluminum and fertilizer production. The fair thing is to distribute this gift evenly among the public. This distribution meme is strong, and the almost universal belief in redistribution and a Welfare State is shared among Norwegians (naturally a meme grows into the rest of economic thinking too.)
Later on we also discovered oil, which made us even more blessed. I agree that redistribution works for Norway. We get lots of foreign currency which we can convert in to all kind of foreign products, from medical to consumer technology. The internal economy suffers though. My acquaintances from Easter Europe and Russia (exchange students) all complain about the poor quality of food (and low diversity) of groceries in Norway. Even going to cafes and restaurants is ridiculously expensive due to our socialistic system.
My greatest complaint on the other hand is that our system is based on the assumption of national state in itself is fair. Most Norwegians live within a couple of hundred kilometers from Sweden but a mountain and great sea is between them and the oil. Why should I - and not my Swedish cousins - get a larger part of the world′s production because of this oil?
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