This looks good. Similar to Systematic Trading but with more of an investing slant.
Is this practical for everyone?Since leaving the hedge fund industry I have written a live systematic trading system written in python and using the interactive brokers C++ API interfaced through swigiby, which I have traded my own money with since April 2014. The system trades nearly 40 futures markets with an average holding period of several weeks, and has a mainly trend following character.
Or does the book talk at a higher level and is more importantly understandable by mere mortals?
Trying to automate the described system and have it run automatically on your computer is possible, but is an entirely other ballgame.
His second book is much more focused on investing, and much less on trading. I didn't read it but that is my impression based on the reviews I saw about it.
- Posting a summary of the first article.
In the end, only three things matter in investing for the long term:
• The price you pay.
• When you sell.
• The risk you take.
A minor tangent if I might : What is a good book or 2 to suggest to a beginner to read?
I've got a 19 year old with about 50K in savings. She is in business school, learning about stocks and bonds and balance sheets and income statements. Has zero experience in actually investing. I can teach her the mechanics but I wanted to get her a book or 2 helping her pick sectors and stocks (or tracking funds).
I dont know where to point her. Any suggestions?