When I’ve got a position on that’s too big or out of step with the market, I get chills in my lower back. Our bodies know more than we give them credit for.

The irritating thing is that this guy, and to some extent, his entire generation, really do think that they're the victims in all this, the people getting screwed. When literally no generation in the history of this planet has ever been treated as well on a relative basis.

Most traders try to change their behavior by trying to increase willpower. Push harder. Focus more. Be more disciplined. But it often doesn't work. If you look at Ohm's Law from electrical engineering, behavior doesn’t come from force alone. (thanks to a client w this background who used the analogy). It comes from the interaction between force and resistance. Ohm's law says voltage drives current. And it also says resistance determines how much actually flows. Translated into trading: Your willpower is the voltage. Your execution is the current. Your internal conditioning is the resistance. So...if resistance is high, increasing willpower doesn’t create smooth execution. It creates internal pressure. That pressure can show up in many ways: > Overtrading > Hesitation > Forcing trades > Deviating from your plan > Emotional exhaustion You feel like you’re trying harder… but getting worse results. Why? Because resistance isn’t simply a mindset problem. It’s also a nervous system problem. It’s built from: ** Fear of loss or 'I'm not enough' ** Need to prove something ** Lack of satisfaction in life ** Past emotional experiences around money ** Dopamine-driven habit loops ** Stress physiology (cortisol, adrenaline) When those are active, your system is not optimized for execution. It’s optimized for protection. So you push harder. And the nervous system pushes back. That’s why willpower alone doesn’t create sustainable change. It increases voltage in a system full of resistance. The real work is different, and this where skilled coaching comes in: You don’t force better behavior. Instead, you reduce resistance. That means: - Building awareness of your Inner Market in real time - Regulating your nervous system under pressure - Unwinding unconscious emotional drivers - Creating structural risk management so you’re not relying on discipline in the moment When resistance drops, something shifts. Execution starts to flow. Not because you’re trying harder… but because there’s less in the way. That’s the paradox... Sustainable discipline isn’t about pushing more. It’s about removing what’s blocking you. If this post is helpful, R/T, follow, like, and BOOKMARK this post. #tradingmindset #tradingpsychology $ES_F $NQ_F $QQQ $SPY

"2027 is going to be really, really challenging for the stock market."

There are a legion of posters now putting out AI quant trading models. Most are crap. Here’s a quote from this post: “Betting Against Beta, a classic from every textbook: minus 7.78% a year while the market rose 14.86%. A corpse.” Of course I can’t find how it’s constructed or what period he’s referring to (or what paper he claims to base this design on). Welp… There is no period starting from today and looking back any decent amount of time that has BAB significantly down (available on our website). It’s been flattish in the USA for a bit but still good global ex USA. Its long-term record is still great. The chief challenge to BAB comes from Robert Novy-Marx where he says it’s empirically subsumed by the profitablity. This is an interesting debate (we still prefer a portfolio of both, partially as the economic story for BAB is better than the one for profitability). Again, economics not just AI. Economics with AI can be super powerful. AI w/o economics, or any understanding of the literature, in a “small data” problem like investing *at all by high frequencies) is a recipe for silliness. Like the post below. I suspect what has happened here is a mistake I’ve pointed out in other papers. The BAB factor needs a hedge ratio. You short less than you long as the shorts are (this is the point) much higher beta. If you do it dollar neutral you are running a very short the market position, and not doing the BAB factor as anyone serious has learned in the large literature. Thus in a bull market you wrongly think it stinks. Or they just did it all wrong in some other way. They don’t explain a lot. This is why AI in the hands of people who don’t know economics, haven’t read the literature, etc., is handing a nuclear weapon to those who should only have a butter knife if they pass a test and get a license. And it’s why I think these people are suppliers not consumers of alpha for the foreseeable future. One day that may change. Hopefully whoever takes over for me at AQR in my coming dotage (not for a while!) can deal with that. Oh, and “corpse.” Rude as well as wrong. Cool graphics though.

Unpopular opinion; No one - literally not a soul - actually enjoys the taste of beer. Not a single human. Those who claim to enjoy beer, don’t actually. It’s really just a social ritual, a form of self deception… the impact of decades of stacked marketing to convince you that beer is anything but an alcohol delivery mechanism. You can enjoy getting sloshed. You can enjoy the social liberation that alcohol offers. You can enjoy the party. But don’t act like you actually like the taste of beer. You don’t. You might think you do. But you don’t. Because it tastes like it looks: bitter dehydrated piss, with bubbles. In the case of Guinness, like diarrhea, with bubbles. And you know it.

BREAKING: Palantir, $PLTR, CTO has said that some AI researchers are taking up smoking because they expect AI to cure cancer

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