I picked this up in Tesco and was intrigued because the tagline at the top said ‘The life of Britain’s most decorated Cold War Spy and Head of MI6, Sir Maurice Oldfield’ and from reading the back it seemed that he was a pretty important player in UK Foreign Policy and he had been involved in things like the Cuban Missile Crisis and is believed to have helped keep Britain out of the Vietnam War. He was also influential with the Thatcher government and I was a bit surprised that I had not really heard of him although I suppose by the very nature of a Spy Chief he would not have had a hugely public profile but it appears that he was actually the first Head of MI6 to be ‘outed’ (in more ways that one as you will see if you read the book !!) and widely known to the Public with some unintended appearances in Daily Tabloids. I guess I was simply too young.
This is a book I finished reading many Weeks ago but I have not had a chance to write anything about it before now and shove it in the Bookshop. So finally I have got around to it and you should be able to find both the Book and the Film in the ‘Non-Finance Books’ page.
You may have seen (or at least heard of) the recent film based on this Book and it is about a US Navy Seal who was the Special Forces Sniper with the most Kills in US history - taking the record off some guy in the Vietnam War (as an aside, I am sure I saw something on TV recently which was saying that a Finnish Bloke actually has the outright record from when the Russians invaded Finland in World War 2 - he used to hide in the snow and stuff).
WARNING - PARTS OF THIS BLOG CONCERN SOME PRETTY NASTY STUFF ABOUT US AIRMEN WHO WERE CAPTURED BY THE JAPANESE ENEMY DURING WW2 - PLEASE BEAR THIS IN MIND IF YOU WOULD BE TROUBLED/OFFENDED BY THIS.
My luck with Books never ceases to amaze me. As you can probably see from my Bookshop pages, I get through quite a few Books (although of course I never read them as fast as I would like !!) and my ‘Hit Rate’ of getting good reads is miraculously high. Of the recent tomes I have ploughed through, I would say for every 10 decent ones I get about 1 duffer - that’s an unbelievable record and I guess I am due a lot of crappy ones soon !!
This one caught me right from the off. By that I mean that a few months ago I was coming back from the local Garden Centre and on the way I rolled into the Charity Shop Hospice place which is literally around the corner from Wheelie Towers as I had not been sniffing around there for some time. It is a bit of a Warehouse jobbie really and there are constantly people rocking up to deliver Furniture in particular and an equally steady stream of people who have clearly bought Furniture there - it amazes me how busy it is. Anyway, amongst all the Sofas, Beds, Tables, Assorted Kitchen Appliances, Chairs, Tableware Sets, Clothes etc. etc. there are several areas of the ‘Shop’ that have Bookcases that are usually pretty full (clearly people who live in this end of Windsor don’t tend to be strong on reading !!).
My mate Michael (@vilage_idoit on the Tweets) has done me a huge favour and offered up this great piece of writing to help me out at a time when I am struggling to produce Blogs for the Website because of my ever dragging on Health aggravation. It is very relevant to the current unpleasant Markets we are all suffering and well worth reading.
Big THANKS mate, WD
This is the Second Part of a 3 Blog Series produced by @vilage_idoit with a focus on Short Term Trading and how to make Money consistently from those Junky AIM Stocks that we all know and hate. If you haven’t read Part 1 then you can find it here, where you will also find a summary of Michael‘s experience and capabilities:
This Part really starts to get into the ‘Nuts & Bolts’ of how he does things and once again a huge THANK YOU to Michael for providing this excellent text.
Even if you have very blunt Eyes, you should have noticed that this is Part 3 of a Blog Series and if you would like to read the other 2 Parts first (which of course is what I would suggest you do !!), then you can find them at these links:
Chapter 15 is ‘Digital Dangers’ and goes on about the problems that easy access to Trading Platforms and Bulletin Boards and Social Media etc. can create for you. The message is to understand the drawbacks of such Tools (they can have benefits but these are easily swamped by the downsides) and to be fully in control and not let them take your life over etc. Above all when using any Online Platform it is vital to avoid ‘Noise’ and to be very disciplined about what you are reading and exposing yourself to - it is far too easy to get influenced by stuff that you really should not be reading anyway, and of course you can waste immense amounts of time which you could be using in far more effective ways. Stay disciplined and ‘Cut out the Noise’.
In this Blog Series I am reviewing Robbie Burns, The Naked Trader’s, latest Book, ‘Trade like a Shark’. To try to bring this to life I have gone through the Book picking out some important chunks of Text and then giving my view of what it says and what makes it significant. If you want a copy of the Book you can find it in ‘Wheelie’s Bookshop’ and you can find Part 1 of the Blogs here:
Chapter 4 is about ‘Trading in Down Markets’ and Robbie particularly talks about Shorting Indexes as a Hedge:
‘The same is needed in trading. If you run it as a business you need to use all the tools at your disposal. And that should include shorting. When Shares tumble, selling up is very costly. Shorting allows you to hold onto your shares, waiting for the turnaround, while making money from the markets going down.’
You know I won’t be arguing with that !! The Book has quite a bit on this and of course it is worth bearing in mind that recently the FTSE100 has not been so useful as a Hedge due to how it moves with the gyrations of the Pound since Brexit and its uneven Weighting which gives the Top 10 Stocks considerable force over how the Index moves. Regular Readers will know that I talk about this sort of thing quite a bit in my Weekend Blogs.
Over the last few Months I have read Robbie Burns, The Naked Trader’s, latest Book ‘Trade like a Shark’ several times. This is supposed to be Robbie’s take on the Psychology of Trading/Investing and to a large extent it is precisely this - although I would add that it is much, much, more than just that.
The first time I read ‘Shark’ I must have thought it was pretty good - otherwise I would not have bothered to read it twice. In fact, I simply can’t remember my initial thoughts but after reading it a second time I was very much of the view that this Book was really something quite special, and I would go so far as to say this is the best thing Robbie has yet written.
Normally after reading a Book that I think is significant I will produce a Review of it and shove that with a Link to the Book on ‘Wheelie’s Bookshop’ page; but this time I felt this Book was so excellent it deserved more than that and the structure that fortunately came to my mind was to go through the Book for a third time and to use a Highlighter Pen (once I had actually remembered to buy the rather essential item from Tesco) to mark the bits of text that really stood out to me and then I would type them into a Blog and put some comments with my own view of the point the text was making.
Some time ago a Reader emailed me with some Questions about how I learned to muck about with Charts and I have reproduced much of it here and added a lot to it. Apologies to that Reader if I did not ask your Permission to do this but I have been very careful to remove any references that might give away your Identity and you seem like a reasonable Chap so I am sure you will be happy that I share this around. And I am confident you will appreciate the improvements I have made to that original text !!
If you have not already read Parts 1 and 2 of this Blog Series (or if your Goldfish Brain needs to swim around the Bowl again……) then you can read them at these links:
We often hear about ‘Dopamine’ but chances are we don’t really appreciate the mechanism around this inside our Brains. The TV Programme went into this and explained about how when we have an enjoyable experience and get excitement and pleasure, we get a hit of the chemical Dopamine as a natural response. I think the Dopamine gives the pleasure and makes us feel happy and it is the Brain’s way developed over eons by evolution to encourage Human’s to behave in certain ways and to follow certain pre-programmed behaviours. Obviously it is in the interest of the Human Species for individual Humans to want to have babies so the Dopamine is provided when we do activities which lead to this outcome !! (calm down you lot).
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