From fighter pilot to K-line real-life master saga
Now, Wall Street f forexcashbackcalculatorancial turmoil East forex cashback raging, it is extraordinary times for investors, so much so that the government has intervened in the capital Eastforexcashbacks my only advice is to encounter such bleak times, go about your own business first, all you have to do is watch cashback forex wait now guess the future is not the time, in fact, investment is never about guessing the future dont worry about it! The market will handle the crisis better than the advice you read from the media or elsewhere! Internationally renowned investment guru and K-line master Gregory Morris wrote a blog on September 30, 2008 to record the violent and tragic September on Wall Street with a calm, calm mind Through this calm, calm, people seem to see him again - a pilot who once flew a fighter jet galloping through the blue sky, calmly resolving all kinds of unexpected dangerous situations, in the vast and endless sky to draw a beautiful arc! Gregory Morris, an excellent pilot, drew a wonderful career in the air, but also in the financial markets - another very different world: 35 years of time invested in the analysis of market techniques and financial software development, and finally became a globally recognized authority on candlestick analysis methods from pilots to K-line master, Morris spent most of his life writing a wonderful Morris was born in Texas in 1948 and graduated from the University of Texas at Austin in 1971, majoring in aero-engine technology. In 1975, after a rigorous professional learning, training, Morris graduated with honors, finally a dream come true, began the first love of life career --- flying fighter jets into the sky, become the master of the blue sky! Morris was fascinated by the feeling of flying in a fighter jet, flying is my first love, in the sky feels really great! After that, Morris worked for Delta Air Lines for 26 years, until he turned from a young man with a great head of hair to an old man with a great head of hair. In his opinion, the changing stock prices cashbackforexbtcre as unpredictable as the white clouds in the blue sky. There was a time when Morris kept asking himself this question 1972, Morris bought the first stock in his life, to his delight, the year he bought the stock price kept rising; however, the good times did not last long, in 1973, the world oil crisis, the United States and even the worlds economic situation is terrible, the stock market became the hardest hit, many peoples wealth evaporated overnight, Morriss stock holdings also constantly falling, falling again, by 1974, the market value of his shares had fallen by 65%! The stock market was horrible, like a demon, devouring weak investors! Morris lamented that he felt helpless, so desperate that he almost gave up on the stock market. However, the experience of flying a War Eagle and never giving up in a dangerous situation gave Gregory Morris great strength to overcome the difficulties in front of him, inspiring him to explore and conquer the K-line master in candlelight. Every Sunday morning, Morris recalls, I used a calculator and drawings to chart the average price of stocks. Morris not only used averages in his spare time in the stock market to gain a good return, and wrote these successes into the book "Candlestick Charting" which has become Morriss most famous masterpiece, and has long been high on the U.S. bestseller list in the book, Morris used the computer to identify and count the performance of the S&P 100 components and commodity CSI index in the history of different K-line patterns, with informative data to identify which K-line patterns have a high success rate, which Technical analysis indicators are most helpful in optimizing the predictive function of K-line patterns…… for technical traders, the book is undoubtedly a treasure trove of investment by the chart At the same time, Morris also obsessed with the development of financial software From 1982 to 1993, G. Morris and the famous N-Squared computer software company for a long-term cooperation, the production of His talent soon attracted the attention of another famous software company, MarketArts, and in 1993 Morris joined this company and became the first person to develop candlestick identification software. The company was merged into PMFM fund management company, 56-year-old Morris personally, as the manager for the wait of 30 years later, only to begin to manage funds as their full-time job, Morris in July this year to accept the U.S. "Business Week" interview calmly still: I do not regret at all, because let nature take its course is the best state of things! Appendix Gregory Morris: 35 years of investment essence The fifth China (International) Asset Management Conference was unveiled in Hangzhou on July 6, the theme of this conference is the important impact of asset management on the real economy, co-sponsored by Xinhua News Agency WI Holdings Limited, the China Asset Management Institute and Futures Daily, the Eastern Wealth Network full graphic live The famous American fund manager Gregory Morris attended the conference and delivered a keynote speech, the following is the transcript of the speech Gregory Morris: Thank you! I was in the United States last April with Larry, and we talked about the 5th China (International) Asset Management Conference that Mr. Yang was going to hold here. I think the market is efficient in the short term, but not the long-term trend, in addition, some people say that market returns are normally distributed, researchers know that there is no standard in modern finance, many people told me that risk is volatile, and it is determined by the standard variance, some people say that the standard variance is the number of a year, but I do not think the volatility is down and up, I put the downward trend I think a risk I give an example, using the Dow Jones index to give an example, you see this is zero, that is -20, -30, -50, the risk is to lose our assets, the market in a long period of time is down, in 1972, the market fell 40%, until 1982 did not recover we can not only fluctuate the frequency, but also see the volatility We can see not only the frequency of volatility but also the time span of volatility, it took investors a total of ten years to turn over the capital greater than 20% of the rate of decline, we call that a bear market, many years ago we had the first bear market, we use the U.S. market as an example because the U.S. market has had 100 years of data, some examples can be applied to many markets because every market is pretty much the same, has pretty much the same pattern in the 1920s during the Great Depression There was a bear market, not only at that time there was a bear market, recently there was a bear market, the market fell 20% to 30%, four years later investors turned over their money, if you go to invest in stocks or securities, in these years is a loss, it will take you years to turn over your money This chart, if I let you go to buy index stocks, then we can see that small-cap stocks rose 11.9%, large-cap stocks rose 9.8%, this trend is almost correct but there is a question, can you afford to wait 85 years? No, most people retire after 20 to 25 years, in 85 years there are actually a lot of 20 to 30 years the stock market did not go well this is a ten-year return histogram, we start from 1900, the calculation of the return of each decade, 1900 to 1909, 1909 to 1919 before we mentioned the 20% data, that is to say 43% of The return of the company is less than 8%, while 22% of the companys return is 8% to 12% Lets analyze the market, the most popular analysis method with fundamental analysis, we use the concept of multiples, you can see that 90%, or most of the fundamental analysis are used to price this factor, the price is the price you buy a certain stock, analyze the market not only the trend of dividends, we also talk about price trends we have new highs, new lows, this is all the distribution of prices we also do the analysis of market trends, we have analysis of large-cap stocks, small-cap stocks prices and relative strength analysis method, in fact, to analyze the width of the market I am always analyzing the laws of the market, I want to explain to you the laws of the market, the development of the market demand and supply, if you are a buyer of stocks is the demand side, and vice versa is supply side, you buy a stock is certainly hoping to sell to others after the stock rises, then buy without knowing others, nor do you know who is selling to you, nor do you know why to sell to you, only know that someone is selling to you, if the TV says a stock to rise, you will follow, the TV if you say this stock many people are selling, then many people will also follow the you buy stocks from others side, you do not know from where to buy, you do not know how your stock is managed, the total value you only care about the price, this is why we have to analyze the price of the stock price allows you to see the market supply at a glance, many people sell stocks at a certain price, then they are based on information from financial programs on television, they will influence peoples investment philosophy, but you still have to make your own analysis to Next Ill ask you some questions, this is a graph, is this a daily graph? Or is it a weekly chart? Or is it a 15-minute chart? You cant actually tell, is this a stock? Or is it a futures sum contract? Or is it a stock index futures? You cant tell, Im not showing the date, the price, this is a daily stock chart, Im not pointing out a specific stock we analyze the market is to analyze these data, this period of time the company announced an 18% profitability, you think 18% profitability is good or bad? You cant tell. In the United States, we have the Federal Open Market Committee, and they will issue some notices, for example, if a certain figure is reached, they will say that it is a positive or negative development. I would be very happy to see a chart like this, its 65% of the profit, but also see two downward trends, our investment team will try to avoid these bad downward trends, we decided to make a buy or sell judgment, according to the market trend, so we use some technical analysis, because we believe in this thing, we can rely on this Do you have people who are based on their own feelings and market sentiment to invest? Feelings and market sentiment to invest? If someone cant manage their emotions, they cant be successful in the investment process. Technical analysis can make our perceptions clearer and, if we use technical analysis, we will give ourselves discipline and self-discipline. One day I was driving with my wife, last summer, and we stopped in front of the old gas station, and I bought myself a candy bar, and my wife looked at me in amazement, "Why are you not disciplined at all? No, no, because you dont know how many pieces of candy I actually want to buy. I want to tell you this story, I want to tell you that if you want to make a successful investment, you must be self-disciplined, self-discipline is very important for the whole life of a person, in fact, this is a black and white relationship, you are either a self-disciplined person or not, you must be self-disciplined for a period of time. I dont want to tell you how to invest in the market, because I think there are too many factors I want to say is that at any time, our customers entrust their money to us, he must have such a psychological preparation, you are either profitable, there may be risk, this is very important our investment model is equivalent to We use the weight of evidence method as a method, we go to the market width analysis, market relative strength analysis to determine the market up or down, we use this method to determine the basic market trend, we also have a set of rules or guidelines to determine the market trend we have a very strict discipline in the whole investment process, we According to this model three legs are missing, we need to understand how the market is moving, we must understand this market law, and then we make decisions and actions This chart, may look a little bit scary, I want to explain briefly all the lines is all the evidence weighting, there are four colors, green is the best kind of trend, we can make active trading here each column actually For example, if we want to buy a certain ETF, its trend is up then we will buy this is the trend of S&P 18 years, yellow and red part, we are taking defensive investment policy, actually I mean cash to take defensive investment, we can judge the market trend is up or down according to the evidence weighting method This is a chart of the recent period, in the last week is downward red, not green, this is last weeks chart of course this is not a forecast, we never make predictions, we are only in the current situation of the market we are analyzing the market, and then according to our analysis to react, we do not make any predictions, we can buy open-end funds stocks, you can also buy futures, etc. We have strict stock selection I said we can only buy the kind of momentum index upward open-end stock funds we want to buy upward stocks, not to say to buy this kind of cheap stocks, to buy this kind of stocks that can go upward This chart has more data, I just want to tell you that we have some must-see aspects, there is a criterion called deterministic criteria, which can do more technical analysis of ETFs we will every morning We do not make future predictions, we never point out when the market will bottom or peak, we just catch the market trend, and we dont make predictions for the short term. We dont make predictions on what the market is going to be like in the short term, our rule is to go out and catch most of the good times so that we can avoid those bad times in the market We share with you the performance of the stocks in 18, our portfolio we can see this is a small cap stock, there are 16 pieces of funds with over 10% losses, on this chart is over 20% losses, there is the S&P 500, ( English) 2000, our companys investment and never more than 20% loss this is the time horizon, in a certain time horizon more than 10% loss, analyze the stock then not only analyze the degree of loss, but also analyze the time horizon in this chart, (English) 2000 there are 12 years there are 12 years more than 10% state this is the largest decline in the chart ticket, our company from the new all-time high to the all-time The lowest, we only have more than 10%, I think we can still, we need to look at the average decline in the market, analysis of this time to compare the average decline in the market, and then make a judgment To sum up, we use the weight of evidence method has a variety of market analysis factors, our companys investment strategy is based entirely on a series of rules above, we are very objective, very self-disciplined, we in the past 40 years If we look at a fund, we can see that the fund manager may tell us that the fund is doing well and has been running for 20 years, etc. Our fund managers follow certain rules and then make judgments. If there are no questions, thank you!