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Bailey McCann, Opalesque New York:
"In spite of recent failures, governments, large corporations, and the majority of the world’s capital are managed with methods based on fundamental analysis and neoclassical economics. It is hoped that the proponents of this approach will someday go the way of astrologers and witch doctors." That is a quote from a new book, Rational Investment: Why System Trading is the Only Rational Way to Invest, written by Mark I. Lee.
Lee is the Founder and Chief Investment Officer of Rational Investment Research, a niche CTA based in Singapore. Lee has been involved in the financial industry for more than 15 years, primarily as a prop trader. He recently left this role to start his own firm trading client funds using system trading strategies he developed over his career. He started working on the book during his prop trading career, working from his observations of common trading and investment behaviors. I spoke with Lee about Rational Investment Research and his new book. In the book, Lee goes after some of the long held lore of the markets held by both traders and investors, exposing their failings and, joining a chorus that ranges from Daniel Kahneman to Naseem Taleb, in calling for a more rational approach to financial markets.
"Markets are nonlinear, but often investors and traders cling to linear beliefs about market behavior, not because they are right but because that’s what they are comfortable with," Lee explains. "Hum...................... To view our full article Click here
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