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Book: 20250726 to 20250924, "Reminiscences of a Stock Operator" by Edwin Lefevre

20250726 - Chapter I - 3 This half fictional story is about  Jesse Lauriston Livermore，1877 - 1940. The price changes have pattern, but occasionally break the pattern, and the abnormality may last for quite long time. That make the stock traders go broke. 20250726 - Chapter II – 14 ......but the fact remains that in A.R. Fullerton's office the tape always talked ancient history to me. p14 It was full of cheating and violence back to early 20th century. Latency(information gap) caused by technology disadvantage is also a big obstacle for normal people. That information gap is much narrower now, which means modern society is more fair and more friendly to normal people. Unfortunately modern society also has more traps than before, such as all types of screen. 20250726 - Chapter III – 27 20250726 - Chapter IV – 35 When you know what not to do in order not to lose money, you begin to learn what to do in order to win. p44 I doubt it. In different situation, same strategy may stop workin...
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Book: 20250617 to 20250917, "The Sovereign Individual" by James Dale Davidson and Lord William Rees-Mogg

20250617 - Preface Yes this book missed China. It missed that the competition between democracy and dictatorship will not end so quickly, because dictatorship has its own advantages. Computers and internet will push both side to extreme. What will happen? What's the role of AI in information society. 20250621 - Chapter 1: The Transition of the Year 2000: The Fourth Stage of Human Society (In information societies,) It will prove difficult or impossible to preserve many contemporary institutions in the new millennium. p17 Government is getting bigger in the past 27 years, through money printing(unanchered government debt). Genius will be unleashed, freed from both the oppression of government and the drags of racial and ethnic prejudice. p18 Roughly correct. In the future, when most wealth can be earned anywhere, and even spent anywhere, governments that attempt to charge too much as the price of domicile will merely drive away their best customers. p21 Yes and No. Many governments ...
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Book: 20250703 to 20250815, "The Innovator's Dilemma" by Clayton M. Christensen

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20250705 - Introduction Products based on disruptive technologies are typically cheaper, simpler, smaller, and, frequently, more convenient to use. p xix Not in early stage. How to recognize the potential of a new product? Based on physics? First, disruptive products are simpler and cheaper; they generally promise lower margins, not greater profits. Second, disruptive technologies typically are first commercialized in emerging or insignificant markets. And third, leading firms’ most profitable customers generally don’t want, and indeed initially can’t use, products based on disruptive technologies. By and large, a disruptive technology is initially embraced by the least profitable customers in a market. Hence, most companies with a practiced discipline of listening to their best customers and identifying new products that promise greater profitability and growth are rarely able to build a case for investing in disruptive technologies until it is too late.  p xxi While managers may ...
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Book: 20250623 to 20250717, "What I Learned Losing a Million Dollars" by Jim Paul, Brendan Moynihan

20250623 - Forword Successful trading is not about discovering a great strategy for making money but rather a matter of learning how to lose. p viii 20250623 - PART ONE Reminiscences of a Trader - 1 Personalizing successes sets people up for disastrous failure. p3 There is no bad guy, although some people do bad things. It's same to say that there is no "successful people, only people won a number of times". 20250623 - From Hunger - 5 20250623 - To the Real World - 11 20250623 - Wood That I Would Trade - 32 20250623 - Spectacular Speculator - 40 Jim Paul was very smart and lucky, but not wise. Is his loss partly due to lack of knowledge of statistics? What I can learn from it? 1. I could be wrong. Quite possible. 2. Never all in. 3. I don't really know what's going on. Everything I know is my imagination. Some of them are right, and some of them are wrong. No matter how smart I am, no matter how many books I read. 20250630 - The Quest - 59 Learning how not to lose...
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Book: 20250528 to 20250715, "Emergency" by Neil Strauss

20250528 - pt. 1. Orientation The political philosopher Francis Fukuyama......in his 1989 essay "The End of History." p29 What a joke. And with great power comes great fear of losing it. p36 Am I feared of losing, let's say, half of my asset? 20250530 - pt. 2. Five steps This is how hatred is created: two different groups, each insisting they're on the moral high ground. p53 We need an objective standards to measure it, such as median income. Rather than illusory justice or morality. Anything that improve median income, most likely to be right. "A prudent man foreseeth the evil, and hideth himself; but the simple pass on, and are punished." p62 "It's a false sense of security" p68 The most common mistake, I reckon. "A lot of people didn't think things would get any worse, " she answered. "And by that point, it was harder for Jews to leave." p71 Wishful thinking. It's like share price. We never know how high or how lo...
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Book: 20250602 to 20250625, "Die With Zero" by Bill Perkins

20250603 - 1 Optimize Your Life No, you cannot get me to work two hours just to buy that shirt! p11 It's natural to be thrifty if income is low. Many psychological studies have shown that spending money on experience makes us happier than spending money on things. p13 Why? It force us to pay attention to the moment. If we can pay attention to the moment all the time, then we stop living on autopilot. From big data training point of view, that means we will not treat daily activities as noise but real data. 20250604 - 2 Invest in Experiences The main idea here is that your life is the sum of your experiences. p22 It's wrong. Based on the book "Think, fast and slow", we only remember the peak points and the end. So we should not pay much attention to general experiences. I realized that you retire on your memories. p23 This is against "live in the moment", which doesn't rely on our memories. We don't need great memory to stay happy after retirement. By...
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Book: 20250315 to 20250615, "How to talk to anyone" by Leil Lowndes

20250314 - Preface: Having It All Communication skills are very important. But itself alone doesn't guarantee success. Far from it. Acting in drama in college play could help a lot. We can learn how to observe others and ourselves, and how to present to people what you want to show them. 20250315 - Part 1: You Only Have Ten Seconds To Show You’re a Somebody The way you look and the way you move is more than 80 per cent of someone's first impression of you. Not one word need be spoken. p3 Correct! However, although the first 10 seconds is important, it's not critical. It just make things much eaiser. 20250315 - Chapter 1: The Flooding Smile Wait for a split of a second, to one second, before starting to smile. 20250315 - Chapter 2: Sticky Eyes 20250315 - Chapter 3: Epoxy Eyes 20250315 - Chapter 4: Hang by Your Teeth "Great posture, a heads-up look, a confident smile, and a direct gaze." The ideal image for somebody who's a Somebody. p19 20250315 - Chapter 5: Th...
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