Michael Mauboussin: Think Twice, Cut Once

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This course is a broad overview and discussion of the salient subject areas that one will need to navigate to fully understand the commodity space.

Entering Orders
Common Mistakes
Rules and regulations
Markets and Exchanges

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Students will be introduced to what makes each of the commodity sectors tick from an international economic standpoint.

Grains - corn, wheat, rice
Metals - gold, silver, copper
Energies - crude oil, gas
Softs - coffee, sugar, cocoa

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This course sets the record straight about what is a predictive indicator and what is a lagging indicator in the commodity markets.

Studies in Price
Volume & Open Interest
Technical Indicators
Markets in Backwardation

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This course investigates why certain traders become great and why others blow up. Be prepared to journal extensively and learn about your strengths and weaknesses.

What You've Learned About Money
How Personality Shows Up in Trading
Ego and Self-Esteem in Trading
Self-Awareness

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Michael Mauboussin of Legg Mason is a great thinker and writer. I’ve read his newsletters for years and I’ve read all of his books. Here he is during an interview with the The New Yorker on the release of his most recent book, Think Twice.

I’ve said that emotional intelligence and self-awareness make up the majority of trading profitably. I think Mauboussin’s work speaks to that and you’d be well-advised to read as much of it as you can.

Hat tip to Barry Ritholtz.