MartinKronicle

Freddie Mercury would have been 65 today. He was completely original and unfathomably talented. Here is the Google Doodle tribute to him on his birthday.

“Sure, there are a lot of ‘values’ in the market now…”

Source

Victor and I are teaching another Master Class in the fall. Email me if you’re interested. Details to follow.

In the meantime, Victor wrote an article called “The Fed’s Philosopher King” for the American Spectator magazine.

“In the Communist Manifesto, Karl Marx listed ten absolute principles for overturning capitalism. Number five on his list is the most relevant when discussing the Federal Reserve: “Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.”"

It only gets better from there…

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When your portfolio heat increases too fast, too soon, you need to cut your position size(s) down to lower the overall risk to your portfolio. Else you have a Jiffy Pop portfolio…

Great corn infographic from an the article The Factors Driving Food Prices at the CME Group’s Open Markets blog that delineates things that affect corn prices and thus, portfolio heat. Above and beyond supply and demand are these 9 factors that all add up to what corn trades for on the CBOT. You can spend a lifetime studying “farmland,” for example, and what other crops compete for acreage (it’s soybeans).

You do not need a higher level of uncertainty of too many of these facets to dramatically increase your portfolio heat. When the portfolio heat rises too fast and the corn starts popping, pro traders will cut their positions fast — not because they don’t believe in the trend anymore — but because their main concern is to manage risk.