Please note that index links point to page beginnings from the print edition. Locations are approximate in e-readers, and you may need to page down one or more times after clicking or tapping a link to get to the indexed material.
Academia, Wall Street and, 3–7
Actions, emotions and, 94, 96, 224–225
Adaptive markets hypothesis, 67
Advanced workshop lectures
fractal geometry playing market mind, 147–167
mark-to-market emotions, 121–134
mental capital and psychological leverage, 111–120
regret theory, greed and, 135–145
Against the Gods (Bernstein), 12
Alcmaeon, 34
Allen, Paul, 17
Ambient building blocks, 82–83
Ambient reality, 73–80
Ambiguity aversion, 14
Angelides, Phil, 96
Anger
frustration turning into, 128–129, 132
turning into meltdown, 128–129
as one of five basic emotions, 126
role of, 37
Anthropomorphizing, 66–67
Anticipation
of feelings, 228
of regret, 142–144
Anxiety
on FAD spectrum, 127–128
Approach, 127
Aristotle, 34
Army, intuition and, 198–199
The Ascent of Money (Ferguson), 139
asset allocation, Markowitz’s concept of, 27–28
Athletes, market, 115–117
Attentive deliberation, 200
Auctions, 69–71
August 2007 market swings, probability of, 12
Avoidance, 127
Barge, John, 150
Barrett, Lisa Feldman, 74, 122
Battle training, 195
Bear Stearns
demise of, 68
in March 2008, 25
Tannin of, 13
Beauty contests, winning, 53–56
Behavior
collective, relationship with, 162
emotions and, 36
pattern recognition of, 63
Behavioral economics, 35, 94–95, 122
Behavioral finance executive class, 55
Beliefs
confidence and, 38
as curator, 85–86
emotions, feelings and, 84–86
mortgages and, 31
risk and, 31
water-skiing example, 46–48
Berlin, Heather, 85–86
Betting, human choice and, 24–25
“Beyond the Pleasure Principle” (Freud), 153
Bicycle accident, influence of, 205–215, 217–221
BIKB. See But I know better
Bilal, Dania, 134
Bin Laden, Osama, 180
Biopsychology, 5–6
Blade Runner, 92–93
blink (Gladwell), 121
Blocked fractals, 190–193
Body
in body-mind-brain reality, 177–178, 199
emotions felt in, 38–39, 124–126
Bottom-up emotion generation, 180
Brain. See also Unconscious brain
arithmetic and, 73–74
in body-mind-brain reality, 177–178, 199
building process of, 163–164
cells, 17–19
“jigsaw puzzle” mode of, 78–79
language and, 74
wiring by firing, 161
Bruguier, Antoine, 63
Buffett, Jimmy, 132
Building blocks, ambient and situational, 82–83
But I know better (BIKB), 128–129, 163, 228
Buyers, perception by, 57–58
Call and raise, 25–26
Captain Kirk, 93
Carey, Benedict, 198
Caveats, of early quants, 21–32
CDO. See Collateralized debt obligation
Celebration, 229
Children, acting out, 96
“Christopher Smith,” 46, 49, 105–109, 172–173, 199–200, 214–215, 233
Circuit, uncertainty, 77–78
Circumstantial reality, 73–80
Classic decision theory, 77
Cognitive revolution, 36
Cohen, Stevie, 65
Collateralized debt obligation (CDO), 179
Collective human behavior, relationship with, 162
Colors, trading, 89
Communication, global, 15
Complex decisions, non-deliberate, 200
Compulsion to repeat, 151, 153–154, 163–164
Confidence
belief and, 38
context influencing, 86
Consciousness, perceiving and, 86–89
Context. See also Emotional context; Feeling context; Fractal-emotional context
building blocks, 82–83
confidence influenced by, 86
diagram, 227
of dice, 78
external, 82–84
of facts, 75
of fear, 38
internal, 82–84
of judgment, 38
leverage of, 179–182
of mark-to-market emotions, 122–124, 126–129
mental capital and, 227
of numbers, 27
of perception, 68
principle, 75
qualitative, 61
of quantitative analyses, 59–60
reality and, 75–80
role of, 179–181
social, 179–181
of uncertainty, 76–80
of vision, 87–89
Contingent reality, 73–80
Controlling your emotions (CYE), 48, 92–94, 97–98, 118, 165
Coup d’État Capital. See also Monthly workshops
“Michael Kelley” at, 109–115, 205–215, 217–222, 231–233
Monaco pitch by, 231–234
psychological leverage for, 175–176
rise of, 171–173
training manual, 223
Credit default swaps, 114
Curator, beliefs as, 85–86
CYE. See Controlling your emotions
Data
emotions as, 40, 95–96, 121, 124–126, 130, 136, 188, 226
fear as, 136
self-data, 125–126
tortured, 30
Dealing with uncertainty, new hire training for, 53–72
Debt, downgraded, 82
Decision making
classic theory of, 77
experience influencing, 199
non-deliberate complex, 200
physical game of, 176–178
Defense mechanisms, 194
Deliberation without attention, 200
Descartes, Rene, 34
Descartes’ Error (Damasio), 38
Dice
context of, 78
risk illustrated by, 24
Discipline, best moments for invoking, 129–130
Diversification, 70
Dollars per day, 182–183
Doubt, on FAD spectrum, 127–128
Dreams, record of, 188
Early quants, caveats of, 21–32
Earthquake, Japanese, 16
eC. See Emotional context
Echoes, 152–153
Economics
neuroeconomics, 39–41
of uncertainty, 28
Ego, 235
Electrical counting machine, 19
Embodied-embedded model, 74–75
Emotion(s). See also specific emotions
behavior and, 36
beliefs and, 84–86
bicycle accident and, 205–215, 217–221
bottom-up generation, 180
control of, 48, 92–94, 97–98, 118, 165
as data, 40, 95–96, 121, 124–126, 130, 136, 188, 226
in decision making, 38–41, 122
entertainment and, 92–93
fear of, 126
five basic, 126–127
fractals of, 154–156
future, 129–130
importance of, 39–42
knowing, 97–98
leaning into, 191–193
meaning made by, 50–51
memory influenced by, 123
in models, 49–50
neuroemotion, 39–41
non-consciously perceived stimuli of, 159
perception influenced by, 97–98
philosophers on, 36
as signals, 118–119
top-down generation, 180
traders embracing, 134
vision and, 87–89
Emotional architectures, 152–153
Emotional context (eC). See also Feeling context; Fractal-emotional context
defined, 113
diagram, 227
importance of, 122
irrational behavior explained by, 95
predictability of, 123
recovery and, 224–226
in risk management, 96–100, 122–124, 126–129
role of, 179–181
traders and, 99–100
of vision, 87–89
Emotional templates, 152–153
Energy
models and, 178
perception and, 114
physical, 113–114, 116, 177–179
Entertainment, emotion and, 92–93
Entries, missed, 144
Exercise, 177–178
Exits, difficulty of, 190
Expectations, 11
Expected value, 58
Experience
decision making influenced by, 199
value of, 106–108
Experiential knowledge
defined, 197–199
fractal fuel v., 200–201
impulse and, 197–203
“Exploring the Nature of ‘Trader Intuition’” (Bruguier), 63
The Expression of the Emotions in Man and Animals (Darwin), 37
External context, 82–84
Facts
context of, 75
perception and, 56–58
FAD spectrum. See Fear, anxiety, and doubt spectrum
Fat tails, of curves, 49
“Michael Kelley’s,” 3–4, 171–172, 218–222
relationships with, 3–4, 159–160, 171–172, 218–222
“Renee Smith’s,” 46, 49, 105–109, 172–173, 199–200, 214–215, 233
fC. See Feeling context
Fear
context of, 38
as data, 136
of emotions, 126
FOMO, 75, 127, 132, 138–144, 211
turning into frustration, 128–129, 132, 142
meltdown from, 128–129
as one of five basic emotions, 126
spectrum of, 127–128
Fear, anxiety, and doubt (FAD) spectrum, 127–128
Fear of missing out (FOMO), 75, 127, 132, 138–144, 211
Feature-function assumptions, 74
F-eC. See Fractal-emotional context
Feeling context (fC)
defined, 113
diagram, 227
fractals of, 155
happiness, 131
importance of, 144–145
knowing, 97–100
predictability of, 123
recovery and, 225–226
role of, 179–181
strategy, 141
unconscious, 159–163
Feelings. See also Emotion(s)
anticipated, 228
beliefs and, 84–86
ignorance of, 201–202
intellect’s relationship to, 202–203
resistance to, 193–194
Feldman, Lisa, 127
Ferguson, Niall, 139
Financial advisors, role of, 28
First rule, of trading, 22
Five basic emotions, 126–127
Floor traders, 48–50
FOMO. See Fear of missing out
Football analogy, 175–183
The Foundations of Arithmetic (Frege), 75
Fractal geometry
blocked fractals, 190–193
building process and, 163–164
emotions in, 154–156
experiential knowledge and, 200–201
fC and, 155
Freud and, 151–154
key idea of, 148–149
love of trading and, 164–165
Madoff and, 165–167
Mandelbrot discovering, 14, 148–150
market mind and, 147–167
multifractals, 150, 154–156, 158, 165–167
not feeling good enough and, 156–157
price and, 148
psychology of uncertainty and, 147–148
Rajaratnam and, 165–167
The Social Animal and, 68, 122, 150
unconscious brain and, 150–153, 159–163
Fractal-emotional context (F-eC)
decoded, 185–193
diagram, 227
ironic solution to, 191–193
leverage from, 136
Michael’s, 218–222
recovery and, 225–226
role of, 179–181
in unconscious brain, 185–193
Frege, Gottlob, 75
Freud, Sigmund
“Beyond the Pleasure Principle” by, 153
fractals and, 151–154
Project for a Scientific Psychology by, 37
Frustration, 128–129, 132, 142
Fundamental value, 55
Future
emotions, 129–130
expectations about, 11
impossibility of knowing, 15–16, 103–110
numbers and, 15–16
Game, of markets. See also Getting back in game
as game of perceptions, 86
game plan plays, 178–179
mark-to-market emotions enhancing, 99–100
physical, of decision making, 176–178
The General Theory (Keynes), 53–54
Geometry, fractal
blocked fractals, 190–193
building process and, 163–164
emotions in, 154–156
experiential knowledge and, 200–201
fC and, 155
Freud and, 151–154
key idea of, 148–149
love of trading and, 164–165
Madoff and, 165–167
Mandelbrot discovering, 14, 148–150
market mind and, 147–167
multifractals, 150, 154–156, 158, 165–167
not feeling good enough and, 156–157
price and, 148
psychology of uncertainty and, 147–148
Rajaratnam and, 165–167
The Social Animal and, 68, 122, 150
unconscious brain and, 150–153, 159–163
unconscious fC of, 159–163
Getting back in game
BIKB trades and, 228
celebration and, 229
dealing with intensity, 226–228
by “Michael Kelley,” 223–230, 233
recovery, 223–226
success as skill in, 229–230
Getting the Love You Want (Hendrix), 186
Gladwell, Malcolm, 121
Glia cells, 18
Global communication, 15
Gold
approach to, 172–173
US Treasuries and, 212
Goldman Sachs, 62
Goldrin, Gary, 65
Government bailouts, 96–97
Greed, regret theory and, 135–145
Gretzky, Wayne, 198
Guilt, 118
Happiness, 131–133
Hendrix, Harville, 186
High-frequency trading (HFT), 49
Holy grail, of risk, 91–100
Home Depot, being lost in, 194–195
HSBC ads, 40–41
Hsu, Ming, 76–78
Huettel, Scott, 78
Human(s)
choice, betting and, 24–25
collective behavior of, 162
high-frequency set, 140
model of markets, 69–71
understanding of, 62–64
Hume, David, 37
Hussein, Saddam, 180
Implicit learning, 198–200
Imprecision, distaste for, 13–15
Impulse
differentiators of, 200
experiential knowledge and, 197–203
intuition v., 121, 136, 197–203
“In Battle, Hunches Prove to be Valuable” (Carey), 198
Incognito (Eagleman), 122, 150–151
Independent money manager, blocked fractal of, 190–193
“The Influence of Affect on Beliefs, Preferences and Financial Decisions” (Kuhnen and Knutson), 85
Information and Emotion (Nahl and Bilal), 134
Insiders, 64
Insurance companies, 16
feeling’s relationship to, 202–203
optimized, 113
Intensity, dealing with, 226–228
Internal context, 82–84
Internet bubble, 4
Inter-temporal discounting, 130
Intuition
army and, 198–199
defined, 198–200
differentiators of, 200
IPOs
in 1999, 26
truth of, 58
Ironic holy grail, of risk, 91–100
Irrational behavior, 33–35, 95
“It’s a Rag Top Day” (Buffett), 132
Japanese earthquake, 16
“Jigsaw puzzle” mode, 78–79
Joining, the resistance, 191–194
Judgment
context of, 38
machine of, 177
“Just knowing,” phenomenon of, 198
Kanter, Robert, 67
Keynes, John Maynard, 53–55
Knight, Frank
Risk, Uncertainty, and Profit by, 23
Knowledge. See also Experiential knowledge
BIKB trades and, 128–129, 163, 228
of emotions, 97–98
of fC, 97–100
“just knowing” phenomenon, 198
Knutson, Brian, 85
Kuhnen, Camelia, 85
Labyrinth, perception’s, 81–89
Lake Geneva, 21
Landman, Janet, 142
Language
brain structures and, 74
Learning
implicit, 198–200
machine, 19
Lectures, risk psychology
ambient, circumstantial, and contingent reality, 73–80
dealing with uncertainty, 53–72
decoding thoughts, 185–195
fractal geometry playing market mind, 147–167
invitation to, 7
ironic holy grail of risk, 91–100
lying numbers, 9–20
mental capital and psychological leverage, 111–120
mis-remembering caveats of early quants, 21–32
missing obvious, 33–42
perception’s labyrinth, 81–89
quarterbacking of portfolio, 175–183
LeDoux, Joseph, 122
Lehman Brothers, 68–69, 96–97, 114
Lerner, Jennifer, 123, 131–132
Leverage
of context, 179–182
for Coup d’État Capital, 175–176
F-eC offering, 136
lecture on, 111–120
mental capital and, 111–120
multiplying, 229
old-fashioned way v., 118–119
plan, 182
Lexington Avenue, 63
Limitations, of numbers and neurons, 17–19
Linear thinking, 40
Linebacker, falling, 88–89
LinkedIn IPO, 26
Liquidity crunch, 71
Livermore, Jesse, 66
Lo, Andrew, 67
Long-term debt, downgraded, 82
Losing, fear of, 127, 132, 135–136
Lost, terror of, 194–195
Love, of trading, 164–165
Machine learning, 19
Mandelbrot, Benoit, 13–14, 148–150
Marathon analogy, 230
March 2008, Bear Stearns during, 25
Market(s). See also Game, of markets; Social market
in adaptive markets hypothesis, 67
athletes, 115–117
August 2007 swings, probability of, 12
dislocations, 27
human model of, 69–71
Japanese earthquake influencing, 16
law of physics of, 112–113
mind, fractal geometry playing, 147–167
personal becoming, 130–131
poker decision parallels with, 14, 24–25
quantitative view of, 4, 30, 59–61
real traders predicting, 65–67
relationship with, 154–158
reversion to mean, 29
theory, 4
Markowitz, Harry, 6, 35, 54, 99
asset allocation by, 27–28
“Portfolio Selection” by, 27, 83
as quant, 27–31
Mark-to-market emotions
advanced workshop on, 121–134
best moments for invoking discipline, 129–130
embracing of, 133–134
emotions as data and, 124–126
five basic emotions, 126–127
happiness and, 131–133
mind game enhanced by, 99–100
personal becoming markets and, 130–131
as risk management, 121–134
Mean, reversion to, 29
Meaning
emotions making, 50–51
Meltdown, anger turning into, 128–129
Melt-up, 127
Memory
emotions influencing, 123
points of view of, 188
Mental capital
context and, 227
defined, 113–115
initial deposit in, 100
meltdowns and, 129
psychological leverage and, 111–120
“Michael Kelley”
brother’s bicycle accident influencing, 205–215, 217–221
at Coup d’État Capital, 109–115, 205–215, 217–222, 231–233
education of, 3–7, 9–10, 17, 26–27, 41
father of, 3–4, 171–172, 218–222
F-eC of, 218–222
getting back in game, 223–230, 233
Monaco pitch by, 231–234
new hire training of, 51–53, 55, 68, 78, 97
new job of, 105–110
“Renee Smith’s” relationship with, 5–7, 9, 14, 36, 45–51, 97, 104–105, 206–208, 210–214, 231–234
thoughts decoded, 217–222
on Wall Street, 4–5, 45–53, 55, 68, 78, 97, 103
The Mind in Context (Mesquita, Barrett, and Smith), 74, 122
The (mis)Behavior of Markets and Fractals and Scaling in Finance (Mandelbrot), 13–14
Missing out, 75, 127, 132, 138–144, 211
Models
as approximations, 22
embodied-embedded, 74–75
emotions in, 49–50
energy and, 178
human model of market, 69–71
options pricing model, 22
recalibrating, 56–57
regret, 142–143
Modern Portfolio Theory, 6
Monaco pitch, by Coup d’État Capital, 231–234
Money manager, independent, 190–193
decoding thoughts, 185–195
impulse v. intuition, 197–203
quarterbacking of portfolio, 175–183
Mortgages
beliefs and, 31
number crunching and, 15–16
Mother, relationship with, 151–152, 156, 162–163
Mourning, 224
Moy, Michael, 87
Moynihan, Daniel Patrick, 150
Multifractals, 150, 154–156, 158, 165–167
Nahl, Diane, 134
Narcissistic defense, 194
Natural-born traders, 65–66
Neuroeconomics, 39–41
Neuroemotion, 39–41
Neurons, limitations of, 17–19
Neuroscience, emotions in, 36, 159–163
New hire training
ambient, circumstantial, and contingent reality, 73–80
dealing with uncertainty, 53–72
ironic holy grail of risk, 91–100
of “Michael Kelley,” 51–53, 55, 68, 78, 97
perception’s labyrinth, 81–89
New psychology of uncertainty, 112–113, 147–148
Newspaper beauty contests, 53–56
1999 IPOs, 26
Non-consciously perceived emotional stimuli, 159
Non-deliberate complex decisions, 200
Nuances, in risk, 31
Numbers
analysis of what they can’t tell, 20
appeal of, 45
context of, 27
electrical counting machine and, 19
expectations and, 11
future and, 15–16
imprecision and, 13–15
limitations of, 17–19
mortgages and, 15–16
right role for, 59–61
statistics and, 11–13
Obvious, missing, 33–42
Oil, approach to, 172–173
Omissions, misleading, 16
Options pricing model, 22
The Other Brain (Fields), 18, 122
Pain, 194–195
Pattern recognition
of behavior, 63
probability and, 112
unconscious, 197–203
Percept, 86
Perception
by buyers, 57–58
consciousness and, 86–89
context of, 68
from embodied-embedded model, 74–75
emotions influencing, 97–98
energy and, 114
facts and, 56–58
game of, 86
labyrinth of, 81–89
price influenced by, 26–27, 50, 57–58
by sellers, 57–58
of sensory input, 87
speculation and, 56–59
Perfectionism, 145
Personal, becoming market, 130–131
Physical energy, 113–114, 116, 177–179
pIFS. See Posterior inferior frontal sulcus
Plato, 34
Pleasure, 126
Poker
call and raise in, 25–26
market decision parallels with, 14, 24–25
uncertainty illustrated by, 24–25
Portfolio
quarterbacking, 175–183
selection process, 29
“Portfolio Selection” (Markowitz), 27, 83
Posterior inferior frontal sulcus (pIFS), 79
Predispositions, 30–31
Price
at auctions, 69–71
fractal geometry making sense of, 148
Livermore predicting, 66
options pricing model for, 22
perception influencing, 26–27, 50, 57–58
in volume at price over time, 107
Prince, Chuck, 140–141
Probabilistic rationalism, 40
Probability
of August 2007 market swings, 12
context of, 27
fat tails and, 49
from past patterns, 112
Project for a Scientific Psychology (Freud), 37
Prop traders, 103–104
Proprietary trading, 3–4, 103–104
Protagoras, 34
Psychological capital, 113–115. See also Mental capital
Psychological leverage
of context, 179–182
for Coup d’État Capital, 175–176
F-eC offering, 136
lecture on, 111–120
mental capital and, 111–120
multiplying, 229
old-fashioned way v., 118–119
plan, 182
Psychology, of risk. See Risk psychology lectures
Psychology, of uncertainty, 112–113, 147–148
Psychology coach, 173
Qualitative context, 61
Quantitative view, of market, 4
revolution, 30
right role for, 59–61
Quants
early, caveats of, 21–32
Markowitz as, 27–31
Quarterbacking, of portfolio, 175–183
Raise, call and, 25–26
Rajaratnam, Raj, 64, 139, 165–167
Rally, last people in, 140
Real traders, market prediction by, 65–67
Reality
ambient, circumstantial, and contingent, 73–80
context and, 75–80
uncertainty and, 74–80
of unmeasurability, 23
Recalibration, of models, 56–57
Recovery, 223–226
Regime change, 173
Regret theory
anticipated regret in, 142–144
anxiety of uncertainty in, 136–138
defined, 59–60
fear of losing in, 135–136
FOMO in, 138–144
greed and, 135–145
model of, 142–143
perfectionism and, 145
Relationships
with collective human behavior, 162
with father, 3–4, 159–160, 171–172, 218–222
of intellect to feelings, 202–203
with market, 154–158
“Michael Kelley” and “Renee Smith,” 5–7, 9, 14, 36, 45–51, 97, 104–105, 206–208, 210–214, 231–234
with mother, 151–152, 156, 162–163
Reminiscences of a Stock Operator (Livermore), 66
“Renee Smith”
father of, 46, 49, 105–109, 172–173, 199–200, 214–215, 233
“Michael Kelley’s” relationship with, 5–7, 9, 14, 36, 45–51, 97, 104–105, 206–208, 210–214, 231–234
Monaco pitch by, 231–234
Repetition compulsion, 151, 153–154, 163–164
Resistance, 191–194
Responsibility, for judgment calls, 31–32, 35
Reversion to mean, 29
“Richard Kelley,” 3–4, 171–172, 218–222
Risk
beliefs and, 31
dice illustrating, 24–25
happiness and, 131–133
ironic holy grail of, 91–100
neuroeconomics and, 39–41
new psychology of, 41–42
nuances in, 31
offsetting, 12
physical game of, 177–178
sleep deprivation influencing, 114–115, 213
uncertainty v., 23
of unconscious, 235
Risk, Uncertainty, and Profit (Knight), 23
Risk management
advantage in social market, 67–69
eC in, 96–100, 122–124, 126–129
edge, 182
gaping hole in, 61–62
mark-to-market emotions as, 121–134
Risk psychology lectures
ambient, circumstantial, and contingent reality, 73–80
dealing with uncertainty, 53–72
decoding thoughts, 185–195
fractal geometry playing market mind, 147–167
invitation to, 7
ironic holy grail of risk, 91–100
lying numbers, 9–20
mental capital and psychological leverage, 111–120
mis-remembering caveats of early quants, 21–32
missing obvious, 33–42
perception’s labyrinth, 81–89
quarterbacking of portfolio, 175–183
Rules, of trading, 22
Sadness, 126
Schiller, Bob, 92
Self-data, capturing of, 125–126
Self-recrimination, 129
Sellers, perception by, 57–58
Sensory input, 87
Sentiment. See Emotion(s)
September 2008, reversion to mean and, 29
Short squeeze, 55
Situational building blocks, 82–83
Situational specifics, 75–76
Skill, of success, 229–230
Sleep
as edge, 177–178
The Social Animal (Brooks), 68, 122, 150
Social context, 179–181
Social market
gold and, 172–173
oil and, 172–173
risk management advantage in, 67–69
Spectrum, FAD, 127–128
Speculation, perception and, 56–59
Spock, 93
Star Trek, 93
Statistical correlation, 63
Statistics, seduction of, 11–13
Steiner, Rudolf, 201
Stenmark, Ingemar, 198
Success, as skill, 229–230
Tannen, Deborah, 141
Tannin, Matthew, 13
Technological change, 15
Technology companies, 12
Theory of mind (ToM), 63–64, 100, 178, 232
Thoughts, decoding
lecture on, 185–195
by “Michael Kelley,” 217–222
ToM. See Theory of mind
Too Big To Fail (Sorkin), 69, 114
Top-down emotion generation, 180
Traders
eC and, 99–100
emotion embraced by, 134
finality and, 83
floor, 48–50
as market athletes, 115–117
natural-born, 65–66
prop, 103–104
real, market prediction by, 65–67
sports and, 77–78
Trading
colors, 89
crowded, 179
first rule of, 22
HFT, 49
love of, 164–165
as physical game, 176–178
recovery in, 223–226
tiring, 114–115
traditional education, 11
Traditional trading education, 11
Training manual, Coup d’État Capital, 223
Treasuries, US, 212
Trends, fighting, 160
Triune model, of brain, 37, 74, 122
Truth
existence of, 58
of speculation, 56–59
Twitter, scraping of, 105
Uncertainty
circuit, 77–78
context of, 76–80
economics of, 28
lecture on dealing with, 53–72
neuroemotion and, 39–41
new psychology of, 112–113, 147–148
pain of, 195
poker illustrating, 24–25
reality and, 74–80
risk v., 23
wagering and, 24–25
Unconscious brain
fC in, 159–163
F-eC in, 185–193
fractals and, 150–153, 159–163
pattern recognition and, 197–203
risk of, 235
Understanding, of other humans, 62–64
United States (US)
downgraded long-term debt of, 82
Treasuries, 212
Unmeasurability, reality of, 23
US. See United States
Value
assessment, 70
expected, 58
of experience, 106–108
fundamental, 55
Vanity Fair, 65
Vision, context of, 87–89
Volume, at price over time, 107
Vulcans, 93
Wager, Tor, 127
Wagering, uncertainty and, 24–25
Wall Street
academia and, 3–7
“Michael Kelley” on, 4–5, 45–53, 55, 68, 78, 97, 103
Water-skiing example, of beliefs, 46–48
Wilkinson, Jim, 97
Winton, Don, 66–67
Workshop, advanced
fractal geometry playing market mind, 147–167
mark-to-market emotions, 121–134
mental capital and psychological leverage, 111–120
regret theory, greed and, 135–145
Workshops, monthly
decoding thoughts, 185–195
impulse v. intuition, 197–203
quarterbacking of portfolio, 175–183