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Interview with Anthony Crudele

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A Great Interview with Jim Rickards.

Interviews with Jim Rickards.
Summary:
Coming soon
Summary:
Coming soon
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Interview with Peter Brandt

Here is a really great interview with legendary trader Peter Brandt from Chat with Traders:
http://chatwithtraders.com/peter-brandt-interview/play/
About Peter Brandt
Peter Brandt entered the commodity trading business in 1976 with ContiCommodity Services, a division of Continental Grain Company. From his start in the commodity industry, Peter’s goal was to trade proprietary funds. But, he first needed to learn the business. From 1976 through 1979, Peter handled large institutional accounts …
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The Most Beautiful Formula in Trading

The Kelly Criterion is the most well-known, simple and practical formula in the world the gambling and speculation. It determines the most optimal bet size according to the win-loss and reward-risk ratios of a betting system. The formula is given by:
K = W - (1 - W) / R
Where:
W = winning probability
R = reward-to-risk in each trade
For example, if your system risks one dollar to win every two dollar, and your hit rate is 40%, then you should bet:
K = 40% x 60%/2 = 12%
So, you should risk 12% of…
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Test Your Probabilistic Thinking

Let's play a simple game to test your probabilistic thinking skill.
You start with $100 to play a betting game.
You are going to flip a coin three times.
For each flip, you bet a fixed percentage of your money in hand.
For a head, you double your bet.
For a tail, you lose your bet.
Here is an example:
Say, if you choose to bet a fixed 10% for each flip.
In your first flip, you have to bet $100 x 10% = $10.
If you win, you get $10 x 2 = $20.
And now have $100 + $20 = $120 in hand.
In your second…
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