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Showing posts from March, 2015

What I Learned Losing a Million Dollars: Interview with Brendan Moynihan

Next on my to-read list is Jim Paul and Brendan Moynihan's book, What I Learned Losing a Million Dollars.It is the story of one trader's (Jim Paul) disastrous losing streak and how he (barely) survived it, learning a few key lessons on ego and risk in the process.

As you'll note from the book's rather unusual title, What I Learned Losing a Million Dollars is not your typical "trading system-in-a-book", promising a golden pathway to riches. It deals squarely with losses and how overconfidence and success can lead us to complacency and ruin. So what lessons can we take from another trader's experience losing large sums of money? 

Tim Ferris recently interviewed the book's co-author, Brendan Moynihan. Here are some highlights from their discussion:

• While introducing Brendan Moynihan, Tim mentions that he was won over by Nassim Taleb's recommendation of the book, which he praised for its "non-charlatanic" real-life wisdom. Moynihan says that …