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INVESTFAIR '08 – End of Final Day 2!

Yesterday was the final day 2 of INVESTFAIR '08. I was there very early to ensure I get a chair to seat to listen to Ray Baros. Wow, it was full house again! For traders, what determines success? - winning psychology (60%), effective money management (30%) and written trading plan with edge (10%). But the single most important factor 95% of traders fail is because of unrealistic or unreasonable expectations, ie expectations that they can make high returns trading. I guess this is very much influenced by the newspaper advertisements and the talks of profits claimed by most trading courses! Ray said if Warren Buffet can only achieve 27%, don't expect too high!

As usual, I liked the panel discussion on “Market Focus for the Last Lap of 2008”, this time a different panel. Somehow I liked Mr. Ray Baros' views compared to the rest, I just feel they are not so independent in their outlook, you know what I mean - the paid analyst or journalist or with business interest! So we must do our own homework! By the way, Mr Ray is hedge fund manager, trader, etc, multi-hats guy! His view is the bear is here to stay until 2012.

I liked the talk by Mr Robert Miles on Warren Buffet Part 2. It was full house again and I've to sit on the floor again! This time I already heard about his closing joke, anyway I still laugh!

I look forward to another INVESTFAIR in 2009!

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