Michael Lewis is a masterful storyteller who has done a phenomenal job of portraying the essence of wall street and trading in his books liars poker and the big short. The movie, the big short is as close to the reality of trading, right down to the dialogues and dress codes, and life on wall street as I have ever seen.
It’s understandable that many are skeptical about the value of coaching and resistant to it since there are some misperceptions about what coaching is. Especially among traders, portfolio managers and other high achievers. Coaching is not psychotherapy. It’s not instructional training for the development of technical skills. And it’s rarely about giving advice or simply handing out a script entitled “7 Habits of Successful Traders”.
A private man, without wealth, without property, without official title or office. He was not a commander of armies nor a ruler of vast lands. He could not boast of any scientific achievement or artistic gift. Yet men, governments, dignitaries from all over the world have joined hands and come to pay homage to this brown man in a loin cloth who led his country to freedom. Mahatma Gandhi has become the spokesman for the conscience of all mankind. He made humility and simple truth more powerful than military empires…”
Since 2008 the major central banks have collectively pumped ~ $14 trillion in liquidity AND lowered short-term rates to zero and beyond (negative deposit rates). This has been an extraordinary experiment. The eventual outcomes and unintended impacts are uncertain. Currently, there’s about $8 trillion of global sovereign debt with negative yields.