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"They Don't Learn From Experience" - 97% Of Brazilian Day Traders Lost Money

"They Don't Learn From Experience" - 97% Of Brazilian Day Traders Lost Money

A new study published in Social Science Research Network titled Day Trading for a Living?warns day trading as a full-time job in Brazil was virtually impossible, contrary to popular belief. 

Researchers obtained Brazilian SEC (Comissão de Valores Mobiliários) data that tracked all individuals who day traded mini-Ibovespa futures contracts between 2013 to 2015, a total of 19,646 traders.

Computing those who day traded mini-Ibovespa futures for only one day, only 29.8% (1,111 individuals) made a profit. Those who traded 2 to 50 days, only 15.5% (9,978) made a profit, 51 to 100 days was 8.9% (3,100), 101 to 200 days was 6.8% (2,738), 201 to 300 days was 5.4% (1,168), and more than 300 days was 3% (1,551). 

The portion of successful day traders declines with the number of days.

Researchers compare it to "casino roulette, where the proportion of successful players also monotonically decreases with the number of r…

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French "Black Bloc" Antifa Cause Violent Mayhem After Infiltrating Yellow Vest, Climate Marches In Paris

French "Black Bloc" Antifa Cause Violent Mayhem After Infiltrating Yellow Vest, Climate Marches In Paris

A group of approximately 1,000 "black bloc" anarchists infiltrated two Paris marches on Saturday, provoking clashes with police which led to mass arrests, according to AFP

The group first began marching with a Yellow Vest anti-government protest - setting fire to street barricades and breaking windows.

The anarchists then infiltrated a climate march, causing nonviolent families to abandon the event as French riot police deployed tear gas and other measures. Approximately 7,500 security forces were involved in the effort to police the events, while 163 people were arrested. The climate march organizers urged protesters to go home after the clashes turned violent. 

Portés par le vent les gaz lacrymogènes de la tête de manif atteignent tout le cortège obligeant les manifestants à s’écarter, surtout ceux venus avec leurs enfants #marcheclimat pic.twitter.com/5KswDFFR27

— Aline Lecl…
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Automation And The Crisis Of Work

Automation And The Crisis Of Work

Authored by Charles Hugh Smith via OfTwoMinds blog,

Technology, like natural selection, has no goal.

When it comes to the impact of automation (robots, AI, etc.) on jobs, there are two schools of thought:

one holds that technology has always created more and better jobs than it destroys, and this will continue to be the case.

The other holds that the current wave of automation will destroy far more jobs than it creates, but the solution is to tax the robots and use these revenues to distribute the wealth to everyone who no longer has a livelihood.

In either case, we'll get richer: if technology generates more high-quality jobs, replacing lower-quality jobs lost to automation, we'll collectively get richer, and if technology destroys jobs but creates immense profits that can be distributed to everyone as Universal Basic Income (UBI), then we'll get richer via distributing profits to everyone.

But what if neither option is realistic? What if the jobs …

Motley Fool
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Here's How 53% of Workers Are Putting Their Health at Risk

It's no secret that healthcare is expensive. In fact, medical debt is the No. 1 source of personal bankruptcy filings in the country. But new data from Bank of America's 2019 Workplace Benefits Report reveals a disturbing trend: Americans are ignoring their health to save money on medical care.

A frightening 53% of U.S. workers have skipped or postponed medical appointments, tests, procedures, medications, and hospital stays to avoid having to pay for them. Some have even forgone health insurance altogether. If you're guilty of doing the same, you should know that you're not only putting your health at risk, but also potentially creating a scenario where a minor health issue escalates into a major one, thereby costing you more money needlessly.

IMAGE SOURCE: GETTY IMAGES.

A better bet? Utilize tax-advantaged options for paying for healthcare to make it more affordable.

Use the resources available to you

Paying for medical expenses with pre-tax dollars can help make them more affordable, so to this end, it…

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This Common Retirement Mistake Could Cost You Nearly $250,000

When you're saving for retirement, you're bound to make some mistakes. Nobody has all the answers, and there's no one right way to save for the future.

For the most part, these mistakes won't ruin your chances at a comfortable post-work life -- especially if you catch them early and make corrections. However, there are some mishaps that could potentially be disastrous to your financial health.

One of them includes not considering the costs of long-term care. It may not seem like a significant issue, especially when you're still relatively young and have decades before you even think about your final years. But if you don't plan for these expenses now, it could cost you hundreds of thousands of dollars later on.

Image source: Getty Images.

How much does long-term care really cost?

Roughly a third of workers age 50 and older don't think they'll live long enough to need long-term care, according to a survey from Nationwide. Furthermore, when asked how much they think long-term care costs, 67% couldn't even p…

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'Smoking Gun' Link To Tehran In Aramco Attacks? Forensics Team Examines Weapons GPS

'Smoking Gun' Link To Tehran In Aramco Attacks? Forensics Team Examines Weapons GPS

In what should be taken as perhaps the greatest indicator thus far that the US and Saudis don't actually have proof Iran was behind the Sept. 14 drone and missile attacks on Saudi Aramco facilities, the WSJ reports investigators are still searching for “smoking gun” evidence backing the allegations.

Per the WSJ, the focus of weapons experts leading the investigation remains the GPS systems on the projectiles themselves, some of which may or may not be in varying degrees of being intact, if photos of the debris displayed at a Saudi Defense Ministry briefing last week are any indicator. 

As to just how "certain" American intelligence agencies are regarding the continuing who dunnit? saga, this line from the report is deeply revealing: "They say they can’t galvanize world support for their view unless they can draw a clear link back to Tehran, which has denied any role in the attacks."

Missile debris on display b…
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3 Things to Watch in the Stock Market This Week

Stocks declined slightly last week, as both the S&P 500 (SNPINDEX: ^GSPC) and the Dow Jones Industrial Average (DJINDICES: ^DJI) shed less than 1%. The indexes each remain in solidly positive territory in 2019, though, just below all-time highs.

Over the next few days, earnings reports are likely to send a few stocks moving. Below, we'll take a look at the metrics that investors will be watching from Nike (NYSE: NKE), CarMax (NYSE: KMX) and Vail Resorts (NYSE: MTN) as they announce their latest operating trends.

Image source: Getty Images.

Nike's China business

Nike posts quarterly results on Tuesday, and investors have a few good reasons to follow this announcement. The sports-apparel titan is kicking off a new fiscal year, following banner results in 2019 that included double-digit sales growth and improving profitability. While that constitutes impressive momentum, it's an open question as to whether CEO Mark Parker and his team can extend their rebound streak into a third year. Economic growth app…

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Hedge Fund CIO: "Generational Conflict Will Be The Top Theme Of The Coming Decades: Enter MMT"

Hedge Fund CIO: "Generational Conflict Will Be The Top Theme Of The Coming Decades: Enter MMT"

Submitted by Eric Peters, CIO of One River Asset Management

While our ageing central bankers gradually come to terms with the fact they do not understand the complexity of the system that they themselves created, our global youth are forming a new vision of their future. And while it’s notoriously difficult to predict the behavior of such complex systems, it seems a fair bet to expect a global green new deal, funded by bonds, bought by bankers.

* * * *

Climate change and generational conflict are the most important themes that will unfold in coming years/decades, he thought.

Of course, central bank impotence is a critical theme too, and the growing admission by our monetary magicians that they need politicians to pull the fiscal levers signals its arrival. But the intersection of climate and youth is something truly new. Climate issues concern global youth far more than matters of money. And for d…

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CarMax Earnings: 3 Trends to Watch

Following a weak start to the fiscal year, investors are starting to believe in CarMax's (NYSE: KMX) growth potential again. The used car giant had good news to report in its last earnings announcement, which showed its fastest expansion pace in over a year. That boost followed an encouraging improvement in shopper trends in late 2018 that have returned the company to modest customer traffic growth.

On Tuesday, CarMax has a chance to extend that positive momentum deeper into fiscal 2019 by showing strong operating results in its fiscal second quarter. While growth is likely to slow from the prior quarter, investors are hoping to see continued market share gains across its 200 stores around the country plus a spike in e-commerce sales.

Let's take a closer look.

Image source: Getty Images.

Traffic in stores

Comparable-store sales shot up 10% last quarter to mark a significant departure from the flat result shareholders saw through the full 2018 year. This encouraging start to the year included robust volume…

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Hong Kong Protesters Ratchet Up Violence; Mall Captured, Subway Stations Attacked

Hong Kong Protesters Ratchet Up Violence; Mall Captured, Subway Stations Attacked

Violent factions of the mostly peaceful Pro-democracy movement in Hong Kong took to the streets this once again this weekend - attacking two subway stations, igniting street fires and desecrating Chinese flags - one of which was set on fire before it was dropped into a dumpster and pushed into a river, according to the Associated Press and SCMP.

(Photos via SCMP, AP)

Photo: Edmond So

A group of protesters in the centre of Sha Tin's New Town Plaza have taken a Chinese flag and are walking over it and dragging it across the bottom floor of the mall, as a procession follows a leader to chants of “add oil”.

Video: SCMP pic.twitter.com/jFs3Rn0fmd

— SCMP Hong Kong (@SCMPHongKong) September 22, 2019

On Sunday, protesters ransacked a shopping mall in Sha Tin - targeting businesses with ties to mainland china, or otherwise seen as pro-government or pro-police. This drew a response from riot police, who deployed…

Motley Fool
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1 Issue Chesapeake Energy Investors Shouldn't Overlook

Chesapeake Energy (NYSE: CHK) has come a long way over the past few years. The oil and gas producer has completed several transactions to strengthen its balance sheet while enhancing its growth prospects. As a result, the energy company is inching closer to its ultimate target of being able to deliver sustainable growth.

All these moves, however, have come at a high cost for the company's investors. That's because it has had to issue a significant number of new shares to bolster its financial profile and growth prospects. This dilution has weighed on the stock and could keep the company from realizing its full potential.

Image source: Getty Images.

Handing over another slice of the company

Chesapeake Energy's outstanding share count as of the end of the second quarter was 80% higher than it was at the same point last year. That's due in large part to its cash-and-stock deal to acquire WildHorse Resource Development, which it made to bolster its balance sheet and oil growth prospects. All those newly issue…

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Chipotle Gets Tastier With Carne Asada Launch

Since joining Chipotle Mexican Grill (NYSE: CMG) in early 2018, CEO Brian Niccol has made menu innovation and more aggressive marketing the centerpieces of his turnaround plan for the fast-casual chain. The results have been impressive so far. Chipotle's comp sales growth has accelerated dramatically during Niccol's tenure, culminating in a 10% year-over-year increase in the first half of 2019.

That said, Chipotle's average sales per restaurant and earnings remain well below 2014-2015 peak levels. On the flip side, menu changes haven't had much of a chance to boost Chipotle's results thus far, because of Niccol's (wise) insistence on thoroughly testing potential new menu items before launching them.

Chipotle's sales growth has accelerated over the last several quarters. Image source: Chipotle Mexican Grill.

However, last week, Chipotle introduced carne asada as a new limited-time protein option. This could be the first of many menu innovations that may enable the company to maintain its recent sales momen…

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General Electric Just Signaled the Worst May Be Over for Its Power Segment

It's not often that analysts and investors walk away from an industrial conference thinking of General Electric's (NYSE: GE) outlook as one of the highlights, but that's exactly what attendees were probably thinking after hearing CEO Larry Culp's presentation at the Morgan Stanley Laguna conference. Culp had some long-awaited good news regarding GE's beleaguered power segment. Let's take a look at what he said and what it means to investors.

Culp gives a brighter outlook on power

It wasn't accompanied by a lot of fanfare, and Culp delivered the news in his usual calm manner, but if you listened carefully you would have heard him say that it "appears we may see a market somewhat north of 25 to 30 gigawatts" for the year and "perhaps a little bit" of a tailwind going into the next couple of years.

Image source: Getty Images.

He was talking about industrywide large gas turbine orders in terms of power. As you can see below, the market has halved in the last five years, and GE's current outlook and planning a…

Oil Price
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Oil Wealth Could Fund Free Education In This State

Money from New Mexico’s general fund would be used in a plan for providing local students with free college education regardless of their income level. The fund has recently enjoyed substantial inflows thanks to the booming development of the Permian shale play that spans Texas and New Mexico.

NPR reports that the plan, proposed by Governor Michelle Lujan Grisham, has to first be approved by the legislature of the state and quotes the Governor as saying, "It means better enrolment. It means better student success. In the long run, it means economic growth, improved outcomes for New Mexico workers and thinkers and parents. It means a better trained and better compensated workforce."

Ironically, another initiative by the New Mexico Governor could undermine her education plans. Michelle Lujan Grisham took office with two climate-friendly pledges: to make New Mexico’s electricity emission-free by 2045, and to curb methane emissions from the oil and gas industry more substantially than they ar…

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Vail Resorts Earnings: A Preview

Investors have lofty expectations heading into the Vail Resorts (NYSE: MTN) earnings report on Thursday, Sept. 26. The global ski resort giant increased its earnings guidance twice so far this fiscal year, and that positive momentum has supported the stock price lately, with returns inching toward the broader market's 20%.

On Thursday, Vail isn't likely to announce robust sales, since the fourth-quarter fiscal period spans the summer months that mark a seasonal low for the business. Still, the latest trends on season-pass sales will determine the targets that management issues for the new fiscal year. Investors will also receive key updates on Vail's capital spending programs aimed at reducing its exposure to poor snow conditions.

Let's take a closer look.

Image source: Getty Images.

Hitting the numbers

Vail has succeeded in building out its geographic footprint in recent years, but most of its business still comes from ski-related sales in the North American market. Given that it was too warm for snow ac…

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