The European Noise Festival

If you are having difficulty deciphering noise from information, I will help you –


There are so many sources competing for your eyeballs and they will say anything to get you to allocate your precious time and energy that would be better spent focusing on your own method and goals.

The same exact thing was happening when I had dinner with Lydia more than a year ago and she said,

I’m done with Greece and don’t pay attention to it. I don’t care. Its in the market. It has been in the market. You can see it in equity prices. They don’t care either.

Well guess what, the $SPX is up 200 points since then and even if it was down 200, staring at Greece’s navel would have produced zero alpha.

You only have so many minutes and so much energy in a day and 98% of Cyprus and Europe were in the market by the close on Monday March 18th.

The world is so complex that no matter how smart you are and how many blogs you read, you will not have an information edge amid this glorious festival of noise.