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	<title>Daily Speculations</title>
	<link>http://www.dailyspeculations.com/wordpress</link>
	<description>THE WEB SITE OF VICTOR NIEDERHOFFER AND LAUREL KENNER: DEDICATED TO VALUE CREATION, BALLYHOO DEFLATION AND APPLYING THE SCIENTIFIC METHOD IN FINANCE</description>
	<lastBuildDate>Thu, 02 Sep 2010 17:48:55 +0000</lastBuildDate>
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		<title>NYC Junto for September 2010, from Alex Castaldo</title>
		<description><![CDATA[The next meeting of the NYC Junto, on Thursday September 2, will feature Gene Epstein, Economics Editor of Barron&#39;s. He will be talking about &#34;what is wrong with economics&#34;.
The meetings are at the Mechanics Institute, 20 West 44 th Street, starting at 7:00pm.
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		<link>http://www.dailyspeculations.com/wordpress/?p=5216</link>
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		<title>Midlife Surfing, from Pitt T. Maner III</title>
		<description><![CDATA[With waves up from the hurricanes, surfers will be out&#8230;and they will need to know their abilities well to safely handle bigger waves and strong currents.
A good video and article by Mrs. Edlinger follows about taking up surfing later in life and the associated benefits of and lessons learned from the sport.
My limited personal experience [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5215</link>
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		<title>The Timing of Price Controversy, from Jim Sogi</title>
		<description><![CDATA[In addition to the relationship of price change, the time of price controversy is worthy of study. In battle, an opponent can keep up the fight as long as his endurance, his resources, or supplies last. A human has a limited endurance. After 4 or 5 days of intense involvement in the market I know [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5214</link>
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		<title>Florida Once Part of Africa, from Pitt T. Maner III</title>
		<description><![CDATA[Here in Florida we are sitting on top of a carbonate platform that overlies what is thought to be  part of the African plate that separated when the continents drifted apart .
And from UF, one of the early paleomagnetism/plate tectonic researchers, Dr. Neil Opdyke shares some interesting background on how research on the earth&#39;s [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5213</link>
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		<title>The September Thing, from Kim Zussman</title>
		<description><![CDATA[Here we are again with the September thing. The attached compares mean return in SPY (incl div), 1993-present, by month. Sept is low, but so is June, Aug, and especially Feb. No average significantly less than the global average, however.

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		<link>http://www.dailyspeculations.com/wordpress/?p=5210</link>
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		<title>The Market is Infinitely Fascinating, from Victor Niederhoffer</title>
		<description><![CDATA[The market is infinitely fascinating and various. Except for my leaves of absence I have traded every day for 32 years about 8000 days in a row straight. But I can&#39;t imagine what happened at 3:59pm EST when the market went up 1/2% in a second to NYSE close. The close the last day of [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5209</link>
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		<title>The Big Flush, from Craig Mee</title>
		<description><![CDATA[It&#39;s always exciting to watch players get their way in markets&#8230;..and then get hurt.
Watching a market hold a certain level again and again before, come hell or high water, those bears are going to push it through.
With the appropriate risk, normally it&#39;s the trade I want to be on, particularly on a pull back within [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5211</link>
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		<title>Good Piece on Leaving a Crisis, from Jeff Rollert</title>
		<description><![CDATA[Are declarations of victory against the global crisis premature? This column  argues that &#34;graduation&#34; &#8211;- the emergence from recurrent crisis bouts-&#8211; is a long and painful process which neither developed nor developing countries look close to completing. Two centuries of evidence suggests that most countries need 50 years before the chances of further crises [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5208</link>
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		<title>Market Highschool, from Ken Drees</title>
		<description><![CDATA[Living in rapt paranoia of the next data point to come, the market bursts up and out from its range low despite how the private sector job number is very bad.
So the internal buying pressure overpowers the &#34;head that thinks about numbers and their ramifications&#34; and bulls the market&#8211;ignoring for the moment what the studious [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5212</link>
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		<title>Market Standings</title>
		<description><![CDATA[
&#169;Daily Speculations&#160;2010
Notes: FX league is calculated expressing USD per foreign currency.&#160; This is done to normalize quotation methods across the currencies.&#160; All are expressed such that a move higher (aka % change &#62;0) is an appreciation of the foreign currency and a depreciation of the USD.&#160; A % move &#60;0 would be a USD gain [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5082</link>
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		<title>Quote of the Day, from Kim Zussman</title>
		<description><![CDATA[&#34;&#39;There&#39;s nothing to take us higher so we&#39;re continuing to go lower,&#39; said Dan Greenhaus , chief economic strategist at Miller, Tabak and Co.&#34;
(NOT A JOKE).
Nick White writes:
That&#39;s bad, but the all time award had to go to the guy some years ago who made the prescient and wise call: &#34;Well, Maria, the market went [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5205</link>
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		<title>Timing in the Hood, from Ken Drees</title>
		<description><![CDATA[When I try to run with the lead pack I usually get beat up by elbows and get my heels clipped and dinged. I just can&#39;t complete. So I dial down the trade to a longer time frame&#8211;let the zigger and the zaggers roach and take my cut when the line moves ahead.
I envision the [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5204</link>
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		<title>My Complaints and the Weather, from Jim Lackey</title>
		<description><![CDATA[The only thing I learned in my study of weather for markets was my race car computers for engine tuning.
Barometric, water vapor and temp were the same &#34;ratio&#34; as I think Mr. Ellison pointed out I calculated wrong from zero degrees from absolute zero. It was the same ratio of change, and I just learned [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5206</link>
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		<title>The Game, from Jim Sogi</title>
		<description><![CDATA[This whole news release game is silly. The market is gun shy ahead of announcements and the book drops to nothing guaranteeing a crazy move. The reaction seems always to be behind the form. The info is stale and old. The news producers of course want attention to sell copy.
The consensus game is silly, asking [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5207</link>
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		<title>How to Listen to Jackson Hole, from Russ Sears</title>
		<description><![CDATA[I currently am in the midst of writing a paper that suggests the regulators are the magicians of the markets. They direct your attention to the left, implies that your really should focus on the right. Time after time the central planners will steer the market to focus on this risk only to let the [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5201</link>
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		<title>Bottoms Up, Gentlemen, from Rocky Humbert</title>
		<description><![CDATA[Mory&#39;s, a legendary Yale establishment, and site for flexion decision-making, just re-opened  after two years of financial distress.
Can there be a better indicator to ensure that the &#34;bottom&#39;s in?&#34; (Or more accurately, &#34;bottom&#39;s up&#34;&#8211; for Mory&#39;s Cup fans.
T.K Marks adds:
From the Wiki article:
&#34;&#8230;Although the club had an endowment of $2 million until recent years, [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5200</link>
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		<title>Bonds and Bunds, from Victor Niederhoffer</title>
		<description><![CDATA[Bonds and bunds at exactly 134 14 at 9:59 am est. What are the chances?
Alston Mabry comments:
One is reminded of the &#34;buddhist monk&#34; problem.
Charles Sorkin comments:
Great trailhead! The link led me to discover the Hairy Ball Theorem. Looking for applications now, as well as a cocktail party in which to casually discuss it&#8230;
Jim Sogi comments:
In [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5199</link>
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		<title>Historical Real Stock Return By Decade, from Kim Zussman</title>
		<description><![CDATA[Using Prof. Shiller&#39;s monthly data of SP500 returns (including dividends and adjusted for inflation), below is a table of mean monthly return (&#34;MMR&#34;) by decade, counting back 120 months from the end of Jan 2010 to Jan 1880 (non-overlapping monthly return by decade). Also shown is monthly stdev and T (comparing mean to zero).
10/14 decades [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5198</link>
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		<title>Things I Learned at the Spec Party, from Victor Niederhoffer</title>
		<description><![CDATA[Siskind thinks that resi real estate has bottomed, commercial real estate is very overbuilt because of people working at home, and retail real estate is going to get killed because refinancing wont be available and securitization makes it impossible for any other outcome beside bankruptcy.
E believes that the oil spill will create a boom in [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5197</link>
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		<title>The Pros and Cons of Selling Online, from Nigel Davies</title>
		<description><![CDATA[With circulation generally falling, a number of newspapers have been trying to create alternative revenue streams by selling their content online. I was wondering what you all thought of this.
The &#39;expert&#39; opinion I&#39;ve seen so far seems to suggest that people are very reluctant to pay for online content unless it is unique and has [...]]]></description>
		<link>http://www.dailyspeculations.com/wordpress/?p=5196</link>
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