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<channel>
	<title>Daily Speculations</title>
	<link>http://www.dailyspeculations.com/wordpress</link>
	<description>THE WEB SITE OF VICTOR NIEDERHOFFER: DEDICATED TO VALUE CREATION, BALLYHOO DEFLATION AND APPLYING THE SCIENTIFIC METHOD IN FINANCE</description>
	<pubDate>Sat, 18 May 2013 18:37:50 +0000</pubDate>
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			<item>
		<title>Briefly Speaking, from Vic Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8390</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8390#comments</comments>
		<pubDate>Sat, 18 May 2013 18:20:09 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8390</guid>
		<description><![CDATA[The regularities in fixed income seem much less numerous than the regularities in stocks. What is the cause of this?
First one market goes down much in one week, then another market goes down the next week. Is it random or predictable ? Last week it was gold.
Is there an all seeing eye that looks for [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8390</wfw:commentRSS>
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		<item>
		<title>The Path, from Vic Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8389</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8389#comments</comments>
		<pubDate>Sat, 18 May 2013 18:11:22 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8389</guid>
		<description><![CDATA[Everything in the market is path dependent. You can have the best insights, the best trades, but if you do it this week versus next week the whole thing is different. Had I not done this or that when the adversaries were lined up against, I mite be flying and wealthy. Is there any doubt [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8389</wfw:commentRSS>
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		<item>
		<title>Flexions are Human Too, from Craig Mee</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8388</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8388#comments</comments>
		<pubDate>Sat, 18 May 2013 18:07:17 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Craig Mee</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8388</guid>
		<description><![CDATA[Isn&#39;t Flexionism part of human nature just like shouting from the rooftops to crave recognition when trade research and timing techniques pay off. People will always want to be the leading pack animal or drive the herd, under whatever or differing pretense . Does the way one speaks to his broker whether making money or [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8388</wfw:commentRSS>
		</item>
		<item>
		<title>Before the Weekend, from Vic Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8387</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8387#comments</comments>
		<pubDate>Fri, 17 May 2013 18:33:45 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8387</guid>
		<description><![CDATA[Whenever a market I was long goes way against me and I sell at the market, (if one had a Xantippe for a wife - it would be her demanding one get out before the weekend &#8212; or else) , I have Tom Wiswell saying to me, &#34; Now you&#39;re Thinking &#34;. After he put [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8387</wfw:commentRSS>
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		<item>
		<title>The Difference between Speculators and Gamblers, from Sushil Kedia</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8386</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8386#comments</comments>
		<pubDate>Fri, 17 May 2013 14:25:16 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Sushil Kedia</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8386</guid>
		<description><![CDATA[To add to an already long list of differences between broadly who a speculator may be and who a gambler may be: the successful speculator generally leans onto the side of chance but an unsuccessful gambler is seeking chance to lean on his side.
Countless differences may exist and can be cited between who a speculator [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8386</wfw:commentRSS>
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		<item>
		<title>S&#038;P back of the envelope, from Duncan Coker</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8385</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8385#comments</comments>
		<pubDate>Thu, 16 May 2013 16:44:26 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Duncan Coker</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8385</guid>
		<description><![CDATA[
Some back of the envelope numbers on S&#38;P500&#160; futures daily changes last 10years for your perusal:


Year       %up       Max       Min        SDev

2003      55%     [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8385</wfw:commentRSS>
		</item>
		<item>
		<title>Modern Times, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8384</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8384#comments</comments>
		<pubDate>Thu, 16 May 2013 12:43:10 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8384</guid>
		<description><![CDATA[I just had a modern Finnigan happen to me. I got to sleep long a commodity that I had a profit on when I fell asleep but I left my limit orders to buy well below the current price in. I heard a computer ring tone 12 times waking me up. I am reluctant to [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8384</wfw:commentRSS>
		</item>
		<item>
		<title>The Round Numba is Never a Penumbra, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8379</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8379#comments</comments>
		<pubDate>Thu, 16 May 2013 01:11:57 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8379</guid>
		<description><![CDATA[The round numba is never a penumbra. Today&#39;s example: Gold.


]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8379</wfw:commentRSS>
		</item>
		<item>
		<title>The Useful Idiot and the Regression Bias Tintype, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8381</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8381#comments</comments>
		<pubDate>Wed, 15 May 2013 17:25:08 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Scott Brooks</category>
	<category>Tyler Cowen</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8381</guid>
		<description><![CDATA[One has to admit that Smith is the perfect exemplar of the regression fallacy with the luck being ephemeral and the skill a constant expectation. Whenever he plays and hits some lucky shots, the Knicks are sure to try to give it to him the next game and lose as the luck vanishes. What a [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8381</wfw:commentRSS>
		</item>
		<item>
		<title>Two Quality Reference Works, from anonymous</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8383</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8383#comments</comments>
		<pubDate>Wed, 15 May 2013 17:02:17 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Other Contributors</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8383</guid>
		<description><![CDATA[Two quality reference works I recommend reading for those interested in the substructure (hours &#38; minutes) of price action (The books touch on the ultra high frequency microstructure also) are
1. Asset Price Dynamics, Volatility &#38; Prediction  by Stephen J. Taylor
2. Introduction to High Frequency Finance  by Dacorogna, Gencay, Muller, Olsen &#38; Pictet

At the [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8383</wfw:commentRSS>
		</item>
		<item>
		<title>Bonds and the Underarm Bowling Incident of 1981, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8377</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8377#comments</comments>
		<pubDate>Wed, 15 May 2013 16:40:03 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Craig Mee</category>
	<category>Anatoly Veltman</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8377</guid>
		<description><![CDATA[The bonds are down about 6 points in the last two weeks. Worse yet, those who bought at the auction a week ago, actually have a loss. There&#39;s a famous incident where a great cricketeer was up by 1 run, and then on the last pitch, he rolled the pitch to the batter instead of [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8377</wfw:commentRSS>
		</item>
		<item>
		<title>MOOCS, from David Lillienfeld</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8382</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8382#comments</comments>
		<pubDate>Wed, 15 May 2013 16:24:58 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Stefan Jovanovich</category>
	<category>David Lilienfeld</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8382</guid>
		<description><![CDATA[As the cost of a college education soars and the middle class finds itself struggling with paying for public university tuition, MOOCs  (Massive Open Online Courses) offer one possible way to lower the costs of a college degree. Lots of promise&#8211;and the potential for disrupting the American college, a bastion of the middle ages [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8382</wfw:commentRSS>
		</item>
		<item>
		<title>Why I Moved to Latvia, from Jan-Peter Janssen</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8378</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8378#comments</comments>
		<pubDate>Wed, 15 May 2013 15:55:57 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Jan-Peter Janssen</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8378</guid>
		<description><![CDATA[I moved to Latvia, a former Soviet republic now in the EU, almost two years ago. Here&#39;s why I chose Latvia over Singapore, the US and my home country Norway.
First, ever since my teens - that&#39;s ten years ago - I realized that the world is full of new opportunities. With the internet, one can [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8378</wfw:commentRSS>
		</item>
		<item>
		<title>The Difference Between a Speculator and a Gambler, from Larry Williams</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8376</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8376#comments</comments>
		<pubDate>Tue, 14 May 2013 19:09:48 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Kim Zussman</category>
	<category>Tim Melvin</category>
	<category>Larry Williams</category>
	<category>Gary Rogan</category>
	<category>Craig Mee</category>
	<category>Gibbons Burke</category>
	<category>Duncan Coker</category>
	<category>David Hillman</category>
	<category>Bill Rafter</category>
	<category>Jeff Watson</category>
	<category>Anton Johnson</category>
	<category>Leo Jia</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8376</guid>
		<description><![CDATA[I first saw the &#39;dead eyes&#39; look of a poker player/loser when I was 13 or so. Still gives me restless nights and I know I cannot become that way.

My dad took me into the &#34;stockman&#39;s bar&#34; in Billings, Montana to impress upon me what degenerate, greedy people turn into.
Probably another sleepless tonight tormented by [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8376</wfw:commentRSS>
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		<item>
		<title>Aleatores Omnes Moriuntur Rupti, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8375</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8375#comments</comments>
		<pubDate>Tue, 14 May 2013 18:41:33 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8375</guid>
		<description><![CDATA[
A warning in Latin from Jeff&#39;s son perhaps could serve as a motto for us in the future&#8212; a motto that one wishes one had hardwired in his being:
Aleatores Omnes Moriuntur Rupti
(all gamblers die broke)
]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8375</wfw:commentRSS>
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		<item>
		<title>One Walked Past the Sherry-Netherlands</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8374</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8374#comments</comments>
		<pubDate>Tue, 14 May 2013 17:19:02 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8374</guid>
		<description><![CDATA[One walked past the Sherry Netherlands hotel tonight where the boy wonder, Jesse Livermore, took his life. The fact that The Reminiscences of a Stock Operator  is considered one of the best books on investments ever written is guaranteed to happen. Anyone who follows his advice and example is 100% certain to go broke. [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8374</wfw:commentRSS>
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		<item>
		<title>Robots, from Garrett Baldwin</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8373</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8373#comments</comments>
		<pubDate>Tue, 14 May 2013 17:00:20 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Stefan Jovanovich</category>
	<category>James Lackey</category>
	<category>Garrett Baldwin</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8373</guid>
		<description><![CDATA[I have seen more and more of this story reiterated over the last few months&#8230; That hi-tech and robotic innovation are leading to greater displacement of the middle class in the United States and around the world.
&#34;Think Your Job is Robot Proof? Think Again&#34;
A Stanford professor recently commented that technology and scale are greater drivers [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8373</wfw:commentRSS>
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		<item>
		<title>A Famous Fixed Income Trader, from Victor Niederhoffer</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8371</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8371#comments</comments>
		<pubDate>Mon, 13 May 2013 21:50:30 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8371</guid>
		<description><![CDATA[A famous fixed income trader alerted the public via social media in somewhat existential terms that he was bearish on bonds stating several points after the peak of 1 week ago that the bull market was no longer intact. It elicited this thought from a old speculator.&#160;It is surprising to see someone who presumably holds [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8371</wfw:commentRSS>
		</item>
		<item>
		<title>Self-Employment Jobs Numbers, from Bill Rafter</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8372</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8372#comments</comments>
		<pubDate>Mon, 13 May 2013 10:50:32 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Bill Rafter</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8372</guid>
		<description><![CDATA[The Treasury Dept. puts out a Monthly Treasury Statement that breaks down a lot of interesting data. Mostly it&#39;s redundant information to anyone following the daily data, but this month (i.e. April) the payroll tax receipts from self-employed enterprises is a few sigmas to the upside. This April&#39;s self-employed number was 8.86 percent higher than [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8372</wfw:commentRSS>
		</item>
		<item>
		<title>The Gold[smid] Crash, from Richard Owen</title>
		<link>http://www.dailyspeculations.com/wordpress/?p=8370</link>
		<comments>http://www.dailyspeculations.com/wordpress/?p=8370#comments</comments>
		<pubDate>Fri, 10 May 2013 16:44:17 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Jack Tierney</category>
	<category>Richard Owen</category>
		<guid isPermaLink="false">http://www.dailyspeculations.com/wordpress/?p=8370</guid>
		<description><![CDATA[The Rothschild dynasty famously got one of its big breaks following Wellington&#39;s victory at Waterloo. With an information network, backed by his four brothers spread across the Continent, Nathan Meyer was able to receive news of the victory twenty-four hours ahead of everyone else. He then either (i) bought the British bond market, (ii) bear [...]]]></description>
		<wfw:commentRSS>http://www.dailyspeculations.com/wordpress/?feed=rss2&amp;p=8370</wfw:commentRSS>
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