Wed 3:39pm


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Nick Ray's Latest Blogs

Since the beginning of the week share price quotes for the smaller UK stocks seem to be completely unreliable. Google Finance and Yahoo Finance do not see any trades at all intra-day for some stocks although Yahoo do seem to be working for close-of-day again. Sites like Moneyam and ADVFN seem to have spent the week firefighting to get some kind of support re-established. But…

PCA (Principal Component Analysis) is a statistical technique that can be used to identify the main factors (components) which account for the variance between a set of observations. It has been applied to human personality traits to establish the five factor model and it has been applied to political leanings where we find there is really only a single big axis (left-right) with other components…

If you wanted to put a trailing stop under your stocks to allow them room to be volatile but to get you out before real trouble appears, where would you put it?  For many people -20% seems to be a 'safe' choice. It is away from the day-to-day noise and by the time you are -20% down it feels as if any further would start…

This website provides a very useful summary of a stock's performance in terms of three numbers: the Quality rank, Value rank and Momentum rank. However my testing suggests that the Value rank needs to be treated with caution. These plots show LR (Likelihood Ratio) against rank. Values of LR greater than 1 indicate a probability greater than 0.5 that the stock will have a positive…

Nick Ray's Latest Comments

Something that would be useful is just calling up all the shares under each style. You can do that. e.g. to find all Momentum Traps: Or do it interactively from this page:

Thanks for the interview with Spreadex. Very interesting. I still have reservations about spread betting, but it is interesting to hear not using margin being discussed at all. The fact that financial spread betting is combined with sports betting and even casino games does still make me wary though.

Probably worth mentioning here the "permanent portfolio" created by Harry Browne. The idea is to put 25% into each of stocks, bonds, gold and cash and rebalance about once a year. This creates a very low volatility portfolio (the four components very rarely move in the same direction together) with modest but consistent returns. Such a portfolio weathers the highs and lows of the economic…

He says "utilize the kit" referring back to "control our fixed costs". He is talking about getting maximum use from the equipment which does the manufacturing work (adding epi layer, etc) by keeping it busy as much as possible. The "kit" is just slang for machinery/equipment.

My very cheap (about £30) Android phone can do face recognition to log on. So I can't get too excited if Apple want £1000 for the same thing. On my phone it certainly doesn't always work in tricky light conditions (then you enter your PIN) and I'm sure it can be spoofed quite easily. I definitely wouldn't turn on face recognition on my phone if…

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