Sunday, February 15, 2009

Featured Site Seeing: Cara Community

This begins a new Trader Feed feature in which I highlight interesting financial websites that you might be unfamiliar with. None of these mentions have been solicited; rather, I have been scouring sites to find new and fresh perspectives for traders and investors. I will continue to track these sites via my Twitter links.

Today's featured site is Cara Community, hosted by Bill Cara. His week in review post is an excellent review of economic data, sector performance, bonds and yields, commodities, and more. His commentaries and community chats also bring considerable feedback from readers, often in response to his strongly held views.

My favorite sites are ones which make me look at data in new ways, think about new issues, and view old issues in new ways. I believe that's what Cara Community is trying to accomplish.


ninja 6 said...

Readers of Cara's blog should be aware that it is also used as a marketing tool for CTAB, his trading company and that his writing style is different from his trading style. There are some interesting comments from some readers though.

Bill said...

ninja 6, you are quite correct about writing and trading. As a discretionary portfolio manager, I trade first and foremost to protect capital, being aggressive only at times. In my writing, as Brett points out I take stronger views, but I do that mostly to generate commentary in the Discourse section.

As you know there are two sides to every trade, and none of us are going to be right a whole lot more than 50% of the time unless we are cheating, as some do.

Btw, I retired at the start of 2000, then starting blogging at Easter 2004, then in June 2006 I contemplated writing a book, which I did in Bahamas at the top of the market during the summer of 2007. In 2008, I decided to come out of retirement, and became registered to trade in securities professionally within the past year, here in Bahamas and with the SEC. So, my writing preceded my pro trading by four and a half years, and was started because I was bored during retirement and then had to care for dieing parents, speaking daily to my Dad who had traded with a discount broker every day until the prior year at the age of 86.

Because of the book and the blog, the trading business has been profitable from the month I started. From my blog, I recruited 14 contractors from around the world to help me with research, computers, admin, teaching and trading. They have no risk, and I pay them monthly. I live on the beach beside Sandals Resort in Nassau, and couldn't be happier with my life. I just turned 67.

The best, though, will always be giving things back to society, sharing what I can. I ask for nothing in return, and the website is free of commercials other than a link to my site. I started an annual conference in Bahamas, which is non-commercial and open to anybody to come and learn. Over and above what people paid, it cost me $25,000, and the 2010 conference will possibly cost me twice as much. The experience was incredible; there were people from all over the world attending, many with tears in their eyes when they left. Emotion is what drives me outside the market because in it I have to contain those emotions.

Long way of saying there is a difference between my writing and my trading.