The AlphaMind Podcast

#97 Jason Shapiro: 'The Contrarian' Answers Listeners Questions

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Sep 14, 2022
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ANECDOTE

Jason's Trading Journey

  • Jason Shapiro lived in Asia for years and began trading the Hong Kong index while in Hong Kong.
  • He ran a hedge fund, then took time off after a divorce, now runs his own CTA with few clients and low overhead.
INSIGHT

Trading is Professional Gambling

  • Trading is like professional gambling and requires playing the odds over time.
  • Losses will occur even with good odds; disciplined risk management is essential to succeed.
ADVICE

Wait for Market Confirmation

  • Wait for market confirmation before taking contrarian positions after extreme sentiment.
  • Confirmation occurs when bearish news fails to push prices down, signalling potential market turn.
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