Luke Cummings is an Australian equities trader with more than 14 years of experience. After deciding that journalism wasn’t a good fit, Luke went on to get a finance degree and became a stockbroker and eventually a trader.
Luke is still an active trader and runs a Sydney hedge fund and runs The Long And Short Of It which is a model portfolio service and trading blog.
Luke discusses methods and strategies that haven’t been discussed before, and things that often trip up entry level traders.
What’s Covered in This Interview:
- The challenges when it comes to not understanding if you’ve found an angle to exploit the market or you were just lucky.
- Why Luke feels there were some expected benefits from getting a finance degree and working in customer service with an online brokerage.
- A loophole strategy Luke found which involves buying discounted securities and was very profitable for him until the rules changed.
- The “efficient market hypothesis” that universities usually teach and how it was an eye opener for Luke to find inefficiencies in the market.
- Luke’s involvement with day trading, long term strategies, and his rules-based discretionary trading methods.
- Common mistakes and traps that entry level traders make, and Luke shares a few tips that might be able to avoid the unavoidable.
- How traders can spot the “takeover strategy” without riding rumors.
Links and Resources:
- Long And Short Of It – Visit this Luke and his approach to markets. If you want to become a member, use the coupon code “CHTWTRDR20” for 20% off subscriptions.
- Takeover Strategy (PDF) – A document that outlines the ‘Takeover Strategy’ discussed during the interview.
- The New Market Wizards – Luke’s top five trading books of all time.
- Australian Financial Review, Wall Street Journal, Bloomberg – Websites Luke goes to daily to stay in tune with the market.
- 789 Asset Management – Luke and his partner Andrew Salvestrin’s hedge fund.
- @LukeCummings81 – Follow Luke on Twitter.
- @LongShortOfIt – Follow Long And Short Of It on Twitter account.
