Jason Shapiro has been a trader for 30 years and was interviewed in the Unknown Market Wizards book by Jack Schwager. From early on Jason was a rebel who avoided group think and sought out contrarian trading opportunities in overhyped, or deeply oversold stocks and commodities.
Blessed by early trading successes, Jason retired to a beach in Thailand in the late 90’s and traded his account full time only to experience tragedy less than a year later. The painful lessons he learned drove him to give up his opinions about markets and instead listen to what the market is saying by becoming a great market tape reader.
You’ll hear how Jason finds great trading opportunities through a combination of weekly trader reports, media commentary and news events to put on his contrarian trades.
Topics & Timestamps
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00:00 Intro
03:00 Jason’s background and early lessons learned
10:23 Players involved (Dumb and Smart money)
12:40 Media as a good contrarian indicator?
16:15 Professional money managers as a good contrarian indicator?
18:42 Publications which help in finding contrarian opportunities:
19:38 Looking at the COT report
27:38 Stock analysts as a good contrarian indicator?
28:38 Put/Call ratios, Short interest levels, Surveys
29:45 Looking at P/E ratios, P/S ratios
31:50 Timing of when to make a trade
34:31 Importance of news releases
37:19 Importance of uncorrelated plays
38:26 How often Jason gets stopped out
39:22 Stock alternatives to increase gain
41:13 How Jason exits positions
44:12 Counter participation approach
45:14 Systemizing a CTA fund & return degradation
48:25 Giving back to the community
49:55 Advice to traders:
51:40 How to contact Jason
Links & Resources for Jason Shapiro:
https://www.crowdedmarketreport.com/about/
@Crowded_Mkt_Rpt [Twitter]
See more show notes here:
https://chatwithtraders.com/245
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Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
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