Here’s what’s mattering in my head this morning and why

Here’s what’s mattering in my head this morning and why.

New Study – Traders are worse than Psychopaths – And there you have it, in black and white. Studies aside, the psychology of the trader is something that every investor needs to understand, both outwardly (looking at the rest of the world of traders) and inwardly (looking at your own psychology).  Why do you panic when the SPY breaks a certain level? Why do you only want to buy Apple AAPL when it’s at its highs? Are you still in that Citigroup C long because you can’t let it go? Why can’t you be a better trader — even if you’re wildly successful, why can’t you be even better? Pyschopath. Anyway, another must-read from my must-read go-to guy, Bruce Krasting.

How Do I Find a Job in Finance? – I am asked this all the time too.  And right now as the layoffs trickle up from Main Street to Wall Street and as Goldman GS, Bank of America BAC and others lay people off this summer, I’m hearing more of it. David gives some good advice to any job seeker, both new and old.

Amazon lights up with Kindle Fire – If Amazon really does price this new Kindle Fire at $199, it’ll be a huge, huge seller for the company.  Google GOOG and Amazon AMZN are partners against Apple now. Remember when Apple and Google shared board members? Remember when Google and Amazon were steel-cage-death-match competitors? (I all but predicted this $199 tablet from Amazon and others back before Amazon had even announced a coming Android tablet in my Marketwatch newsletter, Revolution Investing, in this issue: The coming tablet, iPad bonanza)

The Trading Deck – Marketwatch’s new markets-professionals-only platform.

Bank of America Deathwatch: $50 Billion Securities Fraud Suit Over Merrill Acquisition – Anybody who reads me knows that I’ve been short the banking sector for the last year or so and that it has been a huge money maker.  I am wondering if its getting to be time to buy the worst of the best names in the sector (think the aforementioned layoff-happy Goldman and Bank of America) for a trade with a time horizon measured in months.  The TBTF banks are still pretty much all insolvent without continued government welfare/accounting-gimmicks, but that doesn’t mean they’ll go bankrupt in the US this century or that there’s not a trade or two to the long side.

Rodney Dangerfield’s First Economics Class – And how about a little investment-related levity to finish us off today.