DarterBlue Posted April 5, 2018 Report Share Posted April 5, 2018 Ed Seykota is best described as an eccentric, trading genius. The song below is both humorous and truthful. It kind of reminds me of Kenny Rodger's, The Gambler: 1 1 Quote Link to comment Share on other sites More sharing options...
noonereal Posted April 5, 2018 Report Share Posted April 5, 2018 you are starting to worry me Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted April 5, 2018 Author Report Share Posted April 5, 2018 1 minute ago, noonereal said: you are starting to worry me No worries mon. I am still an easy going, Jamaican. Seykota was a trader I first read about in the first Market Wizards book. An MIT graduate, he was one of the first traders to develop sophisticated, computer algorithms to guide his system in the late 1960s. Quote Link to comment Share on other sites More sharing options...
noonereal Posted April 5, 2018 Report Share Posted April 5, 2018 and here I thought the nature of investing was to buy ownership in a company that you thought had a great idea or product so that idea or product could grow and in so doing give you a fair return on your investment. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted April 5, 2018 Author Report Share Posted April 5, 2018 16 minutes ago, noonereal said: and here I thought the nature of investing was to buy ownership in a company that you thought had a great idea or product so that idea or product could grow and in so doing give you a fair return on your investment. That's the Warren Buffet way. It is what I call "good capitalism." I have the technical proficiency to do that, as I have prepared and studied many 10k's in my lifetime, and have a working career of business experience. However, temperamentally, it would not work for me as I lack both the long term patience (a character flaw), and the conviction (I have always regarded our capitalist system as being inherently unstable) to buy and hold ownership in companies that seemed to have great products and services. The way you describe works if you do your homework and have both time and patience on your side. If you are lazy and have neither time nor patience, you had best stay away from markets altogether, with the exception of owning a broadly diversified mutual fund when you are still at least 5 years away from retirement. For both fundamental and technical analysis take an awful lot of hard work, patience, self awareness and self confidence. At the same time, you have to recognize your mistakes, admit them, take your losses, and move on when you are wrong. Not many people have the right profile to actively trade or invest. 2 Quote Link to comment Share on other sites More sharing options...
dbcaptiron Posted April 5, 2018 Report Share Posted April 5, 2018 1 hour ago, noonereal said: and here I thought the nature of investing was to buy ownership in a company that you thought had a great idea or product so that idea or product could grow and in so doing give you a fair return on your investment. Think about it this way....In our system these companies are PUBLICLY held and traded...(not governmental or private) The speculation side, is not the fault of the Companies, or the market..... It's those public speculators that you think burden the market with this... And most Company management would agree with your condemnation of it.... It fucks them alot harder than it does you.... and The majority of their pay is based in STOCK.... Quote Link to comment Share on other sites More sharing options...
golfaddict1 Posted April 5, 2018 Report Share Posted April 5, 2018 4 hours ago, DarterBlue said: Ed Seykota is best described as an eccentric, trading genius. The song below is both humorous and truthful. It kind of reminds me of Kenny Rodger's, The Gambler: Is there a Metallica or AC/DC version? 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted April 5, 2018 Author Report Share Posted April 5, 2018 31 minutes ago, golfaddict1 said: Is there a Metallica or AC/DC version? That would be something, wouldn't it? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.