There are several of us with PhD's, here ... (and to be honest I'll be surprised if there aren't some medical practitioners, too, though admittedly nobody springs immediately to mind).
college is a waste of money
- Thread starter zdreg
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There are several of us with PhD's, here ... (and to be honest I'll be surprised if there aren't some medical practitioners, too, though admittedly nobody springs immediately to mind).
I'll take your word...probably having memory issues. But definitely not any Lawyers for sure.
It is my friend who is a doctor not me. I have an accounting degree although, not a CPA. The long hours after a while, I did not want to do accounting work. Just do taxes nowadays.
I can't imagine Engineers and Doctors would make very good traders. -- They are way too conservative. and Will need concrete black and white evident proof with every decision and inclination that crosses their mind.
I'm mainly, generally, talking about 'True Traders'...not order processors, or scalpers, or arbers, or formula/automated/system developers. or economists, or theory idealists.
Dr. Michael Burry wasn't a trader. He was more of a macro generalists of some sort.
And besides, does it really take a genius...to realize all those shitty loans and the housing crisis was dangerously close to flirting with inevitable danger,
You flood any market with an influx of buyers...it will naturally disrupt the natural habitat.
That's why the FED exists...to keep things and the flow of money in check.
Watch this 3-part trading documentary...and pay special attention to Simon, the old man, the retired ex-IBM Engineer PH.d...he performed the worst. He was an absolute nervous wreck throughout this.
There's a constant fine line between having balls and flirting with disaster. That call is at your discretion.
You need to be ruthless and aggressive, but at the same time...wise, and calm, and slow and patient and observant, -- and articulate.
Trading...is like inventing ...your own sporting event. -- and then betting on it.
I'm not saying it's a weird, insider activity...but rather you have to structure the end goal to your favor and knowledge and general expectations.
Think about your trade...what you are trading, the instrument...and the time frame and etc etc,
How, and why, will you win -- if you can't explain that fluidly with some degree of confidence, and proof,...you shouldn't be trading.
The best retail traders are middle-aged males, with relatively average educational backgrounds.
I'm thinking Dan Zanger, Japanese traders CIS and BNF, Marty Schwartz, Larry Williams, Mark Douglas -- some are old or dead now...but they all basically excelled or reached their peak performances metrics in their middle years.
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My sentiments exactly! The stockmarket is a different planet to be on. Only in the stockmarket do you have the best professionals in their field think that it is way too easy to make $1,000,000. What is not said is these professionals including, doctors took how many years of study and internship to be really good in their chosen field? Yet, being absolute newbies expect instant success in the stockmarket? It takes a lot more work than people think.
Ben graham says the same thing in the Intelligent Investor.
In this case, my doctor friend was too aggressive! She was putting hundreds of thousands of dollars at risk on one trade! At times, she would have hundreds of option contracts that she has bought. Most times, she would buy call options when the trend is obviously, down on VRX, one of her worst trades ever! I told her to buy put options to recover part or all of her losses. Guess what she did? She just doubled down and bought more call options further increasing her losses!
And most likely he has low level Aspergers along with many other talented people:
Suspected
- Julian Assange — Computer programmer, founder of WikiLeaks[37]
- Marty Balin — Singer, songwriter, musician[38]
- Roger Bannister — Former middle-distance athlete, physician, academic[39]
- Warren Buffett — Business magnate, investor, philanthropist[40][41]
- Bob Dylan — Poetic songwriter, singer, painter, writer, Nobel prize laureate[42]
- Greg Egan — Writer[43]
- Bill Gates — Business magnate, investor, author, philanthropist[44][45][46]
- Steve Jobs — Entrepreneur, businessman, inventor, industrial designer[47]
- Robert M. Pirsig — Writer, philosopher[48]
- Steven Spielberg — Director, producer, screenwriter[49]
- Mark Zuckerberg — Computer programmer, Internet entrepreneur, co-founder of Facebook[50][51]
I suspect many traders have this condition, you are holed up somewhere spending generally years and this keeps you away from people you generally want to stay away. You often score very high in IQ and have a keen ability to do Math in some way or able to be gifted in logical activities.