Did Altucher fail as a trader?

Vishnu · Mar 20, 2012

I think the world has changed. I think the book on trading (of my 9 books, only 1 is about short-term trading, 1 is about buffett, 1 is about hedge funds, 2 are about long-term holding, and 4 are more about personal stuff) worked when I wrote it (2003/2004) and when it came out but since 2008 probably has not worked as well.
-James Altucher

Rodney King · Mar 20, 2012

What's the reference for that Altucher quote? It doesn't turn up on Google. Thanks.

Vishnu · Mar 20, 2012

Rodney, if you are talking about the above, I'm James Altucher. So the reference is here.

Gueco · Mar 20, 2012

Quote from Vishnu:

I think the world has changed. I think the book on trading (of my 9 books, only 1 is about short-term trading, 1 is about buffett, 1 is about hedge funds, 2 are about long-term holding, and 4 are more about personal stuff) worked when I wrote it (2003/2004) and when it came out but since 2008 probably has not worked as well.
-James Altucher

First of all thats not even true, Supercash has short-term trading setups in it as well...

Second, I tested all your setups recently, even the ones you put on ET and on thestreet.com. More than one setup still works and the mean-reversing stuff works, just not with 20 days exit, which was a very silly exit to begin with. I am sure you can do better and I am also sure you know that. So I dont understand why you wrote that except maybe you want a different audience now that trading is unfashionable.

Grandluxe · Mar 20, 2012

Quote from Vishnu:

I think the world has changed. I think the book on trading (of my 9 books, only 1 is about short-term trading, 1 is about buffett, 1 is about hedge funds, 2 are about long-term holding, and 4 are more about personal stuff) worked when I wrote it (2003/2004) and when it came out but since 2008 probably has not worked as well.
-James Altucher

good lord dude you wrote NINE books?

maybe should spend some time on trading....

Gueco · Mar 20, 2012

Quote from Grandluxe:

good lord dude you wrote NINE books?

maybe should spend some time on trading....

Altucher wants to distance himself from trading. Its for business reasons, I am sure.

Vishnu · Mar 20, 2012

Gueco, not sure why you need to convince yourself of that. But not everything in life is business/money oriented.

Vishnu · Mar 20, 2012

Quote from Grandluxe:

good lord dude you wrote NINE books?

Well, to be fair, one of them is a comic book.

tenthousandmen · Mar 20, 2012

Anyone who uses the phrase 'beat the stock market' is total loser

Gueco · Mar 20, 2012

Quote from Vishnu:

Gueco, not sure why you need to convince yourself of that. But not everything in life is business/money oriented.

I find it difficult to believe someone smart like yourself can't come up with better systems than the ones you put on those books.

Even I trade much better systems, and I am not that smart. By better I mean simple and very reliable systems. Stupid is good in trading.

So that makes me think you must have an agenda to write that article.