Ego and the ET Poster

vulture

there is a contrarian indicator somewhere in here, but too bad it's probably lagging.

I find ET is great for the odds and ends of trading that don't quite fit into a focused board. I don't really use boards much, except for Wilmott, and I can say that the quantitative focus there is nice - but sometimes you just need help getting 4 monitors to work or the specifics of the rollover on some contract, which I find ET is pretty good at.

But I agree - high quality analysis doesn't get a good audience here.
 
Something like this one was beaten into me in other jobs. Along with "I'm wrong." Seems to me it's a requirement of risk management - the way I think of it. After a time, maybe when you see other traders (or some of them anyway) as colleagues, it gets easier to say, and becomes a force multiplier.

"The only way to be successful is to be able to say 'I don't know,' both to yourself and to others. You have to know the parameters of your own competence. I've said 'I don't know' in front of a group of people where I'm embarrassed to do so but then discovered that they respect you for it. When you try to kid yourself or others, you always get a bad result. The truth always surfaces. A lot of people in business these days trap themselves by putting on a facade. I remember my father telling me when I was 11, 'It takes you 30 years to build a reputation, but you can ruin it in 30 seconds.' That could be another rule."


-- Howard Buffett, director, Berkshire Hathaway; president, Howard G. Buffett Foundation

Source:

http://www.business2.com/b2/web/articles/0,17863,1069237-2,00.html

Geo.
 
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