How many of the 'Market Wizards' blew up?

[Humpy]

Quote from Ms Varima-Garch:


i think raschke didn't blow up. no wonder. she's a professional composer, and as such, knows that all the pseudo-scientific bullshit crap about the markets is not only useless, but dangerous as well.

she relies on her intuition to address the relevant issues. i don't have access to her financial records, but she looks like she's pretty well off. she doesn't produce the impression of a desperate newsletter writer.

Since you mention Linda Raschke, here is a little of what you can find about her on google - seems to be alive and still spouting

Trader Linda Raschke Provides Tips on Day-Trading S&P
by Jim Wyckoff

The S&P 500 futures market is a trading arena unto itself, which can accommodate many different trading styles, according to Linda Bradford Raschke, a well known trader, lecturer and president of LBR Group, Inc.

“Not only does this market display a different daily profile than the other futures markets, but it has a much longer “length of line” (intraday swings), which offers more trading opportunities, she said. “Additionally, there is a wealth of information provided by many internal indicators on the equities market that some professionals like to monitor.”

Raschke is a featured speaker this weekend at the 20th annual Technical Analysis Group (TAG 20) Conference here, sponsored by Telerate Seminars.

Below, the longtime trader provides some tips on trying to be a successful S&P 500 day trader. “However, let me also say that the majority of the professional S&P day traders I know tend to specialize in just one pattern or trade just one style. This is definitely a market where overtrading can be a temptation.”

 

[Ms Varima-Garch]

Quote from Humpy:


overtrading can be a temptation.”

she also gives some market commentary on:

www.moneyshow.com

in the videos section

it's a FREE resource, a very important factor, at least for me, and you don't have to register. i think FREE is often better.

i think she's not paranoid about the markets and that's good. likes horses, nature etc.

 

[MKTrader]

On a semi-related note, Michael Jackson made more than any MW and has apparently left his loved ones with mountains of debt. Money management (including the personal kind) certainly is important...

 

[MKTrader]

Quote from Ms Varima-Garch:


i think raschke didn't blow up. no wonder. she's a professional composer, and as such, knows that all the pseudo-scientific bullshit crap about the markets is not only useless, but dangerous as well.

she relies on her intuition to address the relevant issues. i don't have access to her financial records, but she looks like she's pretty well off. she doesn't produce the impression of a desperate newsletter writer. [/B]

While she's ultimately a discretionary trader (from what I understand), she certainly uses many tools, patterns, indicators, etc. that may be "pseudo-scientific" to some. It's not as though she says "this pattern reminds me of my favorite Bach fugue..I think I'll go long in oil!" or something.

 

[asiaprop]

I know from a senior fx guy that Bill Lipschutz blew up and has since then never recovered.

Quote from Cutten:

Include anyone from all 3 of the Market Wizards series. I define a blowup as personal bankruptcy, major losses in a fund (managing OPM) which then led to it closing down (i.e. no recovery to new equity high), 60%+ losses in own account which led to trader retirement, or fraud etc.

 

[Ms Varima-Garch]

Quote from MKTrader:

While she's ultimately a discretionary trader (from what I understand), she certainly uses many tools, patterns, indicators, etc. that may be "pseudo-scientific" to some. It's not as though she says "this pattern reminds me of my favorite Bach fugue..I think I'll go long in oil!" or something.

you're right. i mean she is eclectic, and an open mind about various trading things

it's not like it's 'i'm a turtle for the rest of my life and that's it'

 

[Ms Varima-Garch]

guys i suggest we leave michael jackson alone for a while, i mean the person has just left this world . ..

let them figure out all this themselves

 

[Ms Varima-Garch]

Quote from MKTrader:

It's not as though she says "this pattern reminds me of my favorite Bach fugue..I think I'll go long in oil!" or something.

well, sometimes it may be strict, like a bach fugue.

more often like a jam session, probably . . .

the point of connection here is a feeling of structure, probably

but we would have to ask raschke if this helps her . . .

i personally try to use tai chi to refine my intuition. it's good for relaxation, but it has not had any tangible effect on my trading yet

 

[Ms Varima-Garch]

then again, niederhoffer likes music, but he blew up.

so there's no consistent pattern here. i don't think he's a composer though.

i'm not saying: "any composer would make a good trader."

i'm saying: "raschke is a composer and it probably helps her in her trading, because composers have a good sense of structure.
if you understand various styles, probably eclectic is better. probably. you choose what to use here and now"

i mean i don't know that there's a link to any profession here.

victor sperandeo was a VERY successful trader and he has no formal education.

i've read 'a mathematician plays the market', the most useless book i've ever read, even worse than schwager. it describes in painful detail a mathematician's failure in the markets.

if it was about math, all mathematicians would've been rich

so i guess i'm trying to say that psychology is very important in all this, and to have a real edge, you REALLY have to stay focused, and above all, centered, especially in this sentiment-driven market

you know, morihei once said:

Aiki is an inexhaustible fount of wisdom. it is the source of all the true knowledge contained in the world classics. but aiki is not something you can master in four or five years. it takes at least ten years to grasp the basics of aiki, and it is dangerous to foolishly strive for some grandiose experience that you think will render you instantly enlightened. never consider yourself an all-knowing master. you must always be training and studying with your students.

 

[jimbojim]

Quote from Ms Varima-Garch:

I think raschke didn't blow up. no wonder. she's a professional composer, and as such, knows that all the pseudo-scientific bullshit crap about the markets is not only useless, but dangerous as well. [/B]

I have heard somewhere in the past, maybe 10 years ago, than she run a fund with one big investor, I think from Asia. These people liquidated the fund after it had loses. I cannot be sure since I cannot find the information. Maybe others know more details. I would be interested in a comfirmation or discomfirmation of this story.