John Meriwether in TROUBLE again....

[smilingsynic]

Quote from Fractals 'R Us:

It was highly educated smart people that bought all the subprime repackaged garbage too!!

I've always hated academics, most of them could not survive, and their philosophies and world view would not survive, without public funding really. Then to have them take their ideas and get even more funding from private capital.... stupid to even look their way to make money... think like a barbarian!! That is what I like to do, and view these geniuses as big dinosaurs lumbering around waiting to step in a trap and provide a huge meal for the tribe.....

The guys that own this site made $100 million in their own lifetimes by trading... but we have had academics come on here and start threads with the idea that they can prove it's impossible to make money trading..... and they are living off our tax monies..

I am an academic who trades 4 hours a day during the academic year and all day during breaks; if I am too busy during the day (I also serve as department chair), I'll trade the Hang Seng morning session before going to bed.

Even though I am an academic, I believe that it is not impossible to make money trading, but I would agree that most academics would make lousy traders, because their massive egos would get in the way.

I read Lowenstein's book on LTCM at least once a year. It is a reminder that even the most educated can make the most stupid of mistakes, and that hubris and leverage make a lousy combination.