Michael Covel Says: Greed Is Good

Quote from Trend Following:

I see! You set the goals for everyone. And if they achieve more than you -- they are greedy! Ridiculous logic.
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The definition of "Excessive" is left up to the determination of those around you. It is not something you define for yourself.

The sheer definition of greed speaks for itself. Spin it any way you want it Michael. You've already lost sight of your potential. Say what you want, it is only done so to make yourself feel better. You have the intelligence and ability to make a difference but choose to follow a different path. You are just another "also ran".

I do not look down on anyone that strives to succeed. That is the American way. We are all ancestors of immigrants and my fore-fathers taught me to work hard to make my family secure and comfortable but I was taught as well that greed (striving to excess) will be my demise. We see it happen ever day in the news. I look down on those that promote the goal of excess and that is exactly what you are doing. The economy is, in part, in the state it is in due to those with your mentality of "Greed is Good".
 
Without greed America would not be the global superpower it is today.

Without greed there would be no striving for better and higher achievement beyond one's current means.

Without greed there would be no creation of business, both small and large, which employees thousands and thousands of people in this country.

Without greed there would be no institutions of higher learning, where your only limitations are those you place on yourself.

Without greed there would be no way of keeping score ... and you people would be forced to live at the same means as their lessor talented/initiative/driven neighbor.

Withouth greed there would be no accomplishment.

America was built on greed (for better or worse), and so long as that greed can be channled for good purpose, it is good, it will continue to exist, it cannot be lesgilated out of us, and it will lead us to our higher good.

Greed is good ... make no mistake about it.

P.S. Without greed there would be no Elite Trader, we would not be having this conversation, and there would be no means of exchange of thought as we are doing now. Dwell on that.
 
Quote from matgallis:

You're right life is about priorities. Greed keeps food on your table. While you're making a profit on your trade, someone else is losing. If you're not greedy, write them a check and return their losses.
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So since I learned how to be successful at trading over 15 years of practice and trail & error, I should give back the profits made from my hard work to those not willing to put in the same effort I did to succeed, right?

So McDonald's should right a check to Burger King for their lose of customers today and then Burger King should right a check to McDonald's for their lose of customers tomorrow right?

And the person working in McDonald's should give half of his paycheck to the homeless guy that just doesn't want to work because the McDonald's worker is greedy for having a job, right?

You and Michael will get along just fine. Maybe he will take you under his wing. You can always write to Bernie or Ruth Madoff, Kenneth Lay, Jeffrey Skilling or any number of well skilled individuals in the "Greed is Good" category for a personal mentorship.



(By the way I earn a good living trading but far less than I am capable of.)
 
Quote from ProfLogic:



(By the way I earn a good living trading but far less than I am capable of.) [/B]
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Loser's attitude. Ahh the opportunities that emerge from individuals' attidues like yourself :)

Keep it up!
 
Quote from MandelbrotSet:

"... P.S. Without greed there would be no Elite Trader, we would not be having this conversation, and there would be no means of exchange of thought as we are doing now. Dwell on that.
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Well then, greed must be BAD!

I have a friend whose dad passed on. The estate is to be split equally between him and his older sister, who is executor.

When it comes to money she's a conniving, manipulating, self-serving, lying BITCH. She's GREEDY.

Though some people apparently confuse "greed" with "ambition", ambition is different.
 
Quote from MandelbrotSet:

Without greed America would not be the global superpower it is today.
Without greed there would be no striving for better and higher achievement beyond one's current means.
Without greed there would be no creation of business, both small and large, which employees thousands and thousands of people in this country.
Without greed there would be no institutions of higher learning, where your only limitations are those you place on yourself.
Without greed there would be no way of keeping score ... and you people would be forced to live at the same means as their lessor talented/initiative/driven neighbor.
Withouth greed there would be no accomplishment.
America was built on greed (for better or worse), and so long as that greed can be channled for good purpose, it is good, it will continue to exist, it cannot be lesgilated out of us, and it will lead us to our higher good.

Greed is good ... make no mistake about it.
More...

America is loosing it's standing as a superpower and if keeps on its current path that will diminish more quicker than later.

Striving for better and higher achievement beyond one's current means isn't about greed.

Business isn't established for greed. We who actually trade for a living know that more than most. We trade for personal freedom and comfort not greed and we are in business for ourselves.

Tell a nurse or a teacher that they are being greedy in their choice of educating themselves so they can "give back" and earn a decent living. There is NOTHING excessive about the money they earn.

I didn't choose to spend 15 years at what I do to achieve excess. I did so for personal freedom. I don't like working for others. Greed had nothing to do with my achievements.
 
Quote from matgallis:

Loser's attitude. Ahh the opportunities that emerge from individuals' attidues like yourself :)

Keep it up!
More...

And do you have a family?
And how much time to you donate to charity?
Your answer, if honest, will speak volumes.
 
Quote from ProfLogic:

And do you have a family?
And how much time to you donate to charity?
Your answer, if honest, will speak volumes.
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No i was born out of a sludge in the near by swamp. I have no friends, family or care about anyone close. I'm a hermit who lives in dumpsters and trades on an iphone.

I give plenty of time to charity per year.. Recently lend a hand at the breast cancer walk and plan to run in the next one. I'm such a bad person that my family has its own charity, god we're horrible people!!
 
Quote from ProfLogic:

America is loosing it's standing as a superpower and if keeps on its current path that will diminish more quicker than later.

Striving for better and higher achievement beyond one's current means isn't about greed.

Business isn't established for greed. We who actually trade for a living know that more than most. We trade for personal freedom and comfort not greed and we are in business for ourselves.

Tell a nurse or a teacher that they are being greedy in their choice of educating themselves so they can "give back" and earn a decent living. There is NOTHING excessive about the money they earn.

I didn't choose to spend 15 years at what I do to achieve excess. I did so for personal freedom. I don't like working for others. Greed had nothing to do with my achievements.
More...
Greed is an integral part of all human achievement.

It is in the cases where it is driven to an extreme that it becomes a bad thing. But a piece of it (or any of the other passions of the mind) is needed to achieve anything , otherwise we might as well just become Denmark.

***

Without greed there would be no:

Bill Gates
Donald Trump
Jeff Bezos
Sumner Redstone
Oprah Winfrey
Kobe Bryant
Debra J. S. Fields
William Guthy
Wayne Hicklin
Lido (Lee) A. Iacocca

... the list goes on and on. But one thing is for sure, greed is a very good thing indeed! :)
 
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