Rich and Taleb agree.....

marketsurfer · Nov 25, 2007

Quote from Thunderdog:

I read Lowenstein's book, yes, but I have also read about LTCM elsewhere, relying on a number of different sources. Most recently, I read about it in Richard Bookstaber's A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation:

http://www.amazon.com/Demon-Our-Own...bs_sr_1?ie=UTF8&s=books&qid=1196039141&sr=8-1

I brought this book to your attention a while back. In a response post, you advised that you had ordered it. Have you forgotten, or have you just limited yourself to reading the jacket cover as you seem to normally do before giving us your assessment?

Surfer, I really think you should think twice before you accuse other people of being shallow, implicitly or otherwise.

your right, i have not read demon yet. thank you for the reminder. im on several publisher lists, get tons of books, and am way behind on reading list.

whats your thoughts on R.bookstabbers book ( and i thought i had a bizzaro name)?

regards,

surf

ps. not shallow but reliant on 3rd party information when dealing with someone who has gone direct. the 3rd party reliant actor is certainly at a disadvantage, regardless of what they think.

Thunderdog · Nov 25, 2007

Quote from marketsurfer:

your right, i have not read demon yet. thank you for the reminder. im on several publisher lists, get tons of books, and am way behind on reading list.

whats your thoughts on R.bookstabbers book ( and i thought i had a bizzaro name)?

regards,

surf

I thought it was a well-written book. The title is quite appropriate, in my opinion. I think you will agree after reading it.

marketsurfer · Nov 25, 2007

Quote from Thunderdog:

I thought it was a well-written book. The title is quite appropriate, in my opinion. I think you will agree after reading it.

ok, thank you. looking forward to it.

have you read "devil take the hindmost"? first glance seems similar in spirit.

surf

stock777 · Nov 25, 2007

I believe the constant reference to the market as random is counter productive.

There's very little that's actually random about it.

Your limited intelligence/information creates the illusion of randomness.

Accept that and maybe you can move on.

rateesquad · Nov 25, 2007

Random as a lightning strike?

Yes you do not know exactly where it will strike but you will know in what general area. And if you use sophisticated tools you are able to pin-point the lighting strike to very close area. And you are unable to tell where exactly the lightning will strike in one year ahead, but 10 minutes prior there is a better chance.

Same mentality applies to trading.

Trust me this is the way it works.

marketsurfer · Nov 25, 2007

Quote from stock777:

I believe the constant reference to the market as random is counter productive.

There's very little that's actually random about it.

Your limited intelligence/information creates the illusion of randomness.

Accept that and maybe you can move on.

no offense, but i thought the randomness created the illusion of information and intelligence.

seriously, as unfortunate as the reality is, 99% of us are noise traders without information.

if you think otherwise, unless you actually possess real information, you are deluded.

surf

stock777 · Nov 26, 2007

It's not about whether I or you possess anything.

An eclipse is random to a pre literate cave man.

Most traders wear hides.

"Damn , IB is down again"

MarkBrown · Nov 26, 2007

fact: markets are not random, only the people trading them are random. test: surely someone has made a profitable trade here, right? ok then why don't you just keep doing what you did to win and own the world by now? see: most all, really have no solid clue what it takes to make money trading the markets. and: so everyone keeps randomly taking shots trying to replicate the success they once had. all: without completely understanding how they did it in the first place. so: when they fail now all of a sudden "the markets are random".

mb

marketsurfer · Nov 26, 2007

Quote from MarkBrown:

fact: markets are not random, only the people trading them are random. test: surely someone has made a profitable trade here, right? ok then why don't you just keep doing what you did to win and own the world by now? see: most all, really have no solid clue what it takes to make money trading the markets. and: so everyone keeps randomly taking shots trying to replicate the success they once had. all: without completely understanding how they did it in the first place. so: when they fail now all of a sudden "the markets are random".

mb

, so all the random imputs ( traders) creates predictable order, is that what the cray computer says??

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ProfLogic · Nov 26, 2007

Quote from oddiduro:

" The single hardest thing I have to do to make people understand how I trade is to convince them how wrong I can be about things, how much of a guess it is. They think there's some magic involved and that it's not just trial and error."--Dennis Rich, The Complete Turtle Trader, pg 62.

One man's opinion of his own personal trading environment. What else could he say. It is his truth. He believes it because it is true for him and the way he trades. That doesn't make it true for the rest of us because we don't trade in his environment.

We trade charts of markets NOT markets where charts are incidental.

The majority of the world KNEW the planet was FLAT until discover proved it wrong. Some died believing that the world was still flat because they never experienced the REAL TRUTH.