Who would buy a tulip 1 million dollar today ?

For Charles Mackay's book online text can be downloaded here:

ftp://sunsite.unc.edu/pub/docs/books/gutenberg/etext96/ppdel10.txt harrytrader2000 Edit Delete Cut
vol 2

ftp://sunsite.unc.edu/pub/docs/books/gutenberg/etext96/2ppdl10.txt harrytrader2000 Edit Delete Cut
vol 3

ftp://sunsite.unc.edu/pub/docs/books/gutenberg/etext97/3ppdl10.txt


Quote from RAMOUTAR:



"Those who do not understand history are doomed to repeat it." That's opne of the greatest things about history. So many of the world's greatest generals have all read Sun Tzu's Art of War. Many people couldn't understand why I recommended one of Charles Mackay's greatest pieces. Extraordinary Popular Delusions... became a "bible" of my trading faith. I read that book for the first time in 1990, and I really didn't understand it's meaning until the market whipped me.

Another great quote from that booko:

"Subscribers here by thousands float, and jostle one another down, Each paddling in his leaky boat, and here they fish for gold and drown. Now buried in the depths below. New mounted up to heaven again, they reel and stagger to and fro, At their wits' end. like drunken men. Meantime, secure on Garraway cliffs, A savage race, by shipwrecks fed, Lie waiting for the foundered skiffs, and strip the bodies of the dead."

Framed and in my office.


Be well.
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Gann: it's unhappy that this guy is so esoteric if not so I would like him very much :D. At least there is one part of him that stayed rational since he said he had discovered the equations of demand of offer but that he never revealed even to his associates. I suppose it is the same kind of equations than mine because there can't be many fondamentally. So I think that he only released properties of these equations in his seminar (sold 35000$ if I remember :D ) and hide them behind "sacred geometry" whereas it should be as sacred as the rabbit reproduction sequence :D.

Nevertheless apart from some nonsense that is too esoterical and that I filter I like to read Gann because there is true observations of market from him that I find interesting. And perhaps unconsciously he inspired me. I already said even Science can find inspiration in esoteric thing nevertheless science is only science when it can be rationalised. Knowledge cannot be reduced to Science perhaps but if one want qualify something as science it must accept the constraint of its strict protocol.

Quote from oddiduro:



Gann said the same thing, essentially.
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I am preparing to do like him: beat the record of consecutive winning trades not in scalp which would be too easy but in swing (a win/loss ratio above 3 and often much more). But I must train before. He did it on commodities and on daily scale, I'm not accustomed to daily scale enough so I would do it on intraday scales rather and later years I would do it on daily scales. And by consecutive I mean truly consecutive in time not trading diversified contracts which I would consider as cheating because it is not really consecutive then.

Quote from harrytrader:

Gann: it's unhappy that this guy is so esoteric if not so I would like him very much :D. At least there is one part of him that stayed rational since he said he had discovered the equations of demand of offer but that he never revealed even to his associates. I suppose it is the same kind of equations than mine because there can't be many fondamentally. So I think that he only released properties of these equations in his seminar (sold 35000$ if I remember :D ) and hide them behind "sacred geometry" whereas it should be as sacred as the rabbit reproduction sequence :D.

Nevertheless apart from some nonsense that is too esoterical and that I filter I like to read Gann because there is true observations of market from him that I find interesting. And perhaps unconsciously he inspired me. I already said even Science can find inspiration in esoteric thing nevertheless science is only science when it can be rationalised. Knowledge cannot be reduced to Science perhaps but if one want qualify something as science it must accept the constraint of its strict protocol.

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Quote from RAMOUTAR:



"Those who do not understand history are doomed to repeat it."
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It's going to repeat eventually anyhow, might as well study history to learn how best to benefit from the current phase

Max
 
I never use to like history, but since I've been in stocks/options, market history is fascinating.

Why would someone pay $1 million for a tulip? Why would people pay thousands for a "rare" beanie baby? It all comes down to market dynamics and crowd behavior. The more things change, the more they stay the same.
 
Quote from harrytrader:

At the height of the tulip bubble about 350 years ago, the rare Semper Augustus flower was worth 6 000 florins approximately 1 million dollar in today's money.

In 100 years the next generation would perhaps ask who would buy an internet dotcom ... or government bonds for 1 billion dollar whereas it was virtually in bankruptcy although nobody dare to tell this truth to the population like in any bubble :D
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You're telling government is the bubble of our times ... ? :confused:


ttrader
 
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