"Something just doesnt add up with all of this...."
Here's a short story......
Around '61 or so I was just settling into a life in Greenwich, Conn.
As it goes, there are seasonal parties and people do meet people while grazing and imbibing. A broad mix of types.
I meet a guy who was tall and suave and well spoken....
After a while I knew what he did and in passing he did inquire of my vocation. I failed his test up to the point where I said I did what he did but just as an avocation to pass the spare time I had in the work I was doing.
He's a pro like you are speaking of and I am just an amateur.
We kept in touch over the years.
Early on was was asked to contribute to his operations. So I did.
They paid portal to portal from Greenwich to NYC or any other place where I spent time. (sleeping time included).
All I can say it that there is a mystic about providing white papers that are acted upon. I never provided any, mind you, I just critiqued them and "fixed" them.
Its like a big effort almost around the clock gets a draft ready for timely distribution and chacks come back if the info is acted upon.
I am asked to review the draft. I cannot imagine how the workers came to their viewpoints and how all the data they asembled says to do this or that. It is like a disconnect from reality.
I never had to aurgue for my points and revisions; they just flew.
Naturally you can say " Hershey that why the users never made any money with the white papaers. But they did!! And it was an anomoly that they did in that shop. I was narrow in those days because everything about position trading was done by hand. I just did trading in about four sectors that invloved primary industries. There was always action in one or more.
Meetings, luncheons, conferencing, it was all the same. A good colateral example is the business of financial planning for wealthy people. These guys are all licensed too. The ivy league schools are steeped in it.
Look at the top 25 in EMBA (BW) and you can see that even the criteria there is not appropriate.
Also note this week that they commented on hurricaine control (spreading stuff on the water....lol)
What doesn't add up is the way tradition and self selection just creams the possibility of anyone accomplishing anything in the industry.
It is very acceptable to not achieve anything except to perpetuate the status quo.
I designed a handicapping method for the racing committee of the NY Yatch Club one off season. It was deja vu; they just sat there and said "WE can't do that" I paired racing records with boat design; what did it say?.....lol young skippers (all blue bloods) in used boats were out sailing the older skippers with the bright and shinny new boats. Think TJ Watson and Palawan (350k tank testing cost in Holland) against John Marshall and Vat 69 (a used Bounty II).
These parallels are ingrained in the society and who owns the businesses (old money).
You can look at the failure of the recent Greenwich based Nobel loaded whatever and see how traditioal BS sunk it.
Now, you can see that STEVIE has wormed his way onto the local turf but he is an "outsider" player who also can't quite rip it off.
Those oak desks and panelling in Nebraska is not a super game either. OPM is whats makes it tick and it is't notable either.
The third meeting of our local IBD club had its first cycles of "making money" occur. We are meeting every two weeks now. The guys who weren't on paper were turning over 10% a week, they say We work about 3 hours plus a meeting and they just nail the techniques down like it is a fifth grade test on fractions. No one really knows that using todays computers could possibly limit making money in any way. They Just Do It. The lousiest skilled three day trade was 28% and the others (top dogs) were running around 40% a pop in one cycle.
People have told you size is a problem for big money just cause tey are all continually invested. I set a limit of not trading more than 10% of the cummulative daily volume of an issue as an amateur. Obviously I am anything but big money. But I am timely as all get out which is the exact opposite of balancing portfolios.
Why would anyone ever balance a portfolio???
Balance??????
Why??????
Here's a short story......
Around '61 or so I was just settling into a life in Greenwich, Conn.
As it goes, there are seasonal parties and people do meet people while grazing and imbibing. A broad mix of types.
I meet a guy who was tall and suave and well spoken....
After a while I knew what he did and in passing he did inquire of my vocation. I failed his test up to the point where I said I did what he did but just as an avocation to pass the spare time I had in the work I was doing.
He's a pro like you are speaking of and I am just an amateur.
We kept in touch over the years.
Early on was was asked to contribute to his operations. So I did.
They paid portal to portal from Greenwich to NYC or any other place where I spent time. (sleeping time included).
All I can say it that there is a mystic about providing white papers that are acted upon. I never provided any, mind you, I just critiqued them and "fixed" them.
Its like a big effort almost around the clock gets a draft ready for timely distribution and chacks come back if the info is acted upon.
I am asked to review the draft. I cannot imagine how the workers came to their viewpoints and how all the data they asembled says to do this or that. It is like a disconnect from reality.
I never had to aurgue for my points and revisions; they just flew.
Naturally you can say " Hershey that why the users never made any money with the white papaers. But they did!! And it was an anomoly that they did in that shop. I was narrow in those days because everything about position trading was done by hand. I just did trading in about four sectors that invloved primary industries. There was always action in one or more.
Meetings, luncheons, conferencing, it was all the same. A good colateral example is the business of financial planning for wealthy people. These guys are all licensed too. The ivy league schools are steeped in it.
Look at the top 25 in EMBA (BW) and you can see that even the criteria there is not appropriate.
Also note this week that they commented on hurricaine control (spreading stuff on the water....lol)
What doesn't add up is the way tradition and self selection just creams the possibility of anyone accomplishing anything in the industry.
It is very acceptable to not achieve anything except to perpetuate the status quo.
I designed a handicapping method for the racing committee of the NY Yatch Club one off season. It was deja vu; they just sat there and said "WE can't do that" I paired racing records with boat design; what did it say?.....lol young skippers (all blue bloods) in used boats were out sailing the older skippers with the bright and shinny new boats. Think TJ Watson and Palawan (350k tank testing cost in Holland) against John Marshall and Vat 69 (a used Bounty II).
These parallels are ingrained in the society and who owns the businesses (old money).
You can look at the failure of the recent Greenwich based Nobel loaded whatever and see how traditioal BS sunk it.
Now, you can see that STEVIE has wormed his way onto the local turf but he is an "outsider" player who also can't quite rip it off.
Those oak desks and panelling in Nebraska is not a super game either. OPM is whats makes it tick and it is't notable either.
The third meeting of our local IBD club had its first cycles of "making money" occur. We are meeting every two weeks now. The guys who weren't on paper were turning over 10% a week, they say We work about 3 hours plus a meeting and they just nail the techniques down like it is a fifth grade test on fractions. No one really knows that using todays computers could possibly limit making money in any way. They Just Do It. The lousiest skilled three day trade was 28% and the others (top dogs) were running around 40% a pop in one cycle.
People have told you size is a problem for big money just cause tey are all continually invested. I set a limit of not trading more than 10% of the cummulative daily volume of an issue as an amateur. Obviously I am anything but big money. But I am timely as all get out which is the exact opposite of balancing portfolios.
Why would anyone ever balance a portfolio???
Balance??????
Why??????
