What I am saying is, the market is just a bunch of blinking lights on a computer screen. Up or down, good days or bad, your account is just a bunch of numbers. It is not life. It is not who we are. It does not define who we are. As Larry Miller once said, If you are healthy, if you have somebody who loves you, if you are able to get up out of bed in the morning and make your own coffee, the game is over — and you have won.
Archives of “coffee” tag
rssA Venerable Technique of Jesse Livermore
One of intelligent honest things that Livermore did was to get out of one market by selling a related market, inducing the other traders to think that there was weakness in one market which would carry over to the related market. The art of indirection and letting people use their own intelligence and inferences to come to their own conclusion. for example if he wanted to get out of cotton, he’d sell some coffee. If he wanted to get out of a common, he’s sell the preferred or a related company that owned a big chunk of it, like sell Christiana which owned general motors et al. This technique one wonders how often is it used today. When it happens, is it artful indirection or chance? How to quantify and what predictions to be made? Would the robots be smart enough to do this?