Discussion in 'Professional Trading' started by nkhoi, Apr 12, 2008.
A Conversation with Larry Williams
thanks for sharing, I always like Larry William's thesis and writing
"How I Once Won A Single Trading Contest Under Murky Circumstances over Two Decades Ago And Have Milked It Into A Vendor Career Without Ever Having To 'Prove' Myself Again: Isn't It Marvelous How The Questionable Stuff Was Just Swept Under The Rug While The Shiny Button That It Produced (And That Newbs Immediately Fixate On) Was Aggrandized Into The Stratosphere?"
- only $9.95
doesn't sound like "Swept Under The Rug"
Don't forget "my daughter won the very same contest and went on to be an oscar nominated actress!"
Don't be coy. I refer to the simultaneous gutting of his funds under management while his personal account was flourishing. As I had repeatedly suggested, one interpretation of this strikingly coincidental extreme is that these events are not independent of one another and are, potentially, opposite sides of the same coin, particularly in the face of lax time stamp issues in those days. Because such "details" are far better monitored today, I surmise that Larry will never attempt participating in such a contest ever again. And if he did (and I wish he would), his invariable performance will no longer be the stuff of legend. That's why he continues to milk a "contest" over 2 decades old.
Nkhoi, methinks thou art a Believer. Good luck with that.
Or another personal favorite, the mystery bestseller:
"How My Dilettante Trader Daughter Won A Trading Contest While None Of My Countless Seminar Attendees Who Spent Thousands And Thousands Of Dollars And Years Of Their Lives Learning My Methods Never Even Came Close."
"Things That Don't Pass The Smell Test: Using Your Brain For Fun And Profit."
Hey if I did seminars I would charge a high fee too, I wouldn't want pikers joining in.
True story about LW.
In 1973 or 1974 when I was a budding commodities broker I had a client who lived next to LW in Carmel, CA. This dude passed all my trades by LW.
I just put on a short Soybean trade and a day later LW called me up. He said: "your trade very well may work out but I want you to know beans are going to the stratosphere soon".
He was 100% correct because a week later beans started their biggest run.
Never estimate old timers. The comment by an OP about him winning a marginal contest is plain misleading. In a Robbins contest he turned 10K to 1mil.
I challenge anyone to duplicate that.
Actually someone did, one of our presidential candidates who turned 1K into 100K in Cattle futures a few years later. When asked how she did it, in the WSJ interview, she said she has read the Journal daily. Sell that to money managers who are struggling to get their return to the low double digits.
This was when commodity futures trades in branch offices were allocated manually, sometimes at the end of the day. I imagine the broker also handled the accounts of one of the large Cattle feeders in Arkansas.
larry is such b.s.
Separate names with a comma.