I didn't mean to sound snippy - just a little surprised at the attitude of hand waving dismissal. I have a gigantic Perry Kaufman book on my shelf (Trading Systems and Methods) that goes into system development in excruciating detail. I never got much out of it, but that doesn't mean it's not an excellent resource for mechanical traders. So I think the difference of opinion is philosophical, regarding subjective vs objective value. Which I may have stated a bit too peevishly.
I've been reading some of his columns on MSN Money and he mentioned that Soros doesn't want to talk to him anymore. Was there some sort of falling between them before he left Soros Fund Management?
One of the photos provides a message (to remind himself ?, and us as well!): "LOSERS AVERAGE LOSERS".
Okay, I'm really a loser cuzz I can't quite figure out what that means. And I don't hear the sound of one hand clapping either...
Losers - traders who lose money Average - buy more to lower the average price of Losers - trades that are unprofitable
Hi Curtis, that information certainly makes a lot of sense and explains why Dennis did what he did. Although I'm curious I certainly don't want to pry, so don't answer if you think this is off limits, but why did you drop trading after you had turned USD 2 million into 32 million within 4 years, you must have had the confidence that what you are doing works, and even if the compounding rate were to subsequently have slowed down quite a bit as your equity grew larger and larger, you would still have had a very good shot at becoming a centimillionaire a few times over, if not more. Was trading back then more a job than a passion for you ? Although it's also pretty clear that by anybody's standard your share of USD 32 million worth of 70's money would have been enough to satisfy most needs and passions. Regards, Tiger