SAC"s DEMARK finally speaks!

Discussion in 'Wall St. News' started by marketsurfer, Jul 18, 2008.

  1. <i>"by the way, i am not passing judgement on any trader or manager, merely asking questions about method that I believe is sub par and over hyped."</i>

    I had the chance to spend several hours with DeMark back in 2001, working with him on someone else's project. My take on him is an absolutely brilliant mind, very strong math skills and totally obsessed with financial markets. It is, by admission, his sole focus in life.

    He also has a machine-gun style of thinking and speaking which is tough to keep up with. I suspect he's not real strong in the intensive patience & focus aspect of executing trades. Knowing what to do and being able to execute all aspects is the difference between Tiger Wood's swing coach, and Tiger Woods.

    As for trend following? It is <b>the only way</b> long term gains are made AND kept. For sure the counter-trend gang can and do have periods of success, some of it impressive. But... over the course of time, it all flows back to the market. Only by realizing bigger reward than risk taken is it possible to last for years or decades. No other style has ever been proven in real time with real money... in spite of what you may hear / read that is not supported with real-money proof to validate rhetoric.

    Trend faders, average-down players, inverted risk to reward gang all fail sooner or later. The only way to succeed long term is by trading much bigger wins than losses. The only way to accomplish that is by finding and following price "trends"... be they seconds, minutes, hours, days or weeks in duration.
     
    #31     Jul 19, 2008
  2. Don't know much about DeMark. In fact, I got a couple of his books laying in my office somewhere that I only skimmed through, never read.

    But I gotta tell you, I'm pretty impressed with PTJ and his results. I'm also impressed with SAC. Not sure how or why anyone would knock these guys.

    I thought the article was an interesting article. I agree that fundamentals move the market....and therefore should have a place in every traders arsenal. I pay alot of attention to fundamentals. Likewise, all the bottom and top pickers obviously need to ride the trend at some point...otherwise, it's not worthwhile picking the top/bottom.

    OldTrader
     
    #32     Jul 19, 2008
  3. Casey30

    Casey30

    Off topic, how is this slim? This is how the markets work. There is a natural pyramid of information, the top dogs all the way down to the retail 100 share investors. If I am buying a block, I want the best price no matter what, don't you? If you make money trading doesn't someone else lose? If that is correct ehn who cares what SAC does. If they don't do it someone else will. If you don't buy that stock at XX price someone else will.
     
    #33     Jul 19, 2008
  4. makloda, is this information from a public site? Thanks, dtrader.
     
    #34     Jul 19, 2008
  5. Surdo

    Surdo

    When the one institution manipulates the price of a stock during the negotiation process of 7 figures between 2 other institutions so he can buy his 25K on a cleanup cheaper after he ran ahead of the print, is this ok with you? This is assuming you have worked on an institutional desk and understand what I am talking about.

    Stevie Cohen is nothing but a bottom feeder, the biggest.
     
    #36     Jul 19, 2008
  6. EPrado

    EPrado

    No...SAC doesnt recieve inside info/calls from firms before upgrades.

    That's right up there with the existence of the easter bunny.....Santa Claus..........................
     
    #37     Jul 19, 2008
  7. chch66

    chch66

    Tokyo,

    I would rethink Richard Dennis in your inclusion of the traders you mention. He blew up his first fund through Drexel 20 years ago...then relaunched in 2003 with 10mm under management through Mesirow Financial in Chicago.

    He made +38% the first 9 weeks of trading...and was shut down at -35% 14 weeks later.

    He has given back massive sums of his onetime vast fortune.
     
    #38     Jul 19, 2008
  8. "Steve (Cohen) is definitely the best trader. He doesn't have that high a success rate. It's his disposition, he was built for trading. You can't describe it. The ability is something innate"

    I completely agree
     
    #39     Jul 19, 2008
  9. #40     Jul 19, 2008