First of all, hi everybody and congratulation for this messageboard. I've been a reader for months but now I have a question an maybe somebody can help me. I search for a Ed Seykota Quote where he says something like: "It takes a week to teach novice traders the basics and it takes 3 months to teach them discipline and to follow the rules. " Anybody know how to quote this correct? I've been searching the net for hours but I couldn't find it any more. thx
Forget about that quote! Apparently he's a washed up loser who declared personal bankruptcy and now hawking rip-off snake oil seminars to suckers
good to know that users of this forum do thier own research, don't follow gossip and hearsay, and have the intelligence and foresight to generate thier own opinions. Full on. Take that banana out of your arse. Wanker
It is from the book Trade Your Way to Financial Freedom by Van Tharpe where Ed Seykota talks about his experience of teaching trading course at a college.
Libelous statement(bankruptcy). I cannot believe the stupidty of some people. This is actionable; you've handed him a libel-suit on a silver platter.
Yes. He says that in a 10 week trading course he taught in the 70`s that the first 2 weeks he taught the students the system..and the next 8 weeks teaching them how to trade it and accept the losses.
While I don't think it wise to be making categorical statements without verifying the facts, I don't think this is libelous because a libel must be a statement of fact that is not true. The part about the rip-off snake oil seminar is pretty clearly an opinion rather than a statement of fact, and I believe the part about the personal bankruptcy is true. If it is not true, then there might be libel here, but if he did declare bankruptcy I don't see any libel.
Well in 1980 his accounts made and lost $47 million according to a tax court memorandum document. He basically broke even that year. If he did declare bankruptcy, then it would be a matter of public record.
I was specifically referring to the alleged bankruptcy. Someone in my family knows Ed well, he's never declared bankruptcy. I would imagine his net worth easily exceeds $20mil... The snakeoil comment isn't worth discussing w.r.t. libel, wasn't my point.