I admire Darvas. Because he was a professional dancer he was on the road a lot and sometimes he was unable to contact his broker for weeks yet he figured out a way to make his investments grow and pass on his method. When I see hip people in NYC clutching a water bottle as if they would die from thirst without it before they reach the next corner the Bedouins in the Sahara come to my mind. When I see and hear media implying one needing to be equipped with gadgets to make split second decisions about one's investments in any everyday situation Darvas comes to my mind.
Really?Interestingly, the link what YOU provided proves the opposite: "sent him to Paris in 1927, to work as a broker. There he began his career as a speculator and arbitrageur. He was able to make a profit of the decline in market prices which began in the end of 1929, having been bearish at the time. " " His fame was founded in the vast amount of practical experience he had accumulated during his 70 year career, in different trades, in many markets around the world. "
Good post, guru. In an interview to author John Du Rand (circa 1923), Jesse Livermore spoke about his hero in trading. It was some guy who lived in a remote location in the mountains of Northern California and based his trading decisions solely upon three day old stock quotes. About four times a year that guy would come down to San Francisco to place his orders with his broker. He himself ascribed his great success in trading to having placed himself away from the temptation of having to make split-second decisions. My own fairly long experience in the markets supports this viewpoint - though it took me many years and much money to see the wisdom of this approach. Even in intra-day trading, the largest chunks of money I make are generally not because I made an entry before others did but because I sat tight with winning positions without the anxiety of having to give profits back to the market. Happy Holidays to all.