Why most money-managers say they don't believe in market timing?

Discussion in 'Trading' started by crgarcia, Mar 26, 2007.

  1. I don't see anything wrong with books.

    You can read books writen by Warren Buffett, George Soros, -the real- Paul Tudor Jones etc., while you can't receive classes from them.
    #11     Mar 29, 2007
  2. I think you just have to pick your spots -- there are ways to make money trading, there are ways to make money fundamentally -- there is more than one way to skin a cat, period.

    Is a person an idiot because they pursued a CFA/MBA and took a high paying job? No. Is a person an idiot because they came up with a trading system that prints cash? No. Is a person an idiot because they have no formal system, but have made a living scalping day-in-day-out on the floor? What about a structured products trader that puts together complex near-arbitrages? What about a long-term buy and hold investor? If they all make money, what is the point in basing them?

    Simply putting someone down because of their chosen path is off the mark -- life, like the markets, is more complex than that.
    #12     Mar 29, 2007

  3. Really? So none of these courses offered by Columbia GSB would be of any help managing money whatsoever? Wow, I guess Julian Robertson, Mario Gabelli, Warren Buffett, Seth Klarman, Leon Cooperman, Jim Rogers and Joel Greenblatt are all wasting their time showing up as guest lecturers. If only they could get some people who DID know something about managing money!


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    #13     Mar 29, 2007
  4. gaj


    there's two distinctions here:

    -> having an MBA/CFA doesn't mean you can trade. (or any of the series X tests, etc.)
    -> trading doesn't mean you can get an MBA.

    one of the best teachers i ever had was the COO of a major fortune 500 company. my section at the masters level (no MBA, but i had core courses in an MBA) was outstanding, and i learned so much from that class, how to present in front of boards, etc.

    the other section - taught by a teacher with no similar experience - was, according to people in that class, one of the WORST classes they had ever taken, regurgitating from the textbook.
    #14     Mar 29, 2007
  5. timbo


    Return is suboptimum. Variance is optimal.
    #15     Mar 29, 2007
  6. If you want to learn how to trade you need to be very diciplined and not give in to greed or fear. Few people can do this.
    #16     Mar 30, 2007