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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (94363)2/4/2002 9:29:46 AM
From: Bilow  Read Replies (1) of 132070
 
Hi Knighty Tin; Re: "I still believe that it is not the stock or option picks that break people, but their money management discipline. Most simply have none. And that applies to many pro managers, too."

You're exactly right.

At the very least, if they used money (risk) management theory they'd still have some of their initial capital around after the big draw downs caused by the fact that their trading schemes don't work. But even if their systems were theoretically profitable they'd still bust out because of the money management issues.

-- Carl
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