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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Knighty Tin who wrote (9781)7/24/2004 3:22:55 PM
From: Wyätt Gwyön  Read Replies (1) of 116555
 
everyone I've known in the past who took huge risk for a large number of small gains ended up ruined.

that is exactly the opinion presented in Taleb's "Fooled By Randomness". also, Niederhoffer's book is a good example of being on the "receiving end".

One problem is gap moves

and another problem is liquidity (which is more variable than "sophisticated mathematical models" assume), and another problem (if you're a big enough fish) is that once word gets out that you're having problems, other market participants can front run you, exacerbating losses.
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