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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (67851)	8/9/2006 10:16:12 PM
From: yard_man	Read Replies (1) \| Respond to of 110194

>>I think there are a lot of people who think things through but then base their actions on hunches or superstitions, gut feelings, etc. Kind of defeats the purpose. Investing is a good example of that sort of divergence.<< Well ... all investing does involve speculation to some extent. I know some don't believe this, but just because a company has steady and growing earnings -- even, extrapolating that with some reasonable assumptions involves speculation, right? And then there are the particulars -- you can have the big picture right, and even some good t/a, but choosing when to enter/exit a trade ... I admit, I use the gut feel.

To: benwood who wrote (67851)	8/10/2006 2:15:59 AM
From: shades	Respond to of 110194

Allegory of the Cave The philosophy/ethics classes in college were entertaining - especially for the professors who were passionately trying to teach critical thinking and 99% of the students who were only thinking about the next keg party or sexcapade! HAHA! I liked reading david hume. You know one of the highest IQ people in america works as a bouncer in a niteclub - he has no wealth to speak of - what does he know? I think there are a lot of people who think things through but then base their actions on hunches or superstitions, gut feelings, etc. Kind of defeats the purpose. Investing is a good example of that sort of divergence. The proof is right here on this thread - Baldie is still shorting his hair out when he already had great experience to teach him to the contraty - trump on the 3rd marriage! Phil harps on this day after day - how behavioral finance experts have studied the madness of herds and how wall street sucks in the most suckers at exactly the worst times to hurt the majority. He has shown time and again how people chase these sucker rallies wanting to get in with the rest of the herd! He was amazed the FED IS DONE rally sucked in so many for so long. Look J5P doesn't have nearly the AI tools or Psychology/Psychiatry experts that wall street has working to milk them - sometimes the only way to win at a casino is simply not to walk in. Russ is mostly out of equities eh? What was the old wargames quote about global thermal nuclear war - Professor Falken - the only way to win is not to play.