Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: wildandwonderful who wrote (11946)	9/24/2008 8:38:26 AM
From: SliderOnTheBlack	2 Recommendations Respond to of 50507

re:[Slider you have hit the nail on the head. I learnt this through the school of hard knocks after the tech bubble burst."] You and I must of attended the same school <vbg>. My hard knocks were learned in the Oilpatch/OSX meltdown during the summer of 1998. The OSX collapsed from 120ish down to 35. Did so as backlogs grew. Did so as earnings ramped (RIG collapsed directly into an earnings explosion). Ah the days of Friede Goldman & Falcon Drilling... Now that was the "old" but not so wise Slider. I made many mistakes, most that could be made in fact, but very few of them did I make twice. I was guilty of information overload. Couldn't get enough good news, couldn't read enough blue-sky Sinclair-esque Oil bull news, and research... It always felt like I was surrounding myself with used car salesmen. Knew they were only telling me what I wanted to hear. ...but, I learned. A hard, and costly lesson. But, better sooner, than later. My trading-life changed when I quit seeking out the permabull research, and went knockin' on the doors of real traders. Long - short traders. Met a few guys who worked for some top hedge funds, some aces in the commodity pits, and some offshore pirates (a long story there). Learned that long only trading is like trying to win a football game by only playing offense, or a fight with one arm tied behind your back. ...changed my life (and my income). Traders -- not Pundits. Scouts -- not Cheerleaders. Mo later, S.O.T.B.