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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (15070)	3/21/1998 1:39:00 PM
From: Bilow	Read Replies (3) \| Respond to of 18056

Hi rrman; I thought I'd comment on gambling and stocks, but it seems a little too far from the purpose of the Mohan thread. I don't get a thrill by buying lottery tickets or whatever, either. I hope this is a sign that I am suited for trading for a living. But a couple of the other students got into a conversation with another guy, (who had already blown through his account and is now in a different side of the business) about trips to Lost Wages. They were going on about which slot machines have the best payoff, etc. The guy who runs the class is young but a survivor, though without the years of experience you have. During this conversation, we looked at each other and just shook our heads. It was clear to me that these guys were gambling addicts and would be a real wealth hazard on the trading floor. Traders need to be risk averse, so if someone likes to go to Las Vegas to gamble, (as opposed to visiting the brothels, or watching the shows,) then I think they will have to exercise more than the usual amount of self discipline while trading. I read Blood in the Water, which is about the derivatives trade, and a lot of the professionals seemed to also have a fascination with small time gambling. Also Neidermeyer(sp?)'s book, Education of a Speculator has the same observation. Of course, now he's out of the market, having sold index puts on an unfortunate morning this past October, and the derivatives people are largely in flames from the SEA problem. -- Carl P.S. I really don't think LTS is that much more rude than average around here. On the other hand, he is incredibly, almost unrelievably boring, never has anything to say, new or old, is a unrepentant nit picker, is quite hypocritical about insults, has very little self control, and uses way too many words to say what he means.