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Pastimes : FLAME THREAD - Post all obnoxious/derogatory comments here -- Ignore unavailable to you. Want to Upgrade?

To: Blue On Black who wrote (3920)	3/26/1998 11:49:00 PM
From: Druss	Read Replies (2) \| Respond to of 12754

To All: The recent homage to our Eastern brethren brings to mind one of my market idols. The legendary Chu Mei Ash was born in Shoganate Japan and was one of the first known shorts and Candlestick traders. Chu Mei established an early reputation as a trader going long but when he began to short he became the acknowledged master of the market. He became one of the richest men in Japan. His market skills attracted the attention of the Shogun. The Shogun as they are prone to be was short of cash and sought to gain access to Chi Mei's market skills. To do this he sent his youngest daughter Itchi Loos Won to learn his techniques. Itchi however had lived a sheltered life that had not agreed with her. On meeting the handsome Chi Mei she promptly sought lessons of another sort. Though details are understandably sketchy it now seems certain that Chi Mei took time off from his shorting lessons to go long on Itchi. Unfortunately this investment was to pay a dividend and had tragic consequences when the Shogun noticed the change in her profile. Chu Mei was brought before the equivilant of the SEC and his assets seized and his account terminated. Thus ended one of the great early traders. We are fortunate that we do have a legacy of his works. Chu Mei wrote two books; 'Candlestick Shorts' and 'Zen of Shorting'. Candlestick shorts reveals many of the patterns that Chu Mei was the first to recognize: The Dying Dog, Hungry Vulture, Wingless Bird, and the definitive Kicked Crotch. However his second work 'Zen of Shorting' lives as a classic of literature. The work is a compilation of many interviews and questions posed to the great master over his market career. The most famous of all of his answers is the response to the following question posed by a shill of a rival trader who had often felt the barb of Chi Mei's shorts. "Master, when shorting is it not true that your actions drive down the price thus forcing on to the streets many widows and orphans?" Chu Mei replied, "Suc mei dic, muchi yen." This is most closely translated as "I made 65% last year while you were engaging in carnal relations with goats." A perceptive, and heartfelt explanation for shorting that has passed the test of time.