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.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: HH who wrote (18713)	5/19/1998 12:47:00 PM
From: Robert Graham	Respond to of 94695

Thank you for your feedback. Yes, there have been many stock pickers born, and many closet stock pickers coming out and playing some serious money. A person I met in Phoenix went to an educational seminar on option trading. I am sure many of these people were first-timers to the market. The instructor would show live option transactions for his class to see. At each break, many would rush out to the phones to imitate their instructor by plcaing an order with their broker. Two from that seminar are husband and wife who are now avidly writing options together. I guess if they lose out, there will not be one spouse that can blame the other for their misfortunes. I am sure due to their lake of understanding of the market and the newness and excitement of their pursuit, it is more like a monopoly game to them with serious money being used. I have a freind whose father was one of the more promonent AFL-CIO negotiators. His favorite expression is that "people are goofy". This is where he goes in to negotiate a contract where the union membership had low expectations over the outcome of a difficult negotiation process with management. He comes back with a contract win that goes well beyond all the membership's expectations. So next they want to send him back for a better contract even though the contract can stand on its own as a very good win for the membership. After all, if they can get THIS much, then they should be even able to get MORE. Sounds familliar?? People are definitely "goofy" in their pursuit of money. Particularly if they are buffered from the risks associated with their pursuit either due to their ignorance, or their exhuberant sentiment in anticipation of the riches that are waiting just for them. I think experience is the differentiator here. Bob Graham