former-ABC
投机如同火中取粟
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靠股票赚钱真的不像相信中那么舒服：
from: http://www.thekirkreport.com/2005/05/trading_for_a_l.html
A major disadvantage of trading for a living is that the bulk of your work time is in complete solitary. For some people, that is too difficult to bear. But having grown up as an only-child with no brothers and sisters and being very independent in general, I have the right personalty makeup that thrives in a solitary working environment. As a child, I could play for days without anyone around and be very happy. As an adult, I do the same thing with my own work, much to the amazement of those who actually understand what I do for a living.
That being said, trading is still a very lonely pursuit, which is why having this website is still very worthwhile. I not only have a soapbox on which to share my thoughts, views, and also emotions, but I also get to know many of you who read the website. In many ways, having this forum helps me. I not only to learn from my mistakes (which are documented here in excruciating detail), but also I gain because I know from your email that I've been of great help to many of you and many of you share your own thoughts and strategies with me in return. As you can imagine, I frequently share in readers own successes, and well as failures, and in just about every way possible, the solitary nature of trading for a living is not present for me. In sum, that makes what I do at the website more than a little worthwhile.
So, how can you make trading for a living a better experience? If you don't want to blog or share your views in public, I think it is still a good idea to share the experience with others. That doesn't mean with your spouse who often is too biased to provide valuable input. For example, my wife and I have a rule that we don't talk about the market or stocks in general. From what I know from others who have spouses as back-seat portfolio managers, it is a very rare occurrence to find a successful husband-wife stock picking team that performs really well. I think it has much to do with the combination of money, stress, priorities, and different personalities that frequently make up a husband and wife team. Marriage is challenging enough without that tension, and that comes from someone who has been very happily married for the past 12 years.
In addition, I've also never really subscribed to the theory that successful stock-picking can be done by committee, which is why I've always avoided the investment club route. Some people love them, but I never thought I could learn much from people who were more clueless about the market than I was. In addition, the notion that a majority of people could be right, even in small groups, goes against my contrarian nature when approaching the market. While I'm sure there are some exceptions to the rule (there always are), I don't recommend going that way unless, of course, you really are the dumbest, most unskilled person in the room. In those cases, you may actually learn a few things.
Which brings up a very important point. You've got to be very selective on who you look to learn from in this business. For this reason, it has been years since I've visited an internet chat room or online message board. That's also one of the reasons why you'll never see a message board or chat room at this website, because I don't advocate their use. Sure, there are a few exceptions, but they are well in the minority.
As you can probably guess by now, I subscribe completely to the theory that if you want to become intelligent, then you need to hang out with people smarter than you. Unfortunately, those who know their stuff in this business are not readily accessible as they're too busy making money. I know this from personal experience, since I've also consistently tried to make the connections with money managers who I respect who don't have the time (or motivation) to respond to my emails. Sure, there are some exceptions to this rule, but in general those who are in the know, won't let you into their inner circle unless they gain something bigger in return.
Unfortunately, the vast majority of people who do offer their views about the market, couldn't trade their way out of a paper bag, nevertheless beat the market on any consistent basis. The newsletter gurus are particularly guilty of this phenomenon, because the vast majority of those folks need to sell newsletter subscriptions in order to make a consistent living. After all, that's the primary motivation for them going into that business to begin with. If they were truly consistently successful in the market, why would they even think about taking time to sell newsletter subscriptions? They'd be enjoying the good life by now!
That's one of the main reasons I left that business long-ago, because I had absolutely no desire to be a part of that kind of slimy industry any longer. Sure, there are a few exceptions, but in general, those folks are just as clueless as the rest of us. The quicker you learn that and the less you pay up for their services, the better off you and your portfolio will be. Many people will hate me for saying that, but that is the way it is. But, in a time when so many investors look only for easy fixes and get-rich solutions, the newsletter industry will always have an audience and customers to support them. But, if you're really interested in success for the long-term, don't waste your time making the focus of your strategy to follow others, because you won't like the road they're going to take you on.
The good news is that the internet is filled with people more than willing to share their own thoughts and views as well as strategies to investing and trading stocks. With the amazing growth in blogs, which makes sharing the process easier than it ever has been before, the tides are quickly changing so that those without profit-motives as their number one goal are sharing their views in an effort to inform and educate. In fact, I've been told by more than a few people that I have inspired them to share their journey with others, and in many ways, I can't be paid any higher compliment. That means I've made a difference in this world, and as a someone who plays the zero sum game for a living, that is awesome.
While this game is tough filled with people who want to clean your clock and empty your pockets in more ways than one, there are exceptions to the rule and the real opportunity in stock-market blogs by individuals who actually desire to help others is a powerful trend that I hope is here to stay. As always, I'll do my part to share what I think who offers value and avoid those who don't, and perhaps entertain and inform you along the way. And, as always, thank you for being here and taking the time to share your experiences with me!
from: http://www.thekirkreport.com/2005/05/trading_for_a_l.html
A major disadvantage of trading for a living is that the bulk of your work time is in complete solitary. For some people, that is too difficult to bear. But having grown up as an only-child with no brothers and sisters and being very independent in general, I have the right personalty makeup that thrives in a solitary working environment. As a child, I could play for days without anyone around and be very happy. As an adult, I do the same thing with my own work, much to the amazement of those who actually understand what I do for a living.
That being said, trading is still a very lonely pursuit, which is why having this website is still very worthwhile. I not only have a soapbox on which to share my thoughts, views, and also emotions, but I also get to know many of you who read the website. In many ways, having this forum helps me. I not only to learn from my mistakes (which are documented here in excruciating detail), but also I gain because I know from your email that I've been of great help to many of you and many of you share your own thoughts and strategies with me in return. As you can imagine, I frequently share in readers own successes, and well as failures, and in just about every way possible, the solitary nature of trading for a living is not present for me. In sum, that makes what I do at the website more than a little worthwhile.
So, how can you make trading for a living a better experience? If you don't want to blog or share your views in public, I think it is still a good idea to share the experience with others. That doesn't mean with your spouse who often is too biased to provide valuable input. For example, my wife and I have a rule that we don't talk about the market or stocks in general. From what I know from others who have spouses as back-seat portfolio managers, it is a very rare occurrence to find a successful husband-wife stock picking team that performs really well. I think it has much to do with the combination of money, stress, priorities, and different personalities that frequently make up a husband and wife team. Marriage is challenging enough without that tension, and that comes from someone who has been very happily married for the past 12 years.
In addition, I've also never really subscribed to the theory that successful stock-picking can be done by committee, which is why I've always avoided the investment club route. Some people love them, but I never thought I could learn much from people who were more clueless about the market than I was. In addition, the notion that a majority of people could be right, even in small groups, goes against my contrarian nature when approaching the market. While I'm sure there are some exceptions to the rule (there always are), I don't recommend going that way unless, of course, you really are the dumbest, most unskilled person in the room. In those cases, you may actually learn a few things.
Which brings up a very important point. You've got to be very selective on who you look to learn from in this business. For this reason, it has been years since I've visited an internet chat room or online message board. That's also one of the reasons why you'll never see a message board or chat room at this website, because I don't advocate their use. Sure, there are a few exceptions, but they are well in the minority.
As you can probably guess by now, I subscribe completely to the theory that if you want to become intelligent, then you need to hang out with people smarter than you. Unfortunately, those who know their stuff in this business are not readily accessible as they're too busy making money. I know this from personal experience, since I've also consistently tried to make the connections with money managers who I respect who don't have the time (or motivation) to respond to my emails. Sure, there are some exceptions to this rule, but in general those who are in the know, won't let you into their inner circle unless they gain something bigger in return.
Unfortunately, the vast majority of people who do offer their views about the market, couldn't trade their way out of a paper bag, nevertheless beat the market on any consistent basis. The newsletter gurus are particularly guilty of this phenomenon, because the vast majority of those folks need to sell newsletter subscriptions in order to make a consistent living. After all, that's the primary motivation for them going into that business to begin with. If they were truly consistently successful in the market, why would they even think about taking time to sell newsletter subscriptions? They'd be enjoying the good life by now!
That's one of the main reasons I left that business long-ago, because I had absolutely no desire to be a part of that kind of slimy industry any longer. Sure, there are a few exceptions, but in general, those folks are just as clueless as the rest of us. The quicker you learn that and the less you pay up for their services, the better off you and your portfolio will be. Many people will hate me for saying that, but that is the way it is. But, in a time when so many investors look only for easy fixes and get-rich solutions, the newsletter industry will always have an audience and customers to support them. But, if you're really interested in success for the long-term, don't waste your time making the focus of your strategy to follow others, because you won't like the road they're going to take you on.
The good news is that the internet is filled with people more than willing to share their own thoughts and views as well as strategies to investing and trading stocks. With the amazing growth in blogs, which makes sharing the process easier than it ever has been before, the tides are quickly changing so that those without profit-motives as their number one goal are sharing their views in an effort to inform and educate. In fact, I've been told by more than a few people that I have inspired them to share their journey with others, and in many ways, I can't be paid any higher compliment. That means I've made a difference in this world, and as a someone who plays the zero sum game for a living, that is awesome.
While this game is tough filled with people who want to clean your clock and empty your pockets in more ways than one, there are exceptions to the rule and the real opportunity in stock-market blogs by individuals who actually desire to help others is a powerful trend that I hope is here to stay. As always, I'll do my part to share what I think who offers value and avoid those who don't, and perhaps entertain and inform you along the way. And, as always, thank you for being here and taking the time to share your experiences with me!
