Dump it Here

sptrawler said:

I thought the quote, post#663 was better, I made that up also.

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For the benefit of others..

sptrawler said:

Effort should always be applauded, but care should be taken when rewarding mediocrity, lest it becomes the goal.

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Skate.

Effort should always be applauded, but care should be taken when rewarding mediocrity, lest it becomes the goal.

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Cricket Australia take note.

Skate said:

For the benefit of others..

Skate.

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As with most of the posts, found on ASF.

SirRumpole said:

Cricket Australia take note.

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Never a truer word said.
IMO mediocrity is rampant, through Australian society, at the moment. Being brought about by a vocal minority, who demand it be accepted as the norm.
Because it is easily achieved, the masses have no difficulty accepting it and embracing it.

sptrawler said:

Never a truer word said.
IMO mediocrity is rampant, through Australian society, at the moment. Being brought about by a vocal minority, who demand it be accepted as the norm.
Because it is easily achieved, the masses have no difficulty accepting it and embracing it.

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An alternative view on being mediocre – not to be confused with Mediocrity and the views expressed by sptrawler

Mediocre to me means “average”

Mediocre when it comes to trading
Being mediocre sometimes has it place, even the best investor has plenty of lousy picks along the way, but it is the manner in which you handle those investments after their purchase that ultimately determines your level of success.

Brains
Brains (IMHO) are an overrated attribute when it comes to trading. Smart people tend to think logically and have a hard time dealing with a market that ignores what should be painfully obvious.

Arguing with a lunatic is useless
The market is very emotional and illogical at times, and if you are too analytical, you will be surprised often. Using logic to argue with a lunatic is useless, and using logic to figure what the market might do on any given day is equally useless.

Mediocre
Being mediocre as a trader is about being realistic and having an understanding that we are probably only an average trader at best but that’s OK.

Skate.

kahuna1 said:

Australians and our besties NZ ... went to war in 1914 ... and with the UK paid a horrid price .... I am respectful and thankful

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kahuna1, I have a photo in my office to remind me what the high cost of war looks like. (image included)

61,720 lives lost in WW1
39,429 lives lost in WW2
520 lives lost in Vietnam

These figures don't include the injured or who have died from those injuries.

It's sobering to look at that photo every day.

Skate

Skate said:

61,720 lives lost in WW1
39,429 lives lost in WW2
520 lives lost in Vietnam

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ENORMOUS Numbers. The population in Australia during WW1 was around 5 Million. It would have been difficult to find a family or settlement that would not have been touched personally.

I sat in the new Perth (optus) stadium jam packed during the AFL finals, which holds 60 000 and thought WWI deaths would have overfilled this stadium. Very sobering thought.
I did a trip to Albany ANZAC memorial, and saw the field of lights which is on till ANZAC day this year. Again a sobering display. Albany was the last of Australia many ANZACs would have seen. I learned a lot during the visit, some incredible stories have stuck with me.

jbocker said:

ENORMOUS Numbers. The population in Australia during WW1 was around 5 Million. It would have been difficult to find a family or settlement that would not have been touched personally.

I sat in the new Perth (optus) stadium jam packed during the AFL finals, which holds 60 000 and thought WWI deaths would have overfilled this stadium. Very sobering thought.
I did a trip to Albany ANZAC memorial, and saw the field of lights which is on till ANZAC day this year. Again a sobering display. Albany was the last of Australia many ANZACs would have seen. I learned a lot during the visit, some incredible stories have stuck with me.

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jbocker, we called into Albany in 2016 & their remembrance wall is outstanding.

Albany was the last of Australia many ANZACs would have seen
I remember standing at the wall looking out to sea contemplating (in hindsight your words) this was the last place many Australians got to see.

Skate.

I was offered a business proposition many years ago. He had flown half way across Australia for the meeting (I refused his offer, but that's not the point of this post)

Learning something new
I always make a habit of learning something new from everyone I meet. This guy was mega wealthy & I asked him if he would tell me his life story. (I was genuinely very interested)

We were now mates
Three hours latter, now we are mates. He was from humble beginnings migrating to Australia after WW2.

What was the takeaway from his story
In the conversation he remarked " Australians don't appreciate their freedom"

Skate.

Skate said:

What was the takeaway from his story
In the conversation he remarked " Australians don't appreciate their freedom"

Skate.

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Nor do many refugees who are settled here!

Sorry, just keep dumping in public ... on the thread.

Whilst, well, close to my heart, it is totally relevant in the extreme, Likely not short term, but longer term, it is impossible to go on beyond 5-10 years. Not the WW1/2 stuff ... the tax and drip down stuff. Wealth is fine, as long as its NOT at the expense of the vast majority. Free trade, is NOT tax free trade where ... it flows to one or very few and NO part is given or even offered for the nation actually paying for the product.

We DON'T actually need any of it and many nations either have NO or very little of various of the larger tax inverters and tax cheats. I have NO issue, NONE ... if they pay but sadly. they don't and the impacts are very clear. As to the latest rant ... and emergency ... under war powers act of I think 1933 or 36 in the USA, FDR faced with a clear and very good picture of the state of affairs globally with Japan and Germany, both post 1937 when China went down ... was faced with one side the USA population not willing to enter another war. It was so unpopular ... now we have some war being invented ... as a distraction and yet again those ... Bloody Mexicans, if they only would learn their place ... and I kid ... on that and have a deep respect and love the ex PM of Mexico and his U tube ...

FDR ... KNEW ... what was coming and whilst able to read the Japanese communication from 1939, and increasing both open and not so open support of the UK ... pre WW2 ... it was NOT until Japan invaded after ... well a series of actions on trade and eventually freezing and confiscating all Japanese assets mid 1941, so 6 months prior to Pearl Harbor that ... things really started kick to off. Germany, despite USA warships in UK conveys with orders to shoot to kill post 1939, Germany ordered its U boats to avoid US ships no matter what. Germany, post Pearl Harbor declared war only upon one nation in WW2 and that was .... well USA.

Comparing FDR in the same sentence as the C grade reality show actor is absurd. Comparing the need for any fence, well ... when in 1954 when Trump still in nappies aged 8 and still being breastfed I suspect, which explains a lot of today ... he president then had yet another ... about the 10th disgraceful act against Mexico and it was called Operation Wetback and 1.3 million Mexicans were deported officially and many times that FLED ...

Oh same old same old ... Hoover blamed 1929 crash on them ... sent them back ... WW2 ... they begged for them back to fill vacant positions of fighting me ... 1954 we dont like them .... 1970 on wards we need cheap workers ... now ... we dont ... oh and POT ... banned due to the evil it caused to Mexicans ... NOW ... legal ... a pacifier for the masses ?

there u go a dump xxx

I'm dumping this explanation now and will follow up tomorrow with an explanation of my approach to investing which Skate requested some weeks ago:-

"
The internet is full of ‘get rich quick’ articles, books, and ‘systems’ – and they all have an angle on investing. Actually, many of them are based on sound principles, but in order to sell them the marketers warp the message (both the front end and the back end content). For example, a strategy used by Warren Buffet such as value investing, can be explained in 50,000 words. But it can also be explained in a few sentences.

What none of these articles and ‘systems’ mention – none of them – is Pre IPO. They don’t mention that initial Amazon investors made 14 Million percent returns on their money, or that the music group U2 made more money on Pre IPO than selling music. Why won’t it say all this? Because if everyone did it, the returns wouldn’t be so good. That’s how secrets work. When you ask the question “If this is so good why doesn’t everyone do it?” you have disqualified yourself as an Elite investor. Because as soon as things become watered down for the consumer, they also become less potent.

Be aware – by following in the footsteps of Pre IPO investors it does not guarantee that you will become a billionaire. However, if you do want to grow your wealth into a small fortune, it is the only proven path..."

https://www.zerohedge.com/news/2019-01-07/real-secret-wealth-creation

explod said:

I'm dumping this explanation now and will follow up tomorrow with an explanation of my approach to investing which Skase requested some weeks ago:-

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explod, I can’t wait till tomorrow..

Skate.

explod said:

I'm dumping this explanation now and will follow up tomorrow with an explanation of my approach to investing which Skate requested some weeks ago:-

"
The internet is full of ‘get rich quick’ articles, books, and ‘systems’ – and they all have an angle on investing. Actually, many of them are based on sound principles, but in order to sell them the marketers warp the message (both the front end and the back end content). For example, a strategy used by Warren Buffet such as value investing, can be explained in 50,000 words. But it can also be explained in a few sentences.

What none of these articles and ‘systems’ mention – none of them – is Pre IPO. They don’t mention that initial Amazon investors made 14 Million percent returns on their money, or that the music group U2 made more money on Pre IPO than selling music. Why won’t it say all this? Because if everyone did it, the returns wouldn’t be so good. That’s how secrets work. When you ask the question “If this is so good why doesn’t everyone do it?” you have disqualified yourself as an Elite investor. Because as soon as things become watered down for the consumer, they also become less potent.

Be aware – by following in the footsteps of Pre IPO investors it does not guarantee that you will become a billionaire. However, if you do want to grow your wealth into a small fortune, it is the only proven path..."

https://www.zerohedge.com/news/2019-01-07/real-secret-wealth-creation

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explod has explained to me that "tomorrow" used in his previous post should now be substituted with the word "ASAP"

explod said:

UPDATED
I'm dumping this explanation now and will follow up ASAP with an explanation of my approach to investing which Skate requested some weeks ago:-

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In the mean time..

We all know that there is NO Holy Grail
(IMHO) there is no holy grail for an investment strategy & if there was everyone would be using it.

Skate.

There is no “best” approach

If you believe charts are the same as 'reading tea leaves' or using 'voodoo' or 'Ouija board', then fundamentals are for you.

Skate.

A touchy subject
When discussing Technical Analysis verses Fundamental Analysis it shouldn't be a debate about right or wrong but a method to achieve they same end game.

Respect other people’s way of thinking
6+3=9
But so does 5+4
The way you do things isn’t always the only way to do them.
Respect other people’s way of thinking.

Two camps – Fundamental and Technical Analysis
Trading is normally broken into two camps, fundamentals or technical analysis, there are those from the school of fundamental analysis and those from a technical background.

It doesn't matter
Whether you use Fundamental Analysis or Technical Analysis it doesn't matter - one is not right & the other is wrong that's not the point in discussing them.

Skate.

No wonder we are confused

Just read
Market Wizards, Interviews with Top Traders (Jack D. Schwager)

Contradictory statements
Successful professional traders make contradictory statements.

Example
For example, in the book the successful professional trader Jim Rogers is quoted as saying that “I haven’t met a rich technician.”
Yet in the same book an equally successful professional trader, Marty Schwartz, is quoted as saying, “I always laugh at people who say, ‘I’ve never met a rich technician.’

Go figure..

Skate.

Skate said:

A touchy subject
When discussing Technical Analysis verses Fundamental Analysis it shouldn't be a debate about right or wrong but a method to achieve they same end game.

Respect other people’s way of thinking
6+3=9
But so does 5+4
The way you do things isn’t always the only way to do them.
Respect other people’s way of thinking.

Two camps – Fundamental and Technical Analysis
Trading is normally broken into two camps, fundamentals or technical analysis, there are those from the school of fundamental analysis and those from a technical background.

It doesn't matter
Whether you use Fundamental Analysis or Technical Analysis it doesn't matter - one is not right & the other is wrong that's not the point in discussing them.

Skate.

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Re. your 5 + 4 = 9, so does 8 + 1 or 10 - 1 [or an infinite combination thereof].

My point: are they standalone, additive, or subtractive to one another?

Fundamental analysis, classically refers to 'time-in-the-market', whereas, technicals are 'timing' the market.

Clearly, timing the market is far more profitable than time in, if, and it is a big IF, you are any good at it.

Where the fundamentals help provide an edge to an otherwise technical holding is the ability to hold and build, over time an ever increasing position. This [obviously] can only really happen if the fundamentals of the position are sound, viz. it will not go to zero. It allows an 'average' holding to be multiples more profitable than a simple buy and hold, unless, the buy and hold goes straight up.

The answer therefore is: they can be standalone, but they can also be additive. Just make sure they are not subtractive, through user confusion.

jog on
duc

ducati916 said:

Re. your 5 + 4 = 9, so does 8 + 1 or 10 - 1 [or an infinite combination thereof].

My point: are they standalone, additive, or subtractive to one another?

Fundamental analysis, classically refers to 'time-in-the-market', whereas, technicals are 'timing' the market.

Clearly, timing the market is far more profitable than time in, if, and it is a big IF, you are any good at it.

Where the fundamentals help provide an edge to an otherwise technical holding is the ability to hold and build, over time an ever increasing position. This [obviously] can only really happen if the fundamentals of the position are sound, viz. it will not go to zero. It allows an 'average' holding to be multiples more profitable than a simple buy and hold, unless, the buy and hold goes straight up.

The answer therefore is: they can be standalone, but they can also be additive. Just make sure they are not subtractive, through user confusion.

jog on
duc

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Disclaimer
I trade using technical analysis having a robust mechanical trading system over the fundamental aspect of trading.

ducati916, made a great final remark "The answer therefore is: they can be standalone, but they can also be additive. Just make sure they are not subtractive, through user confusion"

I want to play the devil's advocate.

For those who don't know the term
The term devil's advocate describes someone who, given a certain point of view, takes a position he or she does not necessarily agree with (or simply an alternative position from the accepted norm), for the sake of debate or to explore the thought further.

Skate.

There are different ways to profit from the markets
1. Warren Buffet, considered the world's greatest investor, invest based on fundamental analysis only.(looking at P&L Financials)
2. Ed Seykota, considered the world's best trader, trades based on technical analysis only. (Chart reading)

So what's my point?

My point is..
There are different trading methods that work. You need to find something that suits your lifestyle, schedule, and personality. A mechanical trend trading concepts resonated with me rather going down the path of discretionary trading the essence of the fundamentalists.

Skate.