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Neo and Lionel-
Thank you for clearing the confusion regarding the legendary William Gann. I
had heard somewhere he was worth $50 million when he died. Must have been a
nothing but a rumor. Whatever his net worth, while there are some good
trading concepts to be extracted from his work, it sure isn't fun digging
them out. And the mysticism stuff is rampant, with no way to know what he
really meant. Borsellino thinks highly of him too, sounds like the most
money he made was when his estate sold his materials to Borsellino. Maybe
the true secrets were in that material. hmmmmmmmm. Does anyone know where
the $50 million rumor came from, or if there is any truth to it? Did the guy
ever make any money trading, or just write about it?
Ron Scott
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Lionel Issen
Sent: Tuesday, November 21, 2000 2:52 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Market Gurus
There was a discussion here about 2 years ago. The value of Gann's estate
back in the 1950's was put at a number of different values that ranged
around $55 and $100 k. Prices have gone up around 10 times since then.
Gann's estate in present day $s was not more than $1meg. this is not very
impressive for a great trader. Most of Gann's estate was in the value of his
house.
At her web page and in her book, Constance Brown thinks very highly of
Gann's methods, along with Elliot wave and Fibonacci methods. At her web
page Brown suggests that Gann's methods were based on musical intervals
which are logarithmic. Does anyone have the knowledge and skill to follow up
on the hints at her web site?
Gann deliberately wrote in the obscure style of some professional mystics
and some academicians who work hard at hiding the fact that they may not
have much to hide. I find it hard enough to learn something new without it
being made difficult.
When I was a child it was said that only 4 people in the world understood
Einstein's theories. When Einstein was asked about this he laughed and said
that he had personally met at least 600 people who fully understood his
theories. Almost any subject can be made understandable to a lay person if
the speaker will make an effort to do so.
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "neo" <neo1@xxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, November 21, 2000 12:52 PM
Subject: Market Gurus
> I am reading Elder's "Trading for a Living" where he talks about market
> gurus including Elliott and Gann:
>
> "I interviewed...Gann's son... He told me that his famous father could not
> support his family by trading but earned his living by writing and selling
> instructional courses... When [he] died...his estate...was valued at
> slightly over $100,000."
>
> neo
>
>
>
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