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Ron:
A long time ago I read, and it was mentioned on this listserver, that Gann's
brokers went bankrupt and left him broke. Other speculators made money and
could show it. Jesse Livermore made money and put much of it into trust
funds for his wife and daughter (he committed suicide around 1937). My
feeling is that if Gann was as good as he was reputed to be, other wealthy
people would have bankrolled him after his brokers failed. There is a
possibility that while he understood the market, he may not have had the
decision making ability to make money at it.
The stories I read about his son were that he had a relatively small job in
the investment business and only used fundamental analysis. Perhaps his
father mistreated him and wouldn't teach him his methods.
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "Ron Scott" <ron@xxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Wednesday, November 22, 2000 12:58 AM
Subject: RE: Market Gurus (William Gann)
> Lionel-
>
> No, I have not heard of Gann's Secret. Is is by Krauze or originally by
> Gann? I only have Gann's "How To Make Profits Trading Commodities" book.
You
> might have to try a used book dealer, unless it might be at one of the
> trading book places new. I have heard the story about Gann's wife selling
> his materials to Lambert. On page of 139 of Louis Borsellino's book, he
> claims to have invested in original rights of the Gann's charts and
> overlays. I have no idea if he is referring to the same materials
supposedly
> sold to Lambert. But I also heard Lambert died.
>
> It would be quite interesting to know what the real story is, and also the
> truth about Gann's actual trading profits. Borsellino seems to be a very
> successful and capable index futures trader. Since he's been at it for 20
> years, he must be at least marginally consistent over a long period of
time.
> It is therefore hard to understand why he'd even want to follow Gann,
unless
> Gann was far more successful than his son let on. Perhaps, it is possible
> that Gann did make $50 million and hid it somewhere overseas, and his son
> was in on it. Then, after dad dies, he acts like he's broke so the IRS
> doesn't catch on. After all, if Gann had even a fraction of the financial
> savvy attributed to him, setting up an offshore tax haven would not have
> been too difficult for him.
>
> Something doesn't add up here. Maybe Gann was just as bad a trader as his
> son said, and swiped all his material from someone else just so he could
> write about it and sell books. But it seems there must be more to it than
> that, or maybe, like others, I just want to believe in the myth.
>
> Anyone know anything more?
>
> Ron Scott
>
>
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Lionel Issen
> Sent: Tuesday, November 21, 2000 10:14 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Market Gurus
>
>
> Ron:
> Thanks for the lead about Borsellino. I had never heard of him.
> I thought that Gann's wife sold everything to Lambert, and that Lambert
> recently died or retired and these materials were sold to someone else
> (Borsellino?).
>
> About a year ago someone, I thought his name was Robert Krauz, wrote about
> Gann's Secret (or some such title). Do You know anything about this book?
> Lionel Issen
> lissen@xxxxxxxxx
> ----- Original Message -----
> From: "Ron Scott" <ron@xxxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Tuesday, November 21, 2000 7:26 PM
> Subject: RE: Market Gurus
>
>
> > 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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