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JER3CUBE@xxxxxxx wrote:
>
> In a message dated 97-11-01 16:52:40 EST, knight@xxxxxxxxxxxx writes:
>
> <<
> Acutally, I thought his book was quite good. Definetely a wild trading
> style though. :)
>
> If you put aside his eccentric trading technique, many
> of the stories, analogies and anecdotes are quite entertaining.
>
> He's busted now Thad, but don't forget that he made alot of people
> very rich, for a very long time. :) >>
>
> Did he though? Soros on Soros states that he had the good grace
> to "reseign the account" before he went to a loss position.
>
> That is not the same as making a lot of money for....
>
> There seems to be a confusiong between what is "gambling" and
> what is "trading".
>
> Gambling is where you put all the marbles on one outcome.
> All or nothing at all.....winner take all....bets.
>
> Trading is a percentage affair.
>
> If you have a better definition feel free to add it.
NW: Gambler- one who risks money based on a guess or an outcome with no
mathematical advantage to the player.
Speculator - one who risks money based on an educated guess or an
inherent slight mathematical advantage.
Investor - one who risks money based on research and an inherent
significant mathematical advantage to the risk taker over time.
Speculatively,
Norman
It appears that
> Neiderhoffer was a gambler. He lost it all.
>
> Soros....was only down 10%....obviously, a trader.
>
> GerryB/jer33:3
> learner/teacher
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