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Dear Ira,
You have absolutely won the award for persistence, and wow, you
completely blew away the gallery with you abilities to annoy the
interested, deviate from the apparent, and obscure the obvious. I
enter into these types of pointless exchanges for a living, and I enjoy
it. We will continue along with this tied to a line tied to a line
measured by your endurance.
However, let's make something clear. I never said that I made $1,000
per day. That amount is your suggestion. I would state that if you
$1,000 a day to meet your monthly requirements, then perhaps you sjould
reconsider your rate of consumption. I made it very clear that my
approach does not work every day, and it is not perfect.
But, I am now very curious. You apparently play a lot of golf, (usually
executed during daylight hours). So, do you derive your trades and
strategy from the course? Is it whether you three or four putted
fourteen? Perhaps something more subtle. For example, do you go long
t-bills AND short AMZN if you slice? No. That's not it. Oh yeah. Of
course, you follow the approach to trading while playing golf yourself
much in the way that Chevy Chase did in Caddy Shack.
I apologize to you, because anyone that can accomplish $1,000 a day
while playing golf (every day) is simply ..... Well, a god.
(I now kneel before you)
Ira wrote:
>
> In this mailing you have said everything. You are not a trader you are an
> investor. You do not do this for a living, you work 16 hours a day to put
> food on the table. You work with only 20 stocks that you have preselected.
> You spend 8 hours doing your research on the 20 stocks and when do you eat
> and sleep? If you sleep 8 hours, when do you do your research and eat?
>
> I have a great deal of respect for you if you are as successful as you say.
> I have no reason to doubt it, but as you admit, a trader, who does this for
> a living, can not exist on your method. To make $1000 a day one would need
> to invest $100,000 and flip the 1% every day to generate cash flow. If
> there is no flip there is no dough, and with no dough there is no bread, and
> with no bread one can get awfully hungry. Good luck, Ira.
>
> Len Olson wrote:
>
> > Dear Ira,
> >
> > I have obviously failed to articulate my approach in a way that can be
> > understood by those who suffer from myopic deliberation.
> >
> > If a person (investor/trader/speculator/venture capitalist) is going to
> > venture into financial battle with the intent of adding to wealth
> > against opponents who have the same goal, shouldn't the person be
> > prepared? If I have read and interpreted your post, you are only using
> > a screening tool with set parameters of your choosing. You state that
> > you do not have the time to research, read news, etc. What in the world
> > do you think the truly large players are relying upon, a ougi board?
> >
> > By following twenty or so stocks, I can manage my time in order to do
> > the continual research and review process to monitor each equity. With
> > time, this has allowed me to understand and anticipate the price
> > reaction to market movement and news. I am not aware of any better way
> > to prepare for this type of battle. Instead of some of the goofy guru
> > books that have been recommended, I strongly suggest that you spend some
> > time with Sun Tzu. His thoughts are the basis of strategy to this day.
> >
> > You are the same person that asked me whether I had shorted BAMM. Now,
> > back in December, AMZN and all of the other new internet darlings were
> > running out of control. Would it really have made sense to short BAMM?
> >
> > You also made the comment that my approach did not account for short
> > selling. Of course, that's the point. I can only keep a reasonable
> > perspective on twenty stocks. Clearly, they are value plays. Short
> > selling does not fit in my approach. You also said that you had serious
> > doubts that my approach could not pay for the monthly bills. Ira, I do
> > not rely on investments for income. My goal is the accumulation of
> > wealth. I work a sixteen hour day and divide my attention accordingly.
> >
> > Do not assume that my approach does not work. It allows the selection
> > of several equities on a daily basis backed up by personal knowledge of
> > trade action. On a daily basis, those opportunities can be traded at a
> > profitable spread of about 1.5 to 2%. It does not work everytime. I do
> > not fully invest on any given day, and I do not profess to have success
> > each and every day. However, it does provide an average close to open
> > position under two days with a an average yield above 1%. At the same
> > time, I have minimized my downside risk. If you are receiving greater
> > returns and results, then, indeed, my hat is off to you.
> > (head bowing down in humility and respect)
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