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Hello Scot,
Wednesday, December 08, 1999, 5:45:35 PM, you wrote:
SB> ...Gann and Gilmore's enormous fortunes. Gann, who allegedly made $50
SB> million in the 20s-30s trading futures, would have a fortune of $1.6 billion
SB> if it earned 6% from then until now. Where is all this money? Gilmore has
SB> been around selling books, seminars, and programs for over 10 years. He has
SB> obviously sold tons of them as it has kept him alive. Out of all of those
SB> students, why are none of them big time money managers today? I am looking
SB> for one disciple. Before anyone starts in on the regular retorts, which I
SB> ADMIT have SOME merit, do not forget that 15 years ago Dennis and Eckhardt
SB> taught their methods to 24 people and 4 of them are among the largest CTAs
SB> in the world today. Both the teachers are too. How many gazillions of
SB> people have read Gann books and Gilmore's stuff? Are any of them successful
SB> CTAs? Out of all the authors and experts on Gann, why are none of them
SB> money managers? Why do they continue to sell books? I could see selling
SB> some to finance a trading nest egg, but the authors and names are the same.
SB> A lot of them do well in letter writing contests and some even win little
SB> trading tournaments. I don't doubt that there will be multiple replies to
SB> this talking about the author's 600% return in two weeks after drawing a
SB> Gann angle (which by the way crosses different points depending on the size
SB> of your graph paper and how much you assign to each box.). None of those
SB> repliers will have been successful over 10 years. None will have an NFA
SB> audited track record. They will be plenty mad and plenty sure of
SB> themselves.
SB> There are certainly an infinite number of ways to make money in the markets.
SB> I am open to the possibility that ANY type of method could produce an edge.
SB> I'll test anything. Some of you should perhaps open your mind to the
SB> possibility that Gann/Gilmore/Elliott Wave/Time and price etc. do not create
SB> an edge and merely produce random trades. Many of your successful examples
SB> are the ultimate form of curve fitting.
SB> sb
HEY GOOD POST! I just didn't have the nerves to get involved with this
argument too. It was so obvious that their are some real looney's on
the list. I figured if I jumped in on this Gann crap I would surely
get kicked off the list.
--
Best regards,
Mark Brown mailto:markbrown@xxxxxxxxxxxxx
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