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John,
Your wrote:
"Date: Wed, 20 Mar 2002 20:25:48 -0500 (EST)
From: John Cappello <jvc689@xxxxxxx>
Subject: Temporary Curtain Call
Hey guys and gals,
I was posting because I thought I had something to say and there was
a lull in the packing process for my move to Charleston, SC
For the record , it is difficult to post in an environment that can
sometimes get hostile and to defend your good name you are almost
obligated to respond to detractors.This takes time and mental
energy.
I believe I have earned my wings and when I or anyone else says
something you disagree with , please write that person back
personally instead of making an issue over what may be your faulty
conclusion.
I know a lot about a few things and a little about a lot of things.
My personal background includes:
1. Started investing in new issues at age 16 and also bought 5 acres
of land for $750 with my paper route money just outside of Atlantic
City which I recently sold.
2. I have been in oil, real estate , stock and coomodity ventures
over the past 45 years.
3. I was a practicing Chemist for 10 years [B.S. PCT&S] and invested
in stocks as a hobby and put RE partnerships together buying farms,
selling off the house and front lots.I worked on the first PVC pipe
and space age plastics.
4. I earned my M.B.A. from Drexel University and started my own
Securities firm. I was a millionaire for the first time when I was 28
and lost most of it by age 29 devoting too much time to wine , women
and travel. That is when I had a heart attack.
5. I recovered a little wiser, became a money lender and mail order
entrepreneur and went to Medical College 5 years later and then spent
5 more years studying and and Interning and becoming Board Certified
in Family Practice.
My wife and children ran the business.
6.While practicing I was offered founder stock in a company needing
medico/business background on the Board. I saw too many shenanigans
and sold out , a multi-millionaire again.
7. I founded my own company and took it public making it solid with
my own funds and then merged it with someone with a better idea.
8. I have also taken corporate shells public for the sole intention
of merging with operating companies. All the while I practiced good
solid medicine [no malpractice suits in over 20 years].
9. I was taken to the cleaners financially by my wife and two
children to whom I bear no anomosity even though the turmoil lasted 2
years.
10. I needed a geographic mental health relocation and landed in
South Carolina in 1995 with the best position I ever had...36 hour
week, no hospital or weekend call and a salary plus earned bonus of
close to $200,000 per year. For the first time in my life I could go
practice , eat , sleep and drink commodities and security nuances for
the past 6 years.I have dozens of useable systems and methods that
run and dry up. I am always on the look out for my own methodology
imporovement or to utilize another's in a mutually satisfactory
way.
Financially I am sitting pretty as many of you may or may not made
the travail yet.I certainly wish all of you well.
I make no apologies for my background what I did and how I got
there.What I do resent is the cockiness and arrogance of people who
think everything I write is BS or shilling or whatever their pet
peeve is...plus I know nothing about them that makes them experts.
I am a young 61 and have a 40 year old wife and do not have time to
deal with the upcoming crap that always is drummed up on this list
and only less worse than Omega.I can see the Quants of this list in
the background and do not want to play...post...be
attacked...defend...post...over and over.
To The Point I would rather communicate with whoever wants to do so
on an as needed basis bilaterally rather than post....and that is
where I think the most prolific past posters I recall who are not
here are currently doing.
I have a solid investment portfolio and come to this list to share
ideas on the weaker link right now, speculative S&P. I just like to
win whatever money game I am playing. Spec S&P was a biggy for me
last year when out of securities monitoring.
Thanks for your time and patience if you got to the end.
With much appreciation from all I have learned from the real
Realtraders I still recognize on this list and those who sit back now
or have moved on for whatever reason,
John"
Well said.
I took a year or so off belonging to Realtraders hoping it had changed
when I returned.
On return, I found it was me who had changed more than the
group.
Having grown somewhat in the period, I find I more readily cope with the
style. Instead of finding a need myself to crudely
accept or reject the accept or reject style of many members, I can gain
insights about my own failings and own needs for further
development.
And of course, not all contributions are in accept or reject mode as
there is no moderator reinforcing the accept or reject style.
I call the knockers the 'accept or reject mob'. The
term 'mob' is used as a purely descriptive word.
To be fair, we all still behave this way some of the time - for we are
all crowd animals to some degree.
Some are such inveterate crowd members, they need others to agree with
them on everything, even on deleting messages so they are not alone when
putting their head in the sand.
They are crowd animals pure and simple, and act as a crowd, buying near
the high, selling near the bottom. They deliberately
cut themselves off from information so they can be as effective as
possible being ineffective! They do what the majority
do and place more value on being with the majority than being
profitable.
They know of only one way of trading and are in denial there is even one
variant, let alone other approaches. Do not get
upset at them, they know not what they do. And they are the
source of profits for the rest of us - so we need them.
I deal with them on their own terms - I tend to say "I accept your
perspective" or similar, rather than disagree, for only way in which
they relate to ideas is accept or reject - hence the 'accept or reject
mob'.
Acceptance and rejection is a function of purely emotional processing -
part of our facilities invoked by demagogues in a crowd
situation.
In this mode we will do things as part of a crowd, we would be ashamed to
do as individuals.
When acting as crowd members (part of a 'mob') we do not have alternative
modes of operating it seems such as:
- that
is interesting, I'll try that,
- oh,
perhaps that will work in a few cases, I wonder which ones,
- yes,
if I use that on volatile markets it might be useful,
- I
had not thought of that,
- perhaps
I can leverage that,
- wow,
maybe options strategies could exploit that idea,
- that
is a little better than my idea and perhaps ...,
- that
is insightful,
- that's
a new wrinkle - maybe I was wrong about ...,
- I
think that might be worth a 10% improvement, let's test it,
- that
seems crazy, maybe I have a blind spot there,
- ...
By definition the 'accept and reject mob' will have to accept or reject
the content of this in true crowd style.
And they will have to find a justification for their acceptance or
rejection - and it will have to be emotional, and they will have to have
many others agree with them.
It is all so predictable - not predictable whether there will be
acceptance or rejection - but that there will be either acceptance or
rejection.
And although no one person is mentioned in any way, some will react as if
it is personally directed at them. And they will assume the
crowd will support them as if this is justification enough.
And since learning requires taking personal responsibility for your
actions rather than looking for crowd support, such people will not be in
learning mode when acting as part of a 'mob'.
Sad really. But it takes all kinds to make a market and leave
profits on the table for those of us with other than accept or reject in
our armoury.
And if the 'accept or reject mob' ever did learn, where would the profits
come from?
And as always there will be something to learn from the 'accept or reject
mob' responses.
May your potential be realised, Ric.
www.traderscalm.com
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