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Wondering which if any of Ralph Vince's money management concepts you've
successfully implemented and/or if you've also encountered any issues in
addressing the cost of commissions within this context, such as what you
may even recall my raising a few weeks ago to no avail yet...
On Mon, 2002-07-08 at 05:43, charles meyer wrote:
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> ++++++++++++++++++++
> "Ralph Vince did an experiment with forty Ph.D.s.
> The forty doctorates were given a computer game to trade.
> They started with 1000$ and were given 100 trials in a game
> in which they would win 60% of the time. When they won,
> they won the amount of money they risked in that trial.
> When they lost, they lost the amount of money they risked
> for that trial. Only two of them made money. The other 38
> lost money. 95% of them lost money playing a game in which
> the odds of winning were better than any game in Las Vegas.
> Why? The reason they lost was their adoption of the gamblers
> fallacy and the resulting poor money management."
>
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