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« What is "Inventory"? | Main | Comparing Data Interpretation »

May 28, 2008

Comments

Brian Powers

Sports and financial markets are similar in many ways. I always thought it was neat that when it comes to television coverage, they both:

-follow the action as a live event unfolds within a specific time frame
-rely heavily on "expert" commentary and graphics focused on numbers, statistics and past performance
-include comparisons to peers and historical benchmarks
-attempt to enlighten viewers to the event's momentum in an entertaining manner

The term "entertainment" is key.

I enjoy both sports and financial markets, but I am far better at the latter.

John Forman

I read and reviewed Enhancing Trader Performance myself shortly after it came out and couldn't agree with you more. I've coached volleyball at the youth and collegiate level and a great deal of what Brett put in that book was stuff I could immediately relate to not just in trading, but in coaching as well. And of course the whole performance idea extends beyond markets and sports.

For the sake of full disclosure, Brett wrote the forward for my own book, The Essentials of Trading, so of course I'm going to say nice things about him. :-)

VennData

If you played Little League, think of the touts, the media, the brokers as the guys chanting "Hey batter, batter... hey batter, batter... Swing!" Good investing is the opposite.

Data allows for Understanding. Understanding is essential for rationality. Rationlity begets discipline. Discipline trumps emotion.

David Merkel

One thing that I appreciate about this article is the emphasis on aiming for moderate consistent gains, rather than "home runs." That's the way that I try to manage as well. Hit lots of singles, and try not to strike out.

The attitude that you (and I) promote, is one that takes discipline to learn, but it is part of becoming a true professional investor (or intelligent amateur).

As for the piece I wrote, I always dislike that kind of investment literature, but with this one, I was surprised at how many telltale signs of trouble I could find with just 30 minutes of work.

PS -- I liked your piece yesterday. I had a note in my pile to write something like that, but you did it better than I would have. Now I don't need to write that piece; well, I'll sit on it for a while.

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