Sep

7

Mr. E, from Larry Williams

September 7, 2015 |

Like many of us on the spec list I was fortunate to develop a very good relationship with Mr. E, a.k.a. Ed Dunne which taught me many things.

My first impressions were pretty much a mixed bag; seemed like Ed did a lot of talking about grandiose things… Like being actively involved with Andrew Breitbart, getting Drudge Report up and going and a few other things that seemed a little out of place. However at one point I was fortunate enough to have dinner with Andrew, mentioned Ed and he lit up like a Christmas tree telling me about many of the things they had done together and what great admiration he had for Ed.

I had a market idea that Ed thought had legs to it and promised he would have a couple of fellows get in touch with me… I thought was a very nice offer but really never expected people of that caliber, or far up, ever give me a call. To his word however I got the call discussed the idea… there wasn't much interest in it but certainly Ed could get people to do things and was more than willing to do that. He always seemed very willing to reach out and help.

My big take away, the really big thing I learned from Ed, was right at the bear market low in 2009. Ed, always Mr. politics, and a bit on the conservative side, was railing about Obama when Vic was mentioning that the long-term trend was still up. It's one of those memories I will always carry with me a group of spec listers were at John Bollinger's in California Vic was on a conference call or something we were listening to him talk at the same time Mr. E had been extremely negative on the marketplace.

In retrospect Vic nailed the low… Mr. E stayed short way too long. That happens— none of us are always correct in the markets— but my take away point was don't let your political beliefs getting way of market beliefs or trading strategies.

That's a lesson I have learned –and relearned –over the years but finally learned it for certain, absolute certain, in 2009. Ed also had some brilliant calls like at the first of this year I mentioned to him I had some very bullish stuff on cocoa he said his indicators were equally bullish based on supply demand etc. and the rest is kind of history…we had some great rallies there.

Ed and I shared a love for good steak dinners (Gallagher's) as well as trading the bond market. It was very interesting to watch his prognostications which were based more on relationships of the different instruments, time, spreads etc. and mine which is based more on technical stuff cycles and accumulation… how these two things could come together to set up some very good trading opportunities.

The rumor is that Vic and Mr. E had their differences, yet both shared a love of helping other people begin their careers. Some world-class traders began with both of these guys and is probably the hallmark of their career. After all making money is one thing but giving inspiration and beginning careers for other people is much more of an accomplishment.

The final take away point I got from Ed was his incredible interest in learning anything about the markets… Whether it was weather, intermarket relationships, conjunction of Saturn with Venus… It didn't matter… his mind was wide open to learn even from people like (a loop I was fortunate to be in)… and the truth is I was the one that did the learning.

Jeff Rollert writes: 

My memories of Ed were similar. We would talk intermarket relationships and weather. He understood weather as well or better than many of the professional sail boat racers I knew. Only one who goes many miles offshore and thus unable to outrun a storm into a harbor, carries this knowledge.

What I found interesting about Ed, was you had to separate his anger from his frustration. From my perspective, his 2009 views were frustration…a path taken when you see a suboptimal path being taken, like your teenager, and being unable to understand why.

He too helped me, and I don't forget that.

Allow me to also add Vic has shared an enormous amount with me (whether he agrees or not). I've always loved that in private discussions both Ed and Vic allowed you to give your $0.02 and not dismiss you as an idiot. They disagreed without making it personal, which appears now to be a lost skill. Great mentors, which both are, excel at that. Note, Ed did love to poke at you, if he thought you were being grandiose.


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4 Comments so far

  1. jeff watson on September 7, 2015 2:31 pm

    Please put this article into the “Post of the year” category. The Senator nailed it 100%

  2. marion ds dreyfus on September 8, 2015 12:57 pm

    I was crazy about Ed. His gargantuan appetite for the new, the interesting, the tasty, was impressive. He startled me with his tales about Drudge and Breitbart, too, but had to assume, given his many activities and dynamism, that they were probably true. He was a boon companion, a terrific storyteller, and amazing to eat next to, as he ate the way he absorbed information and knowledge–the interjection WOW would apply.
    I miss him.
    He left us far, far too soon.

    marion

  3. Fernando on September 9, 2015 1:39 pm

    Just after his death, I happened to dine with several of his colleagues. It was obvious how deeply they felt the loss of his energy, intelligence, mentorship and joie de vivre.

  4. Ed on September 9, 2015 8:02 pm

    Sounds like a total stud. Even though I am a fake Ed I am proud I picked the name for online posts.

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