Mar
12
Crazy, from Vic Sarjoo
March 12, 2007 |
The Education of a Speculator is required reading here at Radical Funds now. The market chose it. Enough people liked it that we give copies to all incoming, along with Johan Norberg's In Defense Of Global Capitalism and some others, like Hoover's Vision, which we require our entrepreneurs to read. We distribute the books over time, and strategically when the volumes are of utility to the individuals.
A Managing Director who joined us about a year ago was given his copy of The Education of a Speculator this weekend.
He came in today saying, "This book you gave me — I'm learning so much from it. I'm 20% into it."
I replied, "Yep, it's the single tome I learned the most from. And it is both rational and interesting."
He added, "Yeah, and Niederhoffer is crazy. He's like us, man. Something is seriously wrong with his brain — it has to be, to write something like this. I really dig it."
Comments
4 Comments so far
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one is reminded of the passage from Nock where he is editing the Freeman and he hears his assistant saying ” nock doesnt know anything about anything ” and Nock says to the reader ” I was so delighted by that remark that I could hardly restrain expressing my delight”. vic
Stubborn like only a chronic bull like me, holding overnight some shares and writing in a wisely moderated comment that Armageddon is yet to come, I get up early as usual traders do, and discover that my shares are running,but futures are red. While I try to sell them at the opening, in the breezy stressful awareness that the boat all around me is sinking, I double my position on margin while still running, I open my mouth and take my profit.The not mine anymore my shares still run, as well as some important institutional shares. I Would like to buy something more, but my spine is in pain, something is telling me to stop buying. I look more around,the red is getting darker my ex shares and the upgraded institutional bend over and plunge. I declare in my room to my bear friends that their time is here,that I am all out watching the sink. They are so happy about my declaration, they give me also some great long calls to please me, I help them to stay cool as the Armageddon is now is real as their increasing gains. Some declare to have 56 positions open short covering at the end of the day. They are in heaven, investors are wrathful. I go out at lunch at 4 o’clock with my wife and son, we are happy. It’s raining today in Austin, they would like to go shopping, I am tired, I have nap. Now I am here writing to you thinking, what a day !
As a student of Financial Markets and participant in Indian Stock Market, I have greatly refined my understanding from The Education Of a Speculator. So much is my adoration even my 9 year old Daughter Hita recognises Victor and the book’s cover. Whenever in confusion or stressed by the market movement , I regularly consult EdSpec to derive insight and solace. I might have done 4-5 readings of the book, but as a true classic it gives me new meaning every time. The book adapts itself depending on the reader’s maturity level and the learning curve and trading experience. Higher level Concepts make me wonder about VIC’s superhuman status.
glad to see you”re still here. hope all goes well for you and your company.