Nov

19

Jeff Watson's post on perfect pitch is of immense importance and worthy of approach from many angles. The first that comes to mind is from the one thing I know about, the defunct game of hard ball squash. I played a guy from New Zealand, Rainer Ratinac, often and he would be impossible to beat unless you changed the game on him and hit a lot of short short shots mixed up with the normal comp of long. He'd always turn to me after such an exchange and say, "This isn't squash, mate." Then he'd capitulate at once.

Tom Wiswell would often play me or my former partner a game of checkers and when the position became helter skelter because neither of us knew book well, he'd say, "I'm in over my head here. I offer you a draw." Jules Leopold on the other hand would love it when he got in a position over the head and would never give you a draw. In fact, he had a few positions that he'd set up to say, whether you move first or last I bet I can win. The funny thing is that Jules could not win a world championship because he liked positions where both were in over their heads even though he was a much tougher adversary than Tom.

Mr. B, amid his many virtues, had one failing. He was always looking at tick data to find the ideal time to buy or sell within the day, one trade a day and the problem was that the market always sets you up on the wrong side with very micro movements so that it would exit you from the good positions by giving you the near certainty of a 5 minute profit at the expense of losing the 60 points that would have been yours had you not exited at just the optimal time, based on the tiki or tik stuffy. One must be careful that the movement from major to minor is not a la Mr. B, but is of a more lasting meal for a full day kind of thing. The pace of activity often signals a change from major to minor and the fixed income markets always seem to know the data first, except for the scholars.


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