What must have been the attributes of some of the exceptional achievers who have undergone, survived and then thrived away from persecution? Was persecution just a common co-incidence or did it induce certain specific abilities in these achievers?

Extensions of this core query naturally arise as to what market behaviour is highly persecuting in its nature and how would it than affect the persecuted traders? One of the potential talents of a market at inducing persecuting behaviour is perhaps the density of gaps or a larger tendency for price jumps. Hang Seng China Enterprises Index (HSCI) comes to mind as perhaps one major contract that has more opening gaps than any other in the world. This imagination doesn't seem to be related to improving the abilities of traders by way of punishing them. So, what kind of market features tend to be extremely tough on its participants but still bring about the best out of them?

But most importantly, first to decipher the specific attributes of the persecuted that turned them into achievers.

George Parkanyi says:

I don't know much about persecution and the markets, other than most of us traders probably feel quite persecuted, among other things, when what seemed like a good idea at the time goes so horribly wrong. But my first guess as to why Hong Kong gaps a lot is time zone. The Asian markets, like others usually follow what goes on in New York. If you're down, oh for example 250 points here, odds are you're going to start the following day in Asia with a free haircut at the opening bell.

What kills me still is how the commentators on BNN act surprised when the Asian markets get drubbed after a bad day in New York or do well after a good one.





Speak your mind

2 Comments so far

  1. Rocky Humbert on October 31, 2009 5:02 pm

    The author’s choice of the word “persecution” is unfortunate and incorrect. Persecution is defined as the systematic mistreatment of an individual or group by another group.

    Short-term speculation is a zero sum game, and a trader willingly, and without cooercion, places a bet. The author’s logic suggests that in a wager, the winner persecutes the loser. That is absurd on its face.

    Even if one accepts the author’s plausible supposition (that persecution can ultimately lead to achievement), he neglects to mention that persecution requires SYSTEMATIC mistreatment. Among speculators, only fools and masochists subject themselves to systematic mistreatment. A speculator facing genuine persecution would simply walk away …

    Lastly, let’s please keep a bit of perspective here. How does being on the wrong side of a trade in Hong Kong compare with being on the wrong end of a Turkish death march, facing a Russian pogrom, being sent to a Gulag, and countless other examples of discrimination, abuse, atrocities and crimes against humanity? Fairly insiginificant and uninteresting, is my answer.

  2. Sushil Kedia on May 2, 2010 12:57 pm

    ASS-u-ME is one way of spelling assume and means as much. Winners persecuting losers as you rightly said is not persecution.

    But if large volume pumps have access to the central server of an exchange without the same privelege being shared by all other market participants. Big volume producing pools tilting the bid-ask pressure against the scattered retail positions is persecution.

    Is there a single stock exchange in the world where an information audit is being ordered and conducted by any regulator in the world?

    There would in such a way of thinking hundreds of ways in which persecution may have been playing out in the markets which is just one single word expressing the idea that the public loses more than it should be losing.


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