Apr

18

 Connections. That is the nerve center of market knowledge. Recently I came across a great connection that sheds considerable insight on an important but controversial subject (please forgive Mr. former rocket scientist) in Mortal Games by Fred Waitzkin. He describes a disease that grandmasters get. It's the disease of thinking that every other grandmaster after them who made more money and achieved more fame was morally corrupt. Botvinnik believed that Fisher had bribed Spassky to win their match. Spassky believed that Kasparov had bribed Karpov to end their matches in a draw and that was the reason that in game 19 of their title match when Karpov had a seeming winning position, he had shaken hands with Karpov, offered him a draw and then sat animatedly analyzing the game.

Okay, if that disease doesn't afflict the old men who don't want anyone else to invest in derivatives or anyone else to pay anything but higher service rates than the current, what does? What is the bacterium that causes this disease? And how can it be used to predict markets and deflate the self serving ballyhoo of these old lions?

Tyler McClellan writes:

Let me suggest, not too strongly, that the answer has something to do with the propensity of wealthy capitalists to make gardening their post retirement focus.


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