Sep

14

Today's base of operations brings to mind Josh Waitzkin's book The Art of Learning which espouses "the study of numbers to leave numbers". It's never happened like this before. And stocks and bonds are in moves free of the past. Needless to say, I am intensely displeased with Waitzkin's book and the moves. However, one must credit Waitzkin who is a world champion in chess and martial arts, and a world class fisheman and free diver, and apparently a lover of literature as well. With great accomplishment even if his insights rankle.

George Coyle writes:

I am reading the book now. I found the chess section to be rather interesting. Definitely elements were applicable to trading. I found it especially interesting that he spent so much time studying chess and variations. He no doubt had a natural inclination but mounds of study accompanied that innate ability. But ultimately when he ventured away from his style (at the advice of his then teachers) he didn't do so well. This reminds me of books and such that say a trading/investing style needs to suit a person's personality or it won't work…Richard Dennis said in his interviews he could publish the turtle models and people wouldn't follow it. Waitzkin's style in chess was to create so much chaos the other player would get confused and frustrated and he enjoyed the chaos, he thrived on this and used it to get to the end game (his area of focus) where most other players focused on the opening.

His discussion of deception and other tactics the Russian players used that he sometimes noticed (being kicked under the table) and other times didn't notice (tapping a piece against the table to break concentration) was also interesting.

The Tai Chi section thus far has not been as interesting. The one thing that stuck out to me is he mentioned an ability through tai chi and breathing to slow his heart rate (I assume there is more of this further in the book). I think this could be very useful in controlling emotions when trading. I was surprised there was not more quantification in the book.


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