Sep

27

Quote of the Day, from Jeff Watson

September 27, 2012 |

Whatever you think of Agassi, there are several market lessons here, and Agassi must have either read the Chair's books or have been taking lessons.

"Quit going for the knockout, he says. Stop swinging for the fences. All you have to be is solid. Singles, doubles, move the chains forward. Stop thinking about yourself, and your own game, and remember that the guy on the other side of the net has weaknesses. Attack his weaknesses. You don't have to be the best in the world every time you go out there. You just have to be better than one guy. Instead of you succeeding, make him fail. Better yet, let him fail. It's all about odds and percentages. You're from Vegas, you should have an appreciation of odds and percentages. The house always wins, right? Why? Because the odds are stacked in the house's favor. So? Be the house! Get the odds in your favor."

-Agassi, from Open: An Autobiography

Victor Niederhoffer writes:

As usual Agassi has it all wrong–something that can be predicted from an ingrate from a family like his. The only one that can go for singles, that can grind is the house. The player should never grind.

Jim Sogi writes: 

Lions and hyenas use a similar strategy when they kill a buffalo or wildebeast. They group up and wound it. They don't go in for the kill. They let it bleed a while, weaken, then tear it up and eat it. Why risk injury when waiting works.

George Parkanyi writes:

What kind of a market lesson is that? "We'll let you stew on your margin call for a while– THEN we'll come and throw you out of your house." ; )


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3 Comments so far

  1. steve on September 27, 2012 12:08 pm

    Well then Agassi sure had great success in his career. there must be something valid in his comments. For someone who had it all wrong he won 8 grand slam titles and all four of the majors.

    Some “grinders” in tennis who come to mind.

    Jimmy Connors
    Ivan Lendl
    Chrissy Evert

    They sure had great success by grinding opponents down. I am not sure if Rafa is a grinder since he is not an overwhelming server. But he sure has had great success.

  2. vic on September 27, 2012 4:59 pm

    steve. you have a way of misinterpreting or taking specialized points I make and critiquing them that is ineffable. My remarks about grinding related to markets. the idea that a bet on a football game rather than a poll mite be wrong is completely off the point. the point spreads that the houses makes are incredibly accurate and that corresponds to a prediction market. i’ve had to run defense for you for years with your comments here when so many were turned off by them,especially the comments that were shall we say “well known “. similarly with the endless trouble you caused me on the spec list. please dont be so vituperative on this site if you wish us to continue presenting them. vic

  3. steve on October 1, 2012 8:43 am

    I apologize to any who were offended. It is not my raison d’etre to comment here on this website. For the facts, I have not been on your spec list for years. I rarely comment here and when I do it is only if I think it is a positive statement that others may benefit from.

    Whenever I have commented it has always been sent through here and if found out of bounds I assumed the Editor had last say as to whether it is released or not.

    However you have been most gracious to me on many levels and for that I am eternally grateful.

    I would have just thought one thing. If you take such personal offense to my statements and comments I would have thought it more appropriate for you to have expressed them privately since you do have my email rather than on your website which you have full control over content and editing and the power of a public verbal flogging.

    Yet I succomb to your wishes and shall restrict any comments going forward, In all humbleness I remain

    Your servant,

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