Daily Speculations

Speculation, Self-Perception and Coon-on-a-Log

Concerning the many recent books on trading and self-perception, our resident enfante terrible, the formidable hedge fund manager Mr. E, remarks: “We love all these books that SHAPE academic wisdom and public opinion, using tests and polls, where the participants "don't have a dog in the hunt" (hopefully I’m not offending the Southerners with my choice of a Southern analog). Think of all the students of financial markets who read the instructors’ books based up such vital polling and tests....so please don’t educate them too well as we need some targets for our daily doses of napalm."

To which Speculator J.T. replies: "No offense taken from Richmond, Virginia. These books and polls mostly offer nothing more than enough rope to hang yourself. Wade B. Cooke comes to mind.  Some people like losing. These are some of the same people that are looking for a cherry-picked idea coming from the latest 'Best Seller.' It’s hard to take a couple of kernels of corn in your own hand and go out and sow and reap your own harvest.  That’s why Vic and Laurel’s "Practical Speculation" will not appear on the Best Seller lists or shelves (thank God) -- because it doesn't have the words "How to make... Overnight" in its title.  Most people wouldn't want to spend their money and time reading a book on Common Sense or anything Practical.  They feel that it would be boring or unfruitful to the wallet, but the holy grail book will definitely change their lives and monetary status (yeah right). I agree: Keep 'em stupid, because I like winning.

"Side note: I am about to share with you one of the ways that Southern Men speculate.  I hope that all will have open mind when reading this mentioning. I have read numerous Speculative posts about Horse Racing, Chess, and let’s just say "fancy" card games. The only thing other than the markets that I relate to is Vic's mentionings of Checkers.  I had to consult a dictionary when reading Vic's first book because I had no idea that Squash was anything other than a vegetable.  Growing up I first learned to speculate watching the extended Family bet while playing "Coon-on-a-log" in the foothills of the Blue Ridge in S.W. Va.  This game taught me so much about life, control, money, odds, feelings, emotions and other skills necessary to be a successful speculator.  Everyone of course knows what Coon Hunting is?  This is where you get a good pack of blue-tick hounds and flashlight and run a Raccoon up a tree to shoot down for the following night’s meal.  Every now and then the boys would catch a coon bag it and then take it to the pond.  The coon is placed on a log and floated out into the middle of a pond.  The wagering is over whose dog is going to swim out and knock the coon off the log.  For the record, I have never witnessed or heard of any coon ever being killed nor any hound, only scratches and empty wallets prevailing." -- jt