Dec

11

 98.6 Degrees: The Art of Keeping your Ass Alive , Cody Lundin is the best survival book.

The key to survival is to manage fear, keep warm and hydrated.

The key to survival is mental. Survival at its basic requires maintaining core temperatures and hydration. Fear has grave physiological effects on circulation, metabolic processes, judgment, and attitude. Fear can kill. Failure of judgment due to fear, panic, anxiety, causes bad errors of judgment that lead to death. Fear destroys fine motor coordination. Many outdoor deaths are due to simple hypothermia. Food is not the problem as most can live for days without food. Most survival scenarios last only three days. Water and core temperature are key. Physiologically loss of 2% of weight in water reduces judgment by 25%. Basic preparation requires adequate clothing and water, not just for the day hike, but for unexpected adverse weather and duration. Lundin discusses the physiological aspects to prove his points. Preparation should be basic, clothes, water, fire.

Applying survival lessons to markets is worthwhile as trading is a performance endeavor. The physiological aspects must be considered in addition to the statistical, the macro and qualitative. Sleep, fear, mental aspects and even hydration are key. 3/4 of you are chronically dehydrated. Dehydration is often confused with hunger and fatigue.

The second excellent book is First Aid, A Pocket Guide by Christopher Van Tilberg. It is a basic rundown of back country first aid procedures in a checklist form of the major injuries and treatments.

Rocky Humbert writes:

Try trading without electricity, telephone, and even Windows/XP/Linux!

The "modern" "self-reliant" speculator is as dependent upon the Lineman climbing the telephone pole as he is to the Chinese factory worker who assembled the replacement step-down transformer which failed due to the weather; as he is to the FedEx driver who spent the night delivering the replacement part.

Our complex and specialized society is dependent upon the countless people who all get up each morning and do their jobs creating a sum that is greater than the parts.

A modern speculator cannot function without water anymore than he can function without the vast and dynamic human and capital infrastructure that is modern society.

As the saying goes, "for want of a horseshoe nail, the kingdom was lost."


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