In thinking about the struggle to catch ducks, I have concluded that almost all the strengths and weakness we show in our market lives are manifested by duck hunters in their elusive search to bag the ducks. Obviously the ducks are as hard to catch as the markets are. And we miss them by just a hair the same way we do in the market. When you take a break from them for a minute, that's exactly when you should have been there to bag a trade or duck. Worse yet, is when you gloat about a good shot, or a perfect camouflage or a perfect retrieval from your Lab—-you're bound to go to the Bad One at that time. Gloating always leads to complacency and the adversary, whether it's the known factor that sees your book or the infinite wisdom of the market that is ready to do you in.

On further reflection, it's not just duck hunting that's exactly like market hunting with all the characters, all the different styles of trading. It's anywhere there's a struggle for prey and growth with limited resources and competition. It's like the struggle for life— I think.


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