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kulman
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Quote kulman Replybullet Posted: 12/Sep/2006 at 7:21pm
Thanks, but is it for Technical Traders or Fundamentalists? I mean "Market Wizards"? What subjects are covered broadly?

Edited by kulman - 12/Sep/2006 at 7:26pm
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Quote BubbleVision Replybullet Posted: 12/Sep/2006 at 7:34pm
"Market Wizards" Book contains interviews with the greatest living traders in the US and how they made it. Not Technicals of Fundamentals in particular.
One interview is of a man who was on verge of declaring himself Bankrupt and how he came back.. Amazing book.
The traders come from all the variety of life style and many markets.. Currencies, Commodities, Stocks or purely futures. Some were technicians while other were fundamentallists. There are Hybrids also... It all depends on "Everything works.. What matters is what works for you"
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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Quote kulman Replybullet Posted: 12/Sep/2006 at 7:42pm
Sound interesting. I would surely read it at the next available opportunity. I had mentioned somewhere that combination of funda & tech is very very rare but it could be a great combination.
 
I partially agree with  your favourite line "Everything works.. What matters is what works for you".
 
There you are leaving something to chance/luck. I feel that by value investing, you have such margin of safety that you are bound to be a winner. Would like your feedback on this.
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Quote Equity Buff Replybullet Posted: 12/Sep/2006 at 7:46pm
Some of the books I have read are already mentioned above. Some of the other books which I liked are Buffetology by Mary Buffet and Common Stocks and Uncommon profits by Fisher(reading now).
 
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Quote kulman Replybullet Posted: 12/Sep/2006 at 8:00pm

Do you mean, "The New Buffetology" by Mary Buffet & David Clark?

Yeah, it is a very nice read.
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Quote BubbleVision Replybullet Posted: 12/Sep/2006 at 8:05pm
You need luck all the time.. Without luck.. once can have an accident when you are crossing the road.. Or buying a stock.
Rembember "Value lies in the eye of the beholder" and you may have value but you need another valuer to identify that value. With Margin of safety, are you not talking about StopLosses...
You are bound to be a winner if you work hard on yourself and try to parctice the craft that you already know.
I am sure Most of the guys (and gals) on the Forum have not seen what a bear market looks like. One you see how "Value" could be destroyed, you will know the need to accept your mistake and to keep StopLosses.
 
Only when the tide turns.. you know who was wearing what -- Warren Buffet
 
And a Bull market lifts all boats and true value is only discovered after 2-3 years of bear markets and not 2-3 years of bull markets. Look when Buffet purchased most of his stocks.. End of 1974 after Dow was Down 60% from the top (in 2 years). Before that he had purchased in 1956.
 
Rembember earlier this year.. Gold was the best "value" against inflation. and Rembember.. Prices make money and not reasons.
 
 
This is the reason why i had written "Optimism for a Fundamentalist is the highest at the Tops while the Optimism for a Technician is the greatest at the Bottom". 
Read that once more...
 
"Everything works.. What matters is what works for you".
 
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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Quote BubbleVision Replybullet Posted: 12/Sep/2006 at 8:13pm
Ask the Japs.. What is value and they would have an answer.. Look at the history..
1970 Nikkei 1000... Bearishness all around. (prevailing mood was technicals only way to make money)
1989 Nikkei 40000 Bullishness all around (prevailing mood was only warren buffet)
2003 Nikkei 7000... Bearishness all around (Only technicals work)
2006 Nikkei 15600... Currently both work..
2015 ???????????
 
Value works but what is important is where you buy that value and Stocks DO NOT always go up in long term.
 
Look what happened in 1945 in Japan... The korean war ended and the Nikkei Fell 8% that day.
What end of War bearish for stocks ?
The reason given was Market down because of a fall in defence companies.
 
And for Intraday trading nothing works.. No technicals and no fundamentals.. as far as i am concerned.
 
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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Quote BubbleVision Replybullet Posted: 12/Sep/2006 at 8:23pm
From someone who trades currencies...
 
Is the Dollar not supposed to fall the most against the Asian Currencies?
 
Look at Euro-Yen, Chhf-Yen and GBP-Yen .. that all are sitting at 5 year highs. Try figure out the Fundamentals there...
 
US Trade Deficit 2004 was 45 Bln per month (Approx).. Dollar Index was 80.00 (Warren Buffet Sold there)
Us Trade Deficit 2006 is 65-70 Bln per month (Approx).. Dollar Index is at 86.00 (Warren Buffet covered the shorts at 90-92 at end of 2005 and early 2006).
 
I am not against Warren Buffet... Plz dont take it that way...  (He is a guru)
 
"Everything works.. What matters is what works for you".
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
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