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Daily Speculations The Web Site of Victor Niederhoffer & Laurel Kenner Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter; a forum for us to use our meager abilities to make the world of specinvestments a better place. |
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The Ring
1/13/05
By Karamvir Singh Bisht
"I think, what if the secret of the universe or trading is in these pages? It
never is, but it might be."
This quote from Jim Sogi reminds me of an old book,
The Money Game by Adam Smith.
The scene is set when the narrator describes a friend who stops to buy an
emerald or a diamond ring, for peanuts, from a very shady street peddler who
assures him that the stone is indeed real. So he asks his friend after the
purchase if he was nuts to believe that the ring is real.
The friend takes out the ring and looks at it with a faraway look and says:
"I know that it is not real. BUT IT MAY BE!"
The narrator then states that he then understood the mind and the psychology of
a speculator in that instant.