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Daily Speculations The Web Site of Victor Niederhoffer and Laurel Kenner

30-Apr-2006
The Wright Brothers, by Allen Gillespie

I had an opportunity this weekend to visit the Wright Brothers Memorial, and I must say it left me highly inspired and with the impression that a speculator could learn a lot from the brothers.

  1. Optimism: It is not really necessary to look too far into the future; we see enough already to be certain it will be magnificent. Only let us hurry and open the roads. — Wilbur Wright
  2. Patience: The build up to the 1903 flights were years in the making and involved thousands of glider and lab tests.
  3. Observation: The Brothers learned from carefully watching vultures.
  4. Testing: The brothers tested many ideas before going with the one that made them famous. Reminds me of the Palindrome's theory on testing.
  5. Isolate Variables: The brothers methodically attacked each variable that effects flights.
  6. Don't Get too Excited by Success : Or you may loose your airplane in the high winds.