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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 Grandmaster
Nigel Davies
10/11/04
A Bad Trade, A Bad Tooth... When to Stop the Pain, by Nigel Davies
If that tooth bothers you, make another appointment and we'll press on with the root canal surgery," were the dentist's parting words. Yet despite increasing discomfort I still haven't made the call, finally realizing today that this can't go on. Always one to look for the silver lining I see a beautiful analogy in trading. How often do we cling on in the hope that things will turn around rather than face the harsh reality that it ain't gonna' get any better. Yet we can be very resourceful in persuading ourselves otherwise, finding reasons to stay in when we should have been long gone. Time to make the call, but it would have been better if I'd done it last week.
Photos © Larry Fletcher
2004
Nigel Davies takes
on fellow Grandmaster Art Bisguier as Victor Niederhoffer looks on. (2/23/4)
Nigel Davies is a trader and an International Chess Grandmaster residing in the United Kingdom. Visit his Web site at www.tigerchess.com.