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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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James Sogi
3/15/05
The Killer Instinct
Grandmaster and others have talked about the killer
instinct. Years ago an opposing counsel asked for an
accommodation and with the reprieve ran to bankruptcy court.
After that my motto was, "No More Mister Nice Guy." Sports
and games are good to develop the killer instinct, to slam the
ball down the opponents throat, to take their queen, take
their dignity, but when it comes to the real world, I'm going
to tell you it's hard no matter how tough you are.
Often the difference between winning and losing and life and death is heart. When facing a pleading sympathetic opponent, it's hard to put it to them, but they will do the same to you. When faced with real life and death, even chickens and pigs, it is never easy to pull the trigger on a 200 pound mammal or to put it under the knife or snap a chickens neck, even for dinner. The hands shake, the heart pounds. Experience dulls the horror. "Nothing personal; just business". Otherwise it is going to be you. Been there too.
You need the killer instinct for market operations. It takes strength and toughness to pull the trigger when there is blood in the street...especially if the blood is yours. It takes strength to stare down the abyss to look at defeat and failure in the eye.
I am weak. I have to steel myself to do the things I need to do: To buy when the price falls through the bottom of ostensible support as stops are triggered in panic, to sell as buyers rush in a stampede dog pile, to live with failure, and to do it again, and again.
James Sogi is a philosopher, Juris Doctor, surfer, trader, investor, musician, black belt, sailor, semi-centenarian. He lives on the mountain in Kona, Hawaii, with his family