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The story of the turtle trade

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Post time 2019-5-2 11:12:58 | Show all posts |Reading mode

Imagine seeing thatthis ad has to beburied on the back of Barron’s ad. Why are ads today a problem for the previous generation? It has more problems than ever before. One of the people replied that advertising is a billionaire trend following traders today.

A mob of students who cannot be ignored, without much experience on Wall Street, how they were trained to become millionaire traders . Donald Trump’s show "The Apprentice", played out real money and actual hiring and dismissal, thinks in the real world. However, these apprentices threw millions into the fire and challenged the millions making money almost immediately threatened. They did not try to sell ice cream on the streets of New York City. They buy and sell stocks, bonds, currencies, oil, and dozens of other markets, making millions.

This story blows the success of the traditional Wall Street pop culture so well-made image of the prestige of the roof, connected, and not at the table The place where the little guy on the beat the market (beating the market is no small task). Legendary investor Benjamin Graham always said that analysts and fund managers as a whole cannot beat the market because of their market in a significant sense. Most importantly, the academic community has been arguing about efficient markets for decades, and once again hinted that there is no way to beat the market average.

However, it is feasible to make a lot of money and beat the market, if you do not follow the trend, if you do not follow the rules. A person has a chance to win the game of the market, but he or she needs to play the right rules and attitude. The rules and attitudes of these rights collide with basic humanity.

The story of this apprentice in real life is still buried. I did not pick up the "Financial World" magazine randomly. July 1994 Published, featured article "Top Players on Wall Street." On the cover is the famous fund manager Soros playing chess. Soros has $1.1 billion this year. The top 100 Wall Street paid players listed in the article in 1993, where they lived, how many of them, and generally they. Soros is the first time. Julian Robert's son is the second, 5 million dollars. Bruce Kovner is fifth, at $2 million. Henry Kravis of KKR is the eleventh, 56 million US dollars. Famous merchants Louis Bacon and Monroe Trout on the list.

Ranking (and revenue) provides a crystal clear view of who is the "master of the universe" money. Here, there is no doubt that "the top player in the game." Unexpectedly, one of them happened to be from my home in Richmond, Virginia, living and working two hours away.

On the twenty-fifth list is R. Jerry Parker, Jr., from Chesapeake Capital, he Just made 35 million dollars. Parker is not yet 40 years old. His short biography describes him as the former pupil of Richard Dennis (who?) and points out that he was raised as a "turtle" (what?). Parker is described as an accountant who attended Dennis’s school in 1983 to learn his "five categories of trend tracking systems, and then the twenty-first year old." The article also stated that he was Martin Zweig (who? ), who happened to be the thirty-third disciple of the year on the list with the highest income. The name of "Dennis" at that moment was neither more nor less important than "Zweig", but the implication is that these two men have made Parker extremely rich.

The common wisdom, you will find that the only way to succeed is on the 80th floor and FRP towers in New York, London, Hong Kong, Or working in Dubai is obviously wrong. Jerry Parker's office is absolutely in the middle, 30 miles away, in Manakin Clogs, Richmond, Virginia. Soon after reading the magazine, I drove to see his office, pointed out its lack of pretence, sat in the parking lot thinking, "You are lying to me, is this all his money?"

A famous quote from Malcolm Gladwell, "How much value can be, rationally analyzed in the blink of an eye for a few months." See Parker's The country office is for my electrical impulse to permanently eliminate the importance of location. But I know the other people who knew nothing about Jerry Parker than in 1994, what was the problem in the financial world. Do these students have more? How did they become students? What are they taught? , Who is this person Dennis taught Parker and others?

Richard Dennisis a traitor, Chicago’s wildcatting business A large investment bank or Fortune 500 company is not connected. As "locals" like to be on the Chicago trading floor, Dennis said, "Betting on his left nut." He has a bizarre knack for his early twenties. Unlike the general public who is obsessed with their "feelings" to make decisions, Dennis uses mathematical tools to calculate risks and uses his own advantages. He learned that the students he taught had never barked stock tips like Jim Cramer. More importantly, Dennis proved his ability to make money in the market is not luck. His students dent, mostly novices, millions of him and himself.

In 1983, when he was thirty-seven years old, he made the first few hundred grubstake hundreds of millions of dollars. Dennis did it on his own terms in less than 15 years, and anyone has no formal training or guidance. He spent calculating risks and used a lot of money. If he likes an industry, he takes it all he can get. He lives in the "gaming" operating market.

Dennis figured out how to profit from behavioral finance. Ten years of consistent Nobel Prize was handed over to the professor's preaching theory in reality In the world. His competitors can never get his consistent ability to use irrational market behaviors and all types of handles in the entire market. His understanding of probability and profit is whimsical.

Dennis just marched to a different drum. He shied away about his net worth even though reporters speculated that it was widely publicized. "Dennis said:" I found it kind of clumsy. Maybe he was taciturn and focused on his wealth, because what he really wanted to prove was his earning skills, nothing special. He believes that anyone can learn how to trade, if taught properly.

His partnerWilliam Eckhar, they disagree, they The debate, in a group of traders who wanted to become apprentices, recruited a "class" as a result of two trading days during 1983 and 1984. Is the name of "turtle"? This is purely a nickname used by Dennis for his students. He had traveled in Singapore and visited a turtle farm. Inspired by the creeping turtles of the huge VAT, he said, "We are growing merchants just like turtles growing in Singapore."

After that, Dennis and Eckhart taught newbies like Jerry Parker how to close millions and "schools", with few solid facts to support them, and over the years evolved into word-of-mouth experiments. The National Enquirer’s version of the story was captured in the title of The Wall Street Journal in 1989, “Can the skills of successful trading be learned? Or is they born with some kind of sixth sense lucky few born?”

Since the 1980s, many people may not know if the story of the sea turtle is still relevant. It is more than ever Many relevance. The philosophy and rules Dennis taught his students, for example, by hundreds of millions of dollars, plus the trading strategies adopted by hedge funds are similar. Hunting sticks to the typical truth of CNBC stock tip, never heard of This story, but the players on Wall Street, those who make real money, know.

was not told more about the inside story The audience until now, because Dennis is not a household name today, because there have been so many on Wall Street since 1983. After the experiment, the characters, teachers and turtles went their separate ways and fell through an important human experiment through a crack , Even if it happened today is remarkable, then.

What is the true story, and how did the turtles learn their craft? What kind of trading rules do they teach, average traders or investors and how to use these insights in his portfolio today? What happened to them after the experiment, in the following years? Dennis and his students The cooperation did not find answers to these questions, which made me very curious.

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Post time 2019-5-2 11:14:37 | Show all posts
双脚踏翻尘世浪,一肩担尽古今愁。
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Post time 2019-5-2 11:14:36 | Show all posts
如果换我先开口,日子是否还一样细水长流
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Post time 2019-5-2 11:14:36 | Show all posts
嘿嘿...没事我才不骂人呢...
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Post time 2019-5-2 11:14:32 | Show all posts
怎么就没人拜我为偶像那??
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Post time 2019-5-2 11:14:28 | Show all posts
嘻嘻~`要是只看你的话~`~``很容易让人家以为你也跟偶们一样是天使类~`(偷笑中````````
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Post time 2019-5-2 11:14:24 | Show all posts
吥脱裤子也能放屁,/.!丗界真奇妙..!!..
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Post time 2019-5-2 11:14:23 | Show all posts
我想骂我自己
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Post time 2019-5-2 11:14:23 | Show all posts
小伙伴们在哪里~
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Post time 2019-5-2 11:14:17 | Show all posts
死猪不怕开水烫小车不倒只管推
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Post time 2019-5-2 11:14:17 | Show all posts
尊老爱幼,帮助别人后,你会感到无比轻松快乐。
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