Re: [CANSLIM] Why Professionals go astray

From: "david frank" <camelot.homes@charter.net>
Subject: Re: [CANSLIM] Why Professionals go astray
Date: Tue, 3 Sep 2002 13:51:07 -0500

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I believe, Stan Weinstein had all of these attributes. He wrote a
stockmarket book classic. He was a stockmarket master. His record speaks for
iitself. I remember subscribing to his newsletter in the early 80's. along
with Martin Zweig's. Had a picture of himself at his swimming pool. Record
wasn't very good. david
- ----- Original Message -----
From: "Edward W. Gjertsen II" <ed@macktracks.com>
To: <canslim@lists.xmission.com>
Sent: Tuesday, September 03, 2002 12:59 PM
Subject: RE: [CANSLIM] Why Professionals go astray


>
> No one should be wondering why Weinstein's or any other professional's
> performance is poor relative to what they write or "should" be doing.
> Human nature is a cruel element in investing.  We are often at odds
> between the logical and emotional aspect of our lives.  Investing is one
> of the most disciplined games around.  I often compare investing/trading
> to professional golf.  In both, there is no excuse for poor performance
> other than you.  They are both an above the shoulders game.  Your mind
> can be your worst enemy or your best friend.  What separates the top 10
> golfers in the world from the rest of the pack?  Mental toughness,
> discipline and being prepared.  Truly great investors work just as hard
> preparing themselves mentally as they do searching for the next big
> move.  Like WON, your investment discipline should be your own.  Pulling
> an idea here, pulling an idea there, creating a methodology that YOU are
> comfortable with should be everyone's quest on this board.  Didn't mean
> to get heavy here, but if you want good, consistent results, work just
> as hard on the mental aspect of your investing.
>
> Ed Gjertsen II
> ed@macktracks.com
> -----Original Message-----
> From: owner-canslim@lists.xmission.com
> [mailto:owner-canslim@lists.xmission.com] On Behalf Of Warren Keuffel
> Sent: Tuesday, September 03, 2002 10:43 AM
> To: CANSLIM list
> Subject: [CANSLIM] Weinstein & Professional Tape Reader
>
> Someone on the list recently suggested that we should cast a jaundiced
> eye on
> Stan Weinstein's book because of his poor market performance. I wrote to
> the
> Hulbert Financial Digest (they track newsletter portfolio performance)
> and
> below is what they had to say. It looks like he missed the bull market
> entirely, which I find surprising considering his emphasis on technical
> analysis.
>
> So, what do you think? Should we toss out Weinstein's ideas because what
> he
> writes is not supported by real-world performance? (Katherine -- any
> comment?)
>
> Warren
>
> John wrote:
>
> > Hello,
> >
> > We tracked the Professional Tape reader from July, 1980 through the
> end of
> > 1999 which is when they had stopped publishing. During this time he
> had
> > gained 1.3% per year versus 17.1% per year for the market. Since we no
> > longer track it, it does not show up in the ratings any longer.
> >
> > John Kimble
> > Hulbert Financial Digest
>
>
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