RE: [CANSLIM] Why Professionals go astray

From: "Edward W. Gjertsen II" <ed@macktracks.com>
Subject: RE: [CANSLIM] Why Professionals go astray
Date: Tue, 3 Sep 2002 12:59:15 -0500

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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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