Wednesday, February 11, 2015

Book That Looks Interesting - Doyle Brunson's Super System: A Course in Power Poker.

From the "brooklyn investor" review:

Brunson says, "Timid players don't win in high-stakes Poker". This is true in the markets too. But that doesn't mean you have to be "loose" or that you should ignore risk.

I think there are a lot of smart and competent investors and traders that don't do well because they don't have this sort of killer instinct. They are way too timid. They love a stock and they have 2% of their AUM in that stock, for example. I read a decent book on investing not too long ago and was impressed, but when I looked at the author's portfolio (no names!), it looked more or less like an index.


whydibuy said...


It was Ben Graham who said in his book The Intelligent Investor, that one also needs " firmness of character" i.e. the nerves and confidence (balls) to back his conclusions with real money. Otherwise the other attributes of reasoned analysis and capital can do him no good. Warren buffet has also used that line when moving into an investment big.

Anonymous said...

A whidibuy Friday night - come heckle Credit Bubble stocks.

Where's the whydibuy blog?

whydibuy said...

Who is heckling anyone? This so called insight is old news in the annals of stock market history.
I am simply pointing out that what Doyle says about meek players has already been said by the best and brightest in the investing world.
I guess I'll further heckle with the addition of Charlie Mungers Line about not be parsimonious when one comes across a solid investment opportunity.