The New Market Wizards

久しぶりに"The New Market Wizards"を読み返していたらJoe RitchieとRichard Dennisの以下のようなやりとりがあった。

Joe Ritchie asked Richard Dennis what percentage of his trading was technical and what percentage was fundamental.

Dennis answered with scorn in his voice, "I use zero percent fundamental information." Dennis said "I don't know how you escape the argument that all fundamental information is already in the market."

Joe Ritchie asked, "How do you escape the argument that all the technical information is already in the market?"

Dennis said, " I never thought of that." Ritchie admired him for that. He had a humility about him that explains a lot of his successes.

Joe Ritchieの兄弟のMark Ritchieはこんなことを言っている。

The successful trader must be able to recognize and control his greed.

If you get a buzz from profits and depressed by losses, you belong in Las Vegas, not the markets.

You have to be able to think clearly and act decisively in a panic market. The markets that go wild are the ones with the best opportunity

"Market Wizards"と"The New Market Wizards"は投資関連の本でお奨めできる数少ない本のうちの１つだと思う。翻訳も出ているようだが、そちらは私は読んでいない。