Når jeg møter nye mennesker, sier jeg bestandig at jeg er spekulant. - Du er altså en gambler, får jeg til svar. - Ja, sier jeg. - Jeg tar kalkulert risiko. Kall det gjerne gambling, men jeg kaller det rasjonell gambling.

Likevel er skepsisen stor. Dette er kanskje illustrert bedre i teksten nedenfor, sakset fra et innlegg på en "spec-list" som jeg er med på. I hvert fall er teksten underholdende!

My father in law is a medical doctor, EMT surgeon.  He took his daughter aside 1 year after our marriage and said, " you married a gambler"  There is no way in hades he can day trade for a living.  Better he goes and works with  wife's big brother at Toyota dealership.

I lost.  She moved back home with dad.  I won she moved back in with me. I won again. She stayed forever, father in law said, "wow I did not think it could be done."

Past couple of years have been tough on the day trader.  Corvette sold, race car sold, race car parts, sold..New firebird in the 2001 MSN article sold last week.  Most of my trophies are in hock.

Father in law takes me aside. "Are you sure this is what you want to spend your life's work doing?."  I am certain.  " Well if that the case, it best if you kids come stay here at the house.  Let's say until you are way ahead.  At that point, why dont you buy this house from me when you have the cash to pay in full.  Only when you have that cash to pay in full why dont you take up some other business and diversify."

Father in law  fell victim to the nasdaq in 2000.  I told him it is just a game.  A game best played by those who make it their work. It is best for you to diversify.  "in to what?" he asked  I am not allowed to say, I replied. 

In 2001, out of charity, I gave him some markets advice.  He was amazed that it was the direct opposite of his brokers.  So he asked for more. I told him I never give stock advice and never ever ever, give to family, as that ruinous.  It has been hinted around, perhaps I can day trade a small account.  I said no way in hades.  It is every man's job to manage his own monies.

After 6 years we have both come full circle and an understanding.  Day trading indeed is ruinous.  However, a professional speculator can and will over time, profit handsomely.

Which indeed, I have come full circle on this list.  I went from journey man electrician, with a fine income.  Now I am an apprentice electrical engineer. It is my choice and I know it is right for me.

Susan Niederhoffer cautioned the kids on the spec list, here,  2 years ago.  Said maybe it best to be a speculator after you achieve some success in other business.  Why dont you kids wait.

" Wait!  I exclaimed, wait for what?"  I guess it is wait until you can afford to lose.  I think it is wait until you understand how to win.  In any event It was great advice.  It is one tough way to make a living, speculating.

I always do everything bass aackwards.  Therefore I will indeed build business off of my speculations. That is my job.

Funny how father in law came to same conclusion.  As I asked him, what you see coming of all of this?  He said, well once you hit your goals, I hit mine.  I sell you all these holdings, then I retire.  " I want to do mission work in Russia for GOD"

How is that for some irony?  The day trader is to stay and run business.  Meanwhile the bible-salesman goes to save the world.

His bible is supported by atlas shrugged....on the coffee table of a Lack.  I do not know whether to laugh or cry.

I will follow my wife's advice.  ", Jimmie, Shut up and trade".  She said it to me two weeks ago, after I missed a move I intended to play.  I heard it someplace else the same day.

Chapter 13, Shut up and trade...LACK       

my father in law mike was the consummate businessman. owned porter chevrolet the
leading chev dealer in boston. loved to gample, drink you or anyohne else under