Southport NC
Posts: 1 since May 2019
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Manuil--EEK was written as a personal life memoir for our family and Dad's friends. There is no in-depth info about Everett's trading method. It boils down to "love to lose money" meaning loving losses so much that you take them immediately every time, resulting in numerous small losses. "Hate to make money" refers to hating to take a profit, so let profitable positions ride, with a trailing stop. (Brett Steenbarger wrote that Klipp took profits quickly, which is not correct.) This is a fairly common strategy, but Everett phrased it in a novel way. Its success requires absolute discipline, which few humans possess!
There is more discussion of Everett's trading in "The Dao of Capital" by Mark Spitznagel, Chapter one "The Daoist Sage, Klipp's paradox".
The Board of Trade was a fantastical place in Dad's day. Imagine standing face to face, in a pit, with all who are bidding and asking. The advantage was that they all knew each other.They knew one another's trading style, history, skills, foibles and personality. They were "the market". Everett loved every minute!
Good luck with your trading!
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