Lupus Capital

Jeffian, I too used to dismiss chartists on the advice of John Train, but you are both wrong, I'm afraid. Of course one should understand properly a cash-flow statement, p+l and bal. sheet but one does need to trust one's charts. (I have never looked back since my WD Gann course two years' ago). Specifically, if you had trusted the chart on Regus you should have and would have closed your bear there as, in fact, should have Mr. Cawkwell. Gann also said, "Don't have an opinion". Fantastic advice I must say. Why? Because when I used to have an opinion and not look at a chart, I used to lose lots of money. Now I make money - a turnaround that I can put down to no other factors. Having an opinion is also the reason most people lose most of their money on the advisory liffe options desk at the UK'S second largest private client brokerage. "You should write Br. Airways 120 calls", they say. Why don't you write Aviva 800 puts," they say. "How can you not have an opinion?" they snigger. And yet they too (the associates) all have mortgages which, curiously, are never discharged as a direct result of the fruits of their expertise and they are the doleful owners of shrinking portfolios.

It is no wonder stockbrokers are the lowest of the low. They lose people's money while they just sit and read the paper all day. I should know. I'm a stockbroker. They sit around me and wonder what the hell I'm doing and why I am always busy doing SOMETHING. Thankfully for my clients, I STOP them from losing money. And I happily bully them because bullying is exactly what they need to stay in the game and make progress. If I had been bullied (and by that I mean by not being allowed to buy rubbish like Cannon Street and not being told to sell Tesco at 75p) I wouldn't have lost £400000 in the first nine years or so. I could go on...

Happy New Year.