garyoz
02-17-2009, 05:54 PM
I frequent finance blogs (particular options and technical analysis) one of my favorites is Adam Warner's Daily Options Report. He distilled Michael Lewis' NY Times Magazine on Shane Battier and a unique statistical approach to basketball into lessons learned for traders.
http://adamsoptions.blogspot.com/2009/02/new-time-hockey-coach.html#disqus_thread
Anyway, back to Battier. The better story here imho is that here's a guy with relatively light NBA skilss who turned all the cliche's they throw around into reality. He really worked and studied his way into becoming a productive player. Dr. Brett notes some lessons for us here as traders.
The implications for trading are enormous. Here are just a few:
1) Your success comes from knowing and accepting your strengths and limitations;
2) Your edge has to be cultivated on a continuous basis; you have to adapt to the game faster than it adapts to you;
3) You don't have to be freakishly talented to find success, but you do have to be freakishly devoted to exploiting your edge;
4) It's amazing how much you can accomplish when you are focused on the game and not ego-focused;
5) Study, study, study the numbers: Success comes from knowing who you're up against better than they know themselves.
Battier comes across as a bright, dedicated professional. Because he is such an intense student of the game, he finds opportunity where others do not. The dynamics of success aren't so different in athletics, markets, business--and life itself.
There is a link to the full article in the Times. May seem obvious, but how many handicappers (or traders) practice this?
http://adamsoptions.blogspot.com/2009/02/new-time-hockey-coach.html#disqus_thread
Anyway, back to Battier. The better story here imho is that here's a guy with relatively light NBA skilss who turned all the cliche's they throw around into reality. He really worked and studied his way into becoming a productive player. Dr. Brett notes some lessons for us here as traders.
The implications for trading are enormous. Here are just a few:
1) Your success comes from knowing and accepting your strengths and limitations;
2) Your edge has to be cultivated on a continuous basis; you have to adapt to the game faster than it adapts to you;
3) You don't have to be freakishly talented to find success, but you do have to be freakishly devoted to exploiting your edge;
4) It's amazing how much you can accomplish when you are focused on the game and not ego-focused;
5) Study, study, study the numbers: Success comes from knowing who you're up against better than they know themselves.
Battier comes across as a bright, dedicated professional. Because he is such an intense student of the game, he finds opportunity where others do not. The dynamics of success aren't so different in athletics, markets, business--and life itself.
There is a link to the full article in the Times. May seem obvious, but how many handicappers (or traders) practice this?