Kicking Back at Lake Tahoe

September 11, 2012
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We are gearing up for a big fourth quarter here at Mercenary Trader. Markets are starting to heat up – welcome back, volatility! – and, per the usual, we’ve got some pretty exciting stuff in the works.

One small change we are excited about is better communication with you, the members of the Mercenary community, as to what is going on. This ‘news’ format is a part of that. In addition to keeping you in the loop, we’ll start up a mailbag, share interesting things we’re reading, and whatever else makes sense as we go forward.

A shout goes out to Mercenary community member Chris K, who dropped by Lake Tahoe last week to pay us a visit.

The below shot is the fire pit at the Lone Eagle grill on Tahoe’s North Shore, where Chris sat with us ( Jack and Mike) for an hour or two, enjoying a few drinks and swapping trading stories.

Chris mentioned how, in the Los Angeles area (where he is from), there aren’t a lot of great options for trader meetups. If you know of anything cool going on in the LA area, send us word (jack@ or mike@) and we’ll pass it along to Chris.

Speaking of meetups, we plan to do a lot more traveling – and informal events with Mercenary community members – in 2013. Whether you are East Coast, West Coast, or somewhere in the middle, you may find us headed your way for a regional WSOP event (to clean up in the extra juicy cash games).

You’ll recognize us by our Mercenary gear and our habit of catching up on market research at the table… look for more details in future missives like these.

If you want to meet us sooner rather than later, we would love to see you at the Wynn in October, where we will be attending the Alternative Asset Summit – also speaking – and the new hedge fund manager boot camp. You can find more details on that here.

If you aren’t subscribed to Trading Wisdom yet, you missed an interesting contrast of philosophies this week. On Wednesday we featured controversial advice from Bruce Lee, who advised that “a man must always exceed his level.” Then we provided a counter perspective from Robert Pirsig, who counsels that “mountains should be climbed without effort and without desire.”

Many of you pointed out that Lee died at age 32, which says something about risking burnout if the intensity becomes too much. Pirsig’s view, in contrast, really seemed to resonate. For example, Gustav writes:

wow, what a 360 degree turn from Lees philosophy of life..
This … exactly is what after many years of martial arts I learned…
Exactly that… you stop thinking ahead… so you stay in the present…
in the now… the only moment that exists is this one… and even when
I am here pushing the keys at my keyboard I dont see them anymore as
the mean to write you this message but as the present moment and I accept it
 as it is… this is the wisdom that no riches in the world can buy it… for it will
get rid of any fear or greed which is all based on your identification with the
material…. when I understood that… my trading improved a lot I mean really a lot…

We feel that a mix is best, where one feels the burn on a regular basis, but has the capability of turning it off for the sake of balance.

If you like successful investor profiles and are looking for a great read, check out this Bloomberg Markets piece on John Fredriksen: Shipper Uses Gut in $11 Billion Bet Worst Since ’70s Ending.

Fredriksen, an oil tanker tycoon who “bets the company every few years,” has had some crazy adventures — including four months in a Norwegian prison — and has managed to ride global shipping trends to vast riches. It’s a great story of guts, fortitude, determination, and a little bit of luck (which all captains of industry need).

Do you have a question about trading? Want to know more about us – who we are and what we do? Or maybe a view on markets you would like to share, and see discussed here?

All is fair game for the Mercenary mailbag. Just email jack@ or mike@ mercenarytrader.com.

cheers,

Jack & Mike

p.s. Like this article? For more, visit our Knowledge Center!

p.p.s. If you haven't already, check out the Strategic Intelligence Report!

p.p.s. Follow us on Stocktwits & Twitter! @MercenaryJack & @MercenaryMike


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