I saw a small introduction of this concept today in a book, and the immediate question that got me baffled is:
Why Mr Drummond, a trader with 40 yrs experience, and claimed to have such a fantastic method, is going for selling courses about his methods worth few hundreds to few thousands dollars? Given such good method, or as claimed to be, would have turned $100,000 to about $262 million in just 30 years with 30% growth, assuming Mr Drummond uses the first 10 years to perfect his method. With $262 million in his account, I am wondering why Mr Drummond is interested to get a mere few hundreds or thousands from aspiring traders?
That doesn't sound logical to me. Perhaps someone can enlighten me.
Note: I make up the numbers, but you get what I mean here.
A breath of fresh air?
Re: A breath of fresh air?
It's a reasonable question for sure. I cannot speak for Charlie directly on this but I know him well and from my personal experience with him over many many years the answer would be this: It is not a money issue.
Money does not count for everything in life, it's not even close, and once you have accumulated some money then one has even more incentive to turn to other more important issues. The satisfactions that come from writing, developing new ideas, inventing new market insights, sharing them with a group of traders willing to spend the time getting into the methodology, can far outweigh anything else one can think of. For these and whatever other personal reasons Charlie might have, this has become his life work and it is what he has chosen to do in the final decades of his life.
To me this is very understandable and is illogical only if you take the most crude and I would say shallow approach to the experience of living, and if one regards financial calculus as the only measure of worth, self-worth, meaning, gratification, etc .
Money does not count for everything in life, it's not even close, and once you have accumulated some money then one has even more incentive to turn to other more important issues. The satisfactions that come from writing, developing new ideas, inventing new market insights, sharing them with a group of traders willing to spend the time getting into the methodology, can far outweigh anything else one can think of. For these and whatever other personal reasons Charlie might have, this has become his life work and it is what he has chosen to do in the final decades of his life.
To me this is very understandable and is illogical only if you take the most crude and I would say shallow approach to the experience of living, and if one regards financial calculus as the only measure of worth, self-worth, meaning, gratification, etc .
-
Guest
Re: A breath of fresh air?
pldot wrote:It's a reasonable question for sure.
A reasonable question coming from a shallow person? You are contradicting yourself. Buffett must be quite shallow for not sharing his formula. Note that he never share his formula. What you find in the book stores about value investing is not form him.pldot wrote:To me this is very understandable and is illogical only if you take the most crude and I would say shallow approach
In this case Charlie could have shared it for free, and if it really works, the trader can pay him back as a gesture of gratitude, instead of charging upfront.pldot wrote:Money does not count for everything in life...
The satisfactions that come from writing, developing new ideas, inventing new market insights, sharing them...
PS. I have nothing against Charlie or anyone behind this. This is a healthy discussion based on logic. I doubt if Charlie is interacting with the people here himself.
Re: A breath of fresh air?
Yes of course "shallow" is a bad word to choose on my part, I don't really mean that and don't have any justification for it.
It does seem that everyone would like things for free these days, but that's not really realistic in this situation.
Charlie interacts with traders through the mogs and occasional private seminars, and sometimes (though rarely) here.
It does seem that everyone would like things for free these days, but that's not really realistic in this situation.
this has happened on a number of occasions, when individuals have come forward after using materials from the gray market and wanted to express appreciation.the trader can pay him back as a gesture of gratitude, instead of charging upfront
I doubt if Charlie is interacting with the people here himself.
Charlie interacts with traders through the mogs and occasional private seminars, and sometimes (though rarely) here.