What: Live chat
Time: Today -7-8 pm Et
Who: Michael Covel, author of The Complete Turtle Trader
We look forward to seeing you all there. If you can't make it be sure to leave your comments and questions for Michael.
Contrary to the opinions of many, learning how to trade well can be taught to many average people, from bartenders to security guards, from academics to designers of computer games. The basics may be taught in as little as two weeks - yes, two weeks!
A man named Richard Dennis believed so strongly that investment skills could be taught that he made a bet with a fellow investor and then hired new employees, many of whom had no proven financial skills, ranging from bartenders to teachers, from unempoyed people to restaurant mangers.
He then gave them $1 million each, with a few stipulations, one of them being that they had to use his system.
Would you turn down $1 million dollars, no strings attached, except for having to trade based on a specific system? Would you be willing to gamble with someone else's money in the hopes that you might learn something new and come out ahead? Even if I was skeptical, I certainly woudn't turn down an offer like that!
Would you like to know what training and other factors led to success, even though the "Turtles" (as the students came to be known) didn't have the backing of firms like Goldman Sachs, any special conections or even degrees in finance, no cushy offices or bureaucratic ladders ready for them to climb? Whic ones made 100 percent or more eacy year? Which ones managed $3 billion dollars in 2007? What has happened to the Turtles?
You can go to http://collins.gather.com, to read more about The Complete TurtleTrader and to get Michael Covel's take on why he wrote this book. This is truly a book that can cause you to rethink common assumptions and may even change your life, help you revamp old or outdated habits and help secure key areas of your finances - or lower risk in those areas.
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Comments: 148
1. The book focuses on Richard Dennis and his belief that learning to invest and make money could be taught to just about anybody. What can people learn from reading your book? How could their assumptions and beliefs about investing be changed or challenged?
2. What did you learn from writing this book? What challenges did you face along the way (that you feel comfortable sharing)?
3. Do you feel that readers of your book will get a grasp of the basic Turtle trading rules and the type of mindset it takes to handle investing risks as they did? Have you changed your own investing practices since writing the book?
Mary Mc
How will my investing make money? (Dividends? Interest? Capital gains?) Specifically, what must happen for this investment to increase in value? And how do I go about it?
You did not miss it. It is tonight :)
Here is a questin for tonight.
Given the erratic gas prices is investments now more of a risks?
How much money do you need to start out?
Sorry i can't be there.
Blessings
I see you are here and ready :)
Did you want to start with some of the questions people sent in? I have some ready or perhaps there are some you wanted to discuss first? Welcome!
As someone who knows very little about investing, would this book be of benefit to me? In other words, is it basic enough for a beginner to gain understanding and get a good grasp on where and how to begin investing?
Could you address what you learned that helped get past any initial skepticism?
You are fine. Welcome!
:)
That does sound like a book that I would be interested in. Is there tips on how each of us can use the skills taught in our financial planning as well?
I got an email from Sara who wanted to know if you are using the rules yourself when you invest - or Connie, did you have further questions about the book?
I know Michael can address this in detail but the book completely changed my perceptions of investing and challenged all assumptions I had about the "right" and "wrong" way to approach investing money.
Warren Buffet for example advocates for "value investing" while others are more technical traders that follow the trend lines of stocks and moving averages. What is the approach that you take and recommend?
I see David L has joined us :)
" I'm intrigued...did any of the investors allocate their money in businesses that they knew nothing about, using only the rules laid out by Mr. Dennis? Most investment advisers, according to conventional wisdom as I understand it suggest that you put your money only into businesses that you know something about. Would the book change my assumptions about that? I'll be interested in hearing your answer."
I will take your advice and read the three books that you suggested. Can you give us some tips that you use when trading?
If you wanted to address any of the questions people have asked so far in more detail, fine. If not, could you perhaps let people know how this book affected your life and investing viewpoints and decisions? What you learned and took into your life?
No problem. Rick is also a Collins author :)