Complete Beginners Whip the Markets
The bestselling book TurtleTrader is the true story of 23 novice traders becoming literal overnight millionaires. This story is absolute proof anyone can learn to invest and make big money. Think you must be born with skill to excel? You are already defeated. But if you have an open mind, and are willing to work hard, you can be the next TurtleTrader.
Nurture Trumps Nature
One of my favorite podcast interviews over the last 6 years is with Swedish psychologist Anders Ericsson (ep. 437). He goes to the heart of not only what it means to be human, but what it means to be a human who achieves:
"Why are some people so amazingly good at what they do? Anywhere you look, from competitive sports and musical performance to science, medicine, and business, there always seem to be a few exceptional sorts who dazzle us with what they can do and how well they do it. And when we are confronted with such an exceptional person, we naturally tend to conclude that this person was born with something a little extra. "He is so gifted," we say, or, "She has a real gift." But do they? For more than thirty years I have studied these people, the special ones who stand out as experts in their fields--athletes, musicians, chess players, doctors, salespeople, teachers, and more. I have delved into the nuts and bolts of what they do and how they do it. I have observed, interviewed, and tested them. I have explored the psychology, the physiology, and the neuroanatomy of these extraordinary people. Over time I’ve come to understand that, yes, these people do have an extraordinary gift, which lies at the heart of their capabilities. But it is not the gift that people usually assume it to be, and it is even more powerful than we imagine. Most importantly, it is a gift that every one of us is born with and can, with the right approach, take advantage of."
Deliberate practice is the gift.
That's the only secret.
That said, most people disagree with Ericsson. They disagree with deliberate practice. They think it's in the DNA that we are born with it. They cite child prodigies or mention John Lennon and Paul McCartney. Next they talk about athletic stars.
They are dead wrong. Just excuses.
Success is not innate. You are not born with talent.
Anything can be learned including GREAT trading.
6 million+ listens across 600+ episodes: investments, economics, decision-making, behavior & entrepreneurship. Guests: Nobel Prize winners Robert Aumann, Angus Deaton, Daniel Kahneman, Harry Markowitz & Vernon Smith. And: James Altucher, Jean-Philippe Bouchaud, Marc Faber, Tim Ferriss, Jason Fried, Gerd Gigerenzer, Larry Hite, Sally Hogshead, Ryan Holiday, Jack Horner, Ewan Kirk, Steven Kotler, Michael Mauboussin, Barry Ritholtz, Jim Rogers, Jack Schwager, Ed Seykota, Philip Tetlock & Walter Williams.
Crowd Madness on Film
Michael Covel's film premiered on The Documentary Channel® to wide acclaim. Nobel Prize winners and legendary traders set the record straight on great trend trading and behavioral finance.