The Same Turtle Principles

Yesterday’s Turtle panel in Chicago yielded expected results: all of the Turtles adhere to long term trend following techniques rooted in those original Turtle lessons from so many decades ago. Many said they sill use the money management guides as taught. I still need to get the exact phrasing, but Turtle Paul Rabar had a fantastic statement on why trends and trend following persists as a great money-making strategy. What separates some Turtles from others? I go into this subject in chapter 11 of my book “The Complete TurtleTrader”, but this quote from Jim Rogers gets to the point:

“Most of us don’t have the discipline to stay focused on a single goal for five, ten, or twenty years, giving up everything to bring it off, but that’s what’s necessary to become an Olympic champion, a world class surgeon, or a Kirov ballerina. Even then, of course, it may be all in vain. You may make a single mistake that wipes out all the work. It may ruin the sweet, lovable self you were at seventeen. That old adage is true: You can do anything in life, you just can’t do everything. That’s what Bacon meant when he said a wife and children were hostages to fortune. If you put them first, you probably won’t run the three-and-a-half-minute-mile, make your first $10 million, write the great American novel, or go around the world on a motorcycle. Such goals take complete dedication.”
-Jim Rogers