Sound Decision-Making Abhors Arrogance

An excerpt from here:

“…in contrast to astrology, one must accept the fact that success is not due to a fortuitous concourse of stars at our birth, but due to a steady trail of sparks from the grindstones of hard work, determination, good planning, and perseverance. When it comes to the future, there are three kinds of people: those who let it happen, those who make it happen, and those who wonder what happened.”

That link and quotation was posted in response to this comment earlier today on my blog:

“The people William Eckhardt is talking about have something special in their personalities. They are .001% of the population…The turtles were a carefully selected group of individuals who were acting on Richard Dennis’ niche.”

This individual has not read my text on the Turtles. It’s amazing how convoluted (and misunderstood) the Turtle story continues to be in the minds of some. Bottom line, this poster is the type who believes in astrology. This is the type who let’s it (life) happen to him or her. More from that link about sound decision-making:

“A decision usually involves three steps:

1. A recognition of a need: A dissatisfaction within oneself–a void or need;
2. A decision to change–to fill the void or need;
3. A conscious dedication to implement the decision.

So aside from that, we see that making the correct decisions is not only what we want to do, but includes what we have to do. The fool who repeats again and again: “I am bound, I am bound,” remains in bondage.”

Everyone gets what they want!

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You might like my 2017 epic release: Trend Following: How to Make a Fortune in Bull, Bear and Black Swan Markets (Fifth Edition). Revised and extended with twice as much content.

9 thoughts on “Sound Decision-Making Abhors Arrogance

  1. Depending on what study you read, some where between 2-5 % of the population is financially well off. Only 2% make money in the market, about the same goes for stock brokers and financial advisors.So roughly 95-98% of the public is broke or in need of financial help. Maybe there is a reason the rich get richer. They plan.

  2. Very nice post, very nice link.

    “The difficulty in life is the choice.” -from link

    There is freedom within certain limits, but beyond those limits there is no freedom. Between these two conditions there is ample room to make things happen by exercising one’s freedom of choice.

    In other words there is room for free will within a broader determinism. It would be foolish to believe we are free agents, but equally foolish to think we live in eternal shackles. One has to live the paradox. That’s what Trend Followers do.

    By knowing this, a person can save himself from trying to do the impossible, and he can do what is possible.

  3. Excerpt from link: “To be honest, you must fully accept that at this moment, you can only be what you are. No more, no less; however, with the inevitable passing of each moment of time, you will gradually, but surely change — to become more or less, better or worse, stronger or weaker. Your choice is the direction of change: it is yours alone. The only true competition is the rivalry within your changing self. It is the very basis of a good decision making.”

  4. An excerpt from my book “The Complete TurtleTrader” that gives the background perspective of the Turtles:

    “Richard Dennis wanted a mishmash of personalities, similar to MTV’s Real World and their diverse casting calls. He selected both far-right-wing conservatives and bleeding-heart liberals. A high school graduate and an MBA were picked from the thousand-plus applicants who threw their hats into the ring. The wild cross-section of his final Turtle picks demonstrated Dennis’s diversity desires. There were college graduates from the State University of New York at Buffalo (business), Miami University in Ohio (economics), the New England Conservatory of Music (piano, music theory), Ferrum College in Virginia (accounting), Central Connecticut State University (marketing), Brown University (geology), the University of Chicago (Ph.D. in linguistics), Macalester College (history), and the United States Air Force Academy. Others Dennis students had recently held jobs at Cushman/Wake-field (security guard), Caterpillar Tractor (salesperson), Collins Commodities (broker), the Ground Round Restaurant (assistant manager), A.G. Becker (phone clerk), Palomino Club (bartender), and Dungeons and Dragons (board game designer). One student simply declared his status as “unemployed.” Earlier job histories of those who made the final cut were even more mundane: kitchen worker, teacher, prison counselor, messenger, accounting assistant, and waiter.”

  5. Always fascinating to read the Turtles background!

    Couple of relevant excerpts about “nature v. nurture” from link Micheal posted : http://home.ubalt.edu/ntsbarsh/opre640/partxiii.htm

    “Man has no nature, but he has history. In man the creature and the creator are one.”

    “… describing nature as if it has human traits is a modeling process called the “pathetic fallacy.” It has been found that, so far as we can discover, nature is indifferent to our values and can only be understood by ignoring our notions of good and bad.”

  6. Michael, let’s be fair… I’m sure they were in the top .001% of intelligence for restaurant assistant managers, phone clerks, bartenders and unemployed people.

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