“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)


"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput






Tuesday, December 13, 2011

The Difference between Meteorologists and Traders

... is quite simple - Meteorologists still make money even when they are terribly, horrifically, astonishingly wrong. Traders don't.  Advice - with all this insane volatility maybe we should become meteorologists!

Hurricane predictors admit they can’t predict hurricanes

Two top U.S. hurricane forecasters, revered like rock stars in Deep South hurricane country, are quitting the practice because it doesn’t work.
William Gray and Phil Klotzbach say a look back shows their past 20 years of forecasts had no value.

http://www.ottawacitizen.com/mobile/story.html?id=5847032

5 comments:

  1. Wow, at least someone with 20+ years of "predicting" finally uttered the truth. I do not believe the US Govt and all their Wall Street Allies will ever do this. Nope, it will be splatteroo for the common man (me). I am in no position to say when, but I believe it has to end or money printing to wash it away. Have to have some Bernanke "tail risk" assets for protection or no breathing will take place after the world hits the winshield

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  2. Gee, I was kinda thinking it would be sweet if a couple hundred politicians with 20 years experience would admit the same.

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  3. being a meteorologist in the south, i can mostly agree.

    while dr. Gray's '2-4 days out direction and intensity' computer models are statistically better n better and not too bad at all, whole season forecasting leaves alot to be desired. like the PSA test for prostate cancer, how much use is a 51% sure result?....not much.

    like trading, forecasting mostly random events like wind or moisture (or human reaction) in a complicated fluid environment is tough work.

    If technical chart analysis worked perfect we'd all be rich......which in a 'market' cannot happen.......alittle edge is all u can hope for.

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  4. boatman - well said! that is exactly correct.
    Thanks,
    Dan

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  5. my problem with their forecasts is they always had a wide range, like there will be 12-19 named hurricanes... you could predict that every year. worthless. now if they will finally abandon AGW ...

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