History & Library

 

The market approach, acumen and technical details presented on this site aren't much different than your senior or graduate level science courses in college. For you to get maximum benefit, you've got to know the material.

 

A good example of this was an experience I had years ago.  I was an upper classmen engineering student at Texas A&M.  I had made it through years of study and could just about see my way to graduation.  That was until my Automatic Control Systems class.

 

It became clear at that point, I really didn't know much at all.  There was still a long way to go.   My visions of great accomplishment were dashed.  All I had really managed to do was survive the typical weed-out of the lesser students.

 

The reality that I could still be a casualty and flunk out of A&M, hit hard with just one quiz score.

 

My very first score in Automatic Control Theory (Dr. Bhattacharyya) was a “20”.  

 

I remember that day ... sitting in class staring at that number:  "20".  What a shock.  For minutes I could not process the meaning.  I saw myself calling home to say I was flunking out.  What then?  Was I going to frame houses or work at a truck wash for the rest of my life? 

 

How does one recover from a score of "20"?

 

I shuffled out of class stunned.  Automatic Control Theory was required for graduation.  No substitutes.  At that point, I resolved to do whatever was necessary and step up to the plate.  I isolated myself from the rest of my peers (as Wyckoff did a century ago).  Days, weeks, months spent in the library.  Absolute focus. It was a personal failure as I told no-one about the '20'.  

 

At the end of the semester, my final grade in that class was an “A”.

 

That's also the semester I made the Dean's Honor Award for Engineering.

 

All engineering courses for the semester were at 4.0

 

Getting scholastic awards at A&M was no easy matter.  Full time student is classified as 12-credit hours or more.  To be eligible for scholastic recognition (at least with engineering), you needed to carry at least 15-credit hours.

 

For those reading this who are top performers, business owners, leaders, the above story may sound familiar. You may have one (or several) of your own. 

 

So it is with the markets.  A grade is posted every day and there can be no argument.  Just as with my professor above, he did not go over the basics and he did not slow down because I was struggling.  Getting up to speed (and fast) was my responsibility.

 

As the result of a persistent search and never ending determination to find the 'truth' of price movement, I have amassed a significant library; Both in hard copy and electronic. Stored away on hard drive is every available publication I've found of Wyckoff's "The Magazine of Wall Street".  My former mentor David Weis, sent me a PDF copy of Wyckoff's 1931 manuscript ... 'Method of Trading in Stocks' 

 

After thirty years of study, my library is replete and includes autographed copies from David Weis and Dr. Alexander Elder.  The list below is a small but important selection from that library: