Psychic Power in the Stock Market

Do some stock traders have psychic abilities? Here Is the City suggests that they might. reports that Jack Schwager says in his new book, The New Market Wizards, that “one of the traders I interviewed, an individual who had made several hundred million dollars in trading profits for his firm (talked of) intuition, dreams, Eastern philosophy (which) presented an image of him that would be viewed askance by his corporate clients.”

Um. Yikes! Let’s just say for a moment there is such a thing as psychic powers. Is it an ability we want stock traders running around with? With all the missing kids in the world. Hell: all the missing keys. This dude is gonna use psychic power to beat the market? Doesn’t seem right somehow. Especially is a world where I can’t do it.

I’m reminded of the day about a decade ago when I had planned on attending a widely advertised psychic fair. The day before the fair, we got an out of season snow fall that completely shut down the whole city and the fair had to be cancelled. They rescheduled for a later weekend. I didn’t go. My reasoning? If among the score or more psychics crawling around this fair couldn’t do their job well enough to forecast a snowfall, I wasn’t gonna waste my money.

Back to stocks: all things considered, I think I’ll stick with technical analysis. Half the time, it feels like I’m trying to use psychic power anyway. Maybe light some incense while I’m doing it. Can’t hurt, right?


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