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"What people want v. what they need."
"Be expensive."
"You are not for everyone."
"Signal exclusivity and you will signal quality."
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Of all the trader interviews in Market Wizards, the most memorable is Ed Seykota.
Ed said: "Everybody gets what they want out of the market." This was a response to a question about trading, but it also applies to life.
I first met Ed at a small beachside café. He asked me what I thought Richard Dennis was looking for when he hired his student traders, the Turtles. I said Dennis was looking for students who could think in terms of odds. Ed asked me if my reply was my own thinking or something I was told by someone else.
My indoctrination to Ed Seykota. I'm fortunate.
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