DailySpeculations.com is Victor Niederhoffers blog. It started because he has long had an e-mail list named “the spec list.” He is the man who runs it but everyone from the spec list contributes to it. So what do they talk about? You might think that because it is called Daily Speculations and the owner of the site runs a hedge fund that it only deals with stocks and other tradeable securities but you would be wrong. DailySpeculations deals in stocks, bonds, futures, options, statistics, software, philosophy, literature, history, people. world events, etc. Basically Victor has a bunch of really intelligent people contribute whatever they feel like. The result for the most part a very insightful blog where you can learn something or at least get a different perspective on something almost every day.
So who is Victor Niederhoffer? If you have been trading for a long time you have heard of him. He was one of the most successful hedge fund managers for about 15 years ending in 1998 when he had a series of unfortunate events and a case of overleverage leading to his fund “blowing up” and the saying goes. He then came back and had a wonderful three year run but once again getting hit very hard back in August. A lot of people do not like listening to him because they don’t want to hear anything from someone who has blown up twice but there are a few reasons to read his writings. First if you have read his two books “Education Of A Speculator” and “Practical Speculation” you have learned a lot. You have learned to question and test everything if nothing else (and I would venture to say you have learned a lot more). Second is that you can look at the other fruits of his labor, namely that his shop has helped produce such trader legends as Monroe Trout, Toby Crabel, Roy Niederhoffer, and several other successful traders. So why has he blown up twice you might ask. I am not totally sure but I think it is probably the psychological aspect of trading that has gotten him and not his processes for finding trades. Basically a little overconfidence now and then when you are leveraged can wipe you out in a short time. Enough about Vic and back to the blog.
Here are some fairly recent insightful posts.
Vic on Practice
Capitalism In Schools
These are illustrative of the types of writings you will find over at DailySpeculations.com It is a treasure trove of insights into all sorts of things. Go and read it and then go and read more of it. There is a lot of content and lot of good content.
We came across this blog on BloggingZoom.com and liked it right off the bat. The author while not like an old school scalper that stands at the corner of all your favorite events selling tickets does sell and broker tickets to several different events.
First off before you go thinking “well I don’t like scalpers” let us ask you something. Do you buy clothing at the store? Do you buy groceries? Do you buy anything? If the answer is yes then ticket brokering shouldn’t bother you at all. They are just working within the confines of the law of supply and demand. If people want it bad enough and can’t get it somewhere else cheaper than they can buy it from me. That is what selling anything be it a car, jeans, watermelon, a DVD, etc. So if you are a capitalist ticket brokering is all right. Besides if you don’t like the prices the broker is offering the tickets at then find them cheaper. Oh you are saying that you can’t find them cheaper? Well at least someone has them for you.
Back to the blog. We here at Blograters loved the concept immediately because in our younger years a few of us made more than a couple of bucks at it. In high school and college a group of us went to anything and everything that came our way and we did it all for free (actually usually we went at a profit) and that “free” price usually included out ticket, our dates ticket, dinner, t-shirts or CD’s from the concert, and we usually still had a couple of bucks left over. A few times we had a lot of bucks left over.
At ticketstrategies.com they have several articles explaining everything from how to sell tickets to how to get discounts, advance purchases, and other perks that ticket insiders know. We being veterans of the whole ticket broker world have still managed to learn a lot. For instance did you know that many times you can buy tickets before they go on sale to the regular public? Well you don’t “need” a black American Express card (Although it can help) you just need to know where to look. How about if you just want group discounts on tickets. Yes, they exist and that link can show you how.
Basically this site shows you the ins and out of tickets. If you like concerts, sporting events, etc. and you don’t like spending a fortune this is a great site for you to check out and learn some of the tricks.
Happy Blogging and Scalping…..oh I mean Brokering,