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Posts Tagged ‘greatness’

The Difference: Mediocrity vs. Greatness

Tuesday, March 2nd, 2010

In Trading, the STATISTICS show that smarts, experience, etc. are not the differentiating factor.
The BEST (most successful guys I know and work with) have winning %’s of less than 50%.. actually, the average is between 45-55% but the point is, basically, winning percentages don’t matter – so they might as well be a random event.

So, what does make a difference?

  • CONVICTION in ideas
  • INTERNAL CONFIDENCE
  • TRUSTING YOURSELF
  • GETTING BIG IN TRADES you believe in
  • LETTING WINNERS RUN
  • CUTTING LOSERS QUICKLY
  • SWITCHING DIRECTIONS QUICKLY

These are many of the factors that allow some people to become monster traders over time. It’s not my opinion, just my observations.

Trade Well,
Dr Doug

Winning Gold When You Take Home the Bronze

Sunday, February 28th, 2010

You know what Greatness is?

It was watching Canada’s Joannie Rochette, win the Bronze medal in women’s skating in the 2010 Winter Olympics. Actually, it wasn’t just that she won the Bronze, it was that she did this less than a week after her mother’s sudden death.

Joannie was an only child. Her mom was her biggest fan and her closest friend. She could have crumbled. She should have fallen apart. Most people would have. Even elite athletes lose focus and self-destruct from time to time like Dan Jansen did in the 1988 Olympics in Calgary when he was heavily favored to win Gold and tripped during the 500m speed skating race; earlier that day his sister Jane Beres died from leukemia. No one blamed Dan for his failure to deliver his best when it mattered most. How could he have? The Olympics are just a game and his sister’s death was the tragic loss of someone he dearly loved. In a recent interview, Dan acknowledged that it was not until years later that he realized how much his sister’s death had impacted his ability to focus that day. A focus he regained eight years later when he won the Gold medal in the 1000M men’s speed skating at the 1994 Olympics in Lillehammer, Norway.

For Joannie, no one would have blamed her if she was unable to deliver her best over the past few days in Vancouver. She could have under-performed and been completely justified in doing so. But she didn’t. She focused. And she did it under extreme personal stress while competing against a group of skaters that could arguably be considered the greatest talents women’s ice skating has ever seen in Olympic competition at one time. Japan’s Mao Asada, who was the Silver medal winner and the first women in Olympic competition to do a triple axel in her routine. Except Mao didn’t just do one; she did two of them. And, of course Korea’s
“ice queen,” Kim Yu-Na took the gold while setting a new world record score of 150.06.

What does it take to be a champion?
Effort? Yes.
Talent? Of course
Desire? Yes
Passion? Yes
But most of all, as Joannie showed us, it takes mental toughness.
Congratulations Joannie for showing us what winning Gold looks like even when you take home the Bronze.

Dr Doug

10% Talent + 90% Persistence = 100% Greatness

Monday, July 6th, 2009

“Success is not final, failure is not fatal; it is the courage to continue that counts.”

– Sir Winston Churchill

 

The formula for achieving greatness is 10% talent and 90% persistence – not the other way around. Of course we can all think of examples of top performers who have natural gifts and achieve success but without persistence do they ever really achieve personal greatness? I would argue they do NOT because true greatness is something that is measured as an absolute value rather than a relative one.

 

The following are some examples of individuals who achieved greatness as the result of their persistence, more so than their talent.

 

  • Henry Ford went bankrupt twice in his first few years in the automobile industry.

 

  • In 1902, a magazine called the Atlantic Monthly rejected the poetry submissions of a 28-year old aspiring poet stating, “Our magazine has no room for your vigorous verse.” The name of that 28-year old aspiring poet was Robert Frost.

 

  • Michael Jordan was cut from his high school basketball team.

 

  • 23 publishers rejected Dr. Seuss’ first children’s book. The twenty-fourth publisher took a chance and sold over 6 million copies of his book.

 

  • J. K. Rowling’s Harry Potter and the Sorcerer’s Stone manuscript was rejected by 15 publishers before it was eventually picked up and became a multi-billion dollar phenomenon.

 

  • In 1905, the University of Bern rejected a Ph.D. candidate’s dissertation describing it as “irrelevant and fanciful.” The candidate’s name was Albert Einstein.

 

  • A young quarterback named Johnny had a passion for football and played at a small school because he was considered too little to play at Notre Dame. After graduation, he played with the Steelers for a short stint and was cut. Forced to work construction to pay the bills, he waited for another chance to play football. The Baltimore Colts took a chance on him and Johnny Unitas not only led them to a championship but also was eventually inducted into the football hall of fame.

 

  • A young college economics student submitted a paper on a new way to send and receive packages. His professor gave him a “C” on the paper stating, “The concept is interesting but in order to earn better than a ‘C,’ the idea must be feasible.” That student’s name was Fred Smith and he founded a company called Federal Express.

 

I would expect that each of us has heard of these people and may be surprised and hopefully now inspired to learn of the failures they overcame in their path to achieving greatness.  If anything, maybe this week’s article will justify a moment of reflection as you ask yourself, “How persistent am I?”

 

Dr Doug