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Chapter Five
Grant D. Noble:
Chicago Is Not New York. Get It? |
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Grant Noble and I have known each other since we appeared on a television show here in Chicago. He is the author of the book The Trader's Edge. |
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Neal: How would you compare Chicago-style trading with other cities? |
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Grant: Chicago is definitely friendlier than most other money centers. For example, I recently sent out a report claiming that technicians are media stars now and are getting paid more than their fundamentalist counterparts. One guy from New York called me and said this wasn't true because high-tech analysts get paid more than technicians on Wall Street. I asked him whether the average steel, auto, retail, etc., analyst you see on TV was getting paid more than the ''TV star" technician. My point is that the average fundamental analyst you see on TV is getting paid less than the average technician you see on TV. But many people are so interested in putting you down that they will look for the faintest error on your part, no matter how stupid it makes them look. The rest of the world seems to have also given up trying to figure out how to trade the markets. They either concentrate on what they can foist on the public (the latest investment fad), or they concentrate on getting insider information ("whisper numbers" on corporate earnings, what the Fed is |
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