The Zurich Axioms by Max Gunther 1985

[nevieboy]

Hi all.
Just finished reading the above book ( mate sent it to me via email) took me over 4 hours to read it. A lot of interesting points. Any one else read it?

 

[nevieboy]

It's a book about betting to win, risk and its management.

 

[tech/a]

I have the book (Hard to find) but havent read it.

 

[nevieboy]

I have the book (Hard to find) but havent read it.

Hi tech. Have to get ready to go to work. Will be back on line about 1am. Will be posting then. Thanks mate.

 

[onemore]

First Major Axiom

"Worry is not a sickness but a sign of health.If you are not worried, you are not risking enough."

I dont know if i like that sort of health!

 

[nevieboy]

Hi all.
Just finished reading the above book ( mate sent it to me via email) took me over 4 hours to read it. A lot of interesting points. Any one else read it?

Hi guys just a few aspecs from the above book. Hope you find it interesting as i did. If you can be bothered reading it. Well here goes......
THE FIRST MAJOR AXIOM 'ON RISK'
Worry is not a sickness but a sign of health.If you are not worried you are not risking enough.
Minor axiom I
Always play for meaningful stakes.
Minor axiom II
Resist the allure of diversification.
THE SECOND MAJOR AXIOM 'ON GREED'
Always take your profit to soon.
Minor axiom III
Decide in advance what gain you want from a venture, and when you get it,GET OUT.(Decide where the finish line is before you start the race).
THE THIRD MAJOR AXIOM 'ON HOPE'
When the ship starts to sink,don't pray. JUMP.(Don't wait around when trouble shows itself.Get away promptly).
Minor axiom IV
Accept small losses cheerfully as a fact of life.Expect to experience several while awaiting a large gain.
THE FOURTH MAJOR AXIOM 'ON FORECAST'
Human behavior cannot be predicted. Distrust anyone who claims to know the future, however dimly. In the world of money, which is a world shaped by human behavior, nobody has the foggiest notion of what will happen in the future. Mark that word. NOBODY.
THE FIFTH MAJOR AXIOM 'ON PATTERNS'
Chaos is not dangerous until it begins to look orderly.
Minor axiom V
Beware the historian's trap. ''Look! Everything is in place! A new bull market is on the way''
Maybe it is. And maybe it isn't.
Minor axiom VI
Beware the chartist's illusion
Minor axiom VII
Beware the correletion and causality delusions.
Minor axiom VIII
Beware the gamblers fallacy. (say's the gambler this is my lucky day, i'm on a winning streak).
THE SIXTH MAJOR AXIOM 'ON MOBILITY'
Avoid putting down roots. They impede motion.
Minor axiom IX
Do not become trapped in a souring venture because of sentiments like loyalty and nostalgia.
Minor axiom X
Never hesitate to abandon a venture if something more attractive come into view. Don't let those roots grow too thick to cut.
THE SEVENTH MAJOR AXIOM 'ON INTUITION'
A hunch can be trusted if it can be explained.
Minor axiom XI
Never confuse a hunch with a hope.
THE EIGTH MAJOR AXIOM 'ON RELIGION AND THE OCCULT'
It's unlikely that God's plan for the universe includes making you rich.
Minor axiom XII
If astrolgy worked, all astrologers would be rich.
Minor axiom XIII
A superstition need not be exorcised. It can be enjoyed, provided it is kept in it's place.
THE NINTH MAJOR AXIOM 'ON OPTIMISM AND PESSIMISM'
Optimism means expecting the best, but confidence means knowing how to handle the worst. Never make a move if you are merely optimistic.
THE TENTH MAJOR AXIOM 'ON CONSENSUS'
Disregard the majority opinion as it is probably wrong.
Minor axiom XIV
Never follow speculative fads. Often the best time to buy something is when nobody else wants it.
THE ELEVENTH MAJOR AXIOM 'ON STUBBORNESS'
If it doesn't pay off the first time, forget it. (if at first you don't succeed, the hell with it).
Minor axiom XV
Never try to save a bad investment by ''averaging down''.
THE TWELFTH MAJOR AXION 'ON PLANNING'
Long range plans engender the dangerous belief that the future is under control. It is important never to take your own or other people's long range plans seriously.
Minor axiom XVI
Shun long term investments.
Planning for a future one cannot see. Do not get rooted in long range plans or long term investments. Instead react to events as they unfold in the present. Put your money into ventures as they present themselves and withdraw it from hazard as they loom up. Value the freedom of movement that will allow you to do this. Don't ever sign that freedom away.
The twelfth axiom says there is only one long range financial plan you need and that is the intention to get rich. The how is not knowable or plannable. All you need to know is that you will do it somehow.
Most people will never get rich on a wage.


Hope some of this inspires some of you as it has done me.