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OLM Tu 09/13/11

Posted By: Daniel Murphy
Date: Wednesday, 14 September 2011, at 9:09 p.m.

In Response To: OLM Tu 09/13/11 (Higonefive)

Even if a position is a crystal clear take, it can be a double. I think, this is a flaw of Woolseys law.

Woolsey and his rule say nothing about whether clear takes are doubles. Why do you think that is a flaw in the rule? It's not intended to apply to positions that you (or Chuck) know are takes. And Chuck didn't apply it to his decision. He only observed, in so many words, that if he were to ask himself "are you sure this is a take?" his answer would be "yes." He went on to weigh, in his judgment, 7 bad rolls vs. a "handful" of market losers, and decided against doubling.

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