Seeking the Mastermind
Posted by Mark on February 25, 2012 at 06:38 | Last modified: March 31, 2012 09:56Accountability is today’s Rule #1.
The concept of a Mastermind Group was discussed in Think and Grow Rich by Napoleon Hill (1937). Hill describes the Group as:
“The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.”
The group owns the agenda and everyone’s participation is essential. Together you brainstorm new possibilities, provide each other with feedback, and create a community of supportive colleagues able to move the group to new heights. Perhaps most importantly, together the group will set up accountability structures that keep you focused and on track.
Mastermind Trading Group
For some time now, I have been interested in working with a Mastermind Group to test and develop trading systems. Bullet points from my resume could include:
- Solid theoretical trading/investing background
- Plentiful insight into the common pitfalls of backtesting
- 4+ years of live option trading experience
- 10+ years of intensive equity analysis
- Full-time availability
I strongly believe that assembly of a few select individuals, each with his/her own set of assets to contribute, could be very effective at developing and objectively testing trading strategies. Members would be able to critically analyze ideas, seek to replicate each other’s work for confirmation, and hold each other to task in an effort to keep the group moving forward.
It’s not necessarily the trading but rather maintaining perspective of the Big Picture that makes this endeavor so challenging.