Relying on Dead Reckoning to Predict Security Market Conditions in 2013
“I had to rely on dead reckoning, which is a system of estimating where you’re going based on where you’ve just been. It’s primarily guesswork, especially if as the days go by you’re less and less certain where you’ve been. I studied and studied the chart, worked it all out over and over again, but kept arriving at different answers. By the seventh day I couldn’t think straight.”