Learn across domains. Nature or nurture? Are players destined for excellence or trainable with the right conditions and coaches?
Richard Dennis and William Eckhardt made a bet as to whether they could 'raise' futures traders. After a series of interviews, they selected 13 men and women to train. They named them "Turtle Traders" just as some Asian farmers raised turtles.
One of the traders, Curtis Faith, wrote a book, The Way of the Turtle, after the non-disclosure agreement expired. He shared some of the principles of turtle trading, stressing that emotion and discipline were the defining characteristics, although others existed.
The qualities of "Turtle Traders" belong to basketball as well.
Edge. Teams need an exploitable edge just as traders need a system to exploit 'market inefficiencies'. Great coaching without talent and player development is insufficient. The ability to "play harder for longer" and "know how to close out games" are essential for winning programs.
Risk management. Without 'risk management' loss is almost certain. For example, we know that a coin flip is a 50-50 proposition. If someone would pay us $1.50 for every heads and we'd pay $1.00 for every tails, we'd want to play day and night. If we only had $3.00 to start, we could still "bust" with three tails, even if the probability of that was only 1:8.
Taking over a job with low talent, a hard schedule, or severe competition for available athletes would imply a risk management problem. Even under better circumstances, coaches still need to develop depth in case of injury or other player unavailability.
Consistency. Program stewards like athletic directors and fans want consistent winning. Similarly, a trading program that is subject to wide fluctuations or "drawdowns" will try the soul of operators. Consistency applies to preparation, practice, and academics.
Simplicity. Complexity tends to make results less reproducible. A new coach explained to my old coach that he had a new offense that was guaranteed to work and that he knew every detail. My coach answered, "I guarantee that your players will not understand this." Keep it simple.
Stick with the concepts... edge, risk management, consistency, simplicity.
Lagniappe. Winning isn’t instant.
Coach K was 38-47 his first 3 years at Duke & 13-29 in the ACC
— Hoop Herald (@TheHoopHerald) January 31, 2025
Jay Wright was 52-46 his first 3 years at Villanova & 21-27 in the Big East
Great things take time. You need to be process driven, not results driven
A proper foundation is much more important than instant success pic.twitter.com/7eDSpgOqYG
Lagniappe 2. Excellent teams outhustle opponents.
Dominant teams embrace the hustle. #DailyWisdom pic.twitter.com/FeaBlc5zY4
— Ball is Psych (@BallisPsych) January 31, 2025
Lagniappe 3. Have a method to stop the madness.
Loved my conversation with Houston head coach Kelvin Sampson and so appreciative of his willingness to discuss the details of his system.
— Adam Finkelstein (@AdamFinkelstein) January 31, 2025
Full interview is available here: https://t.co/t7MQ4TEapm pic.twitter.com/M0rOjPWsAR
Lagniappe 4. Simple but not easy...
No one thinks they can perform surgery after being a patient. But everyone thinks they can coach after watching a game.
— JOHN BRUBAKER (@CoachBru) February 1, 2025