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People throw around the word RICH without really defining it. As you all know, one persons RICH would not be the same for somebody else. Not only that, there is also various ways to measure being RICH as well: 1) Money in the bank (being liquid, FU money) 2) Annual Income (money coming...

DEXO Given: too much debt, in a dying industry and led by an incompetent management team. Should I buy the whole company at these prices and install a new management team? Is it a steal at these levels?

Some of the debt is customer accounts. But, there is a massive blackhole in their books, akin to a leveraged to the hilt Chinese hedge fund. I would tread carefully.

Interactive brokers is leveraged 60 times. For each dollar it has, it has $59 in debt. IB is a house of cards waiting to collapse. This European sovereign debt issue could very well take them out.

Who is the greatest financial philosopher, financial mind of all time? and why?

SUCCESS Success is having $1 Billion AUM ASAP. Research >>> Execution >>> Great Performance >>> AUM

You can justify anything in the market with a limited set of data. Incomplete information. From my conclusion: both the rises and falls are just the same in severity over the long term. One or the other tend to predominate in the short term depending on the market whims.

For a full functioning productive society founded upon capitalistic ideals, Creative Destruction must be embraced. Not to be shunned.

Why would you want to hold onto the license if you don't expect to go back to prop trading?

Only a matter of time before America becomes a spanish speaking islamic republic.

The GREAT Truth You cannot make money trading. You cannot make money trading wanting to make money. You must be after something much grander. A pursuit that's much more nobler, elegant and far more magnificent. To succeed in trading, you must seek out perfection.

Life all comes down to a few moments. This is the biggest moment of all. Everything is falling apart, breaking down. I must regroup, refocus and I must persist. I must refocus in on the fundamentals and I must seize the moment !!!

Trading is an obsession, a fascination worthy of single-minded effort/pursuit..

If you have to use a stop, your edge just isn't good enough. Most likely it's just noise, random noise.

This is precisely what I have experienced in the hiring process. I learned that everyone would say anything to get hired and after you hire them and train them, it becomes even more costly to fire them. Any thoughts on finding the best and the most motivated?

Having an economic system that is focused on innovation & productivity rather than protecting jobs that don't have the economic right to exist through market manipulations.

No matter how intuitive the trader is, he can only make what he is willing to lose. To have the confidence to bet big when the odds are on his side takes intuition as well as supreme self-confidence.

Unfortunately, there are more levels to the game. And a lot of people know the steps involved. But, most don't have the passion and persistence required for the proper execution. Good luck.. .at least somebody is on the right track.

EXECUTION The odds are against me. 99% of new businesses do not survive the very first 5 years.

UNCERTAINTY creates opportunities. You must learn have to harvest the fears.