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Many high limit name players should care a little more about money as hordes of them are dead broke and deep in debt. Some of the biggest names are actually playing other people's money. The percentage of broke players is far higher than most would guess if you don't count those with outside...

The right amount for Buffett may be "a lot". However, he recommends most people buy a low cost index fund. I think 90% of the money he leaves in trust will be in a vert low cost S & P index fund and 10 percent in short-term treasurey bonds.

Shrewd or unethical. I would say unethical. I view most hedgefunds as scams as they do not figure to have an after-big-fees earn greater than a reasonable benchmark snd those running these funds know, or should know, this. This is true on a total or risk adjusted basis. There are exceptions...

And he later successfully placed 40% of Berkshire Hathaway's worth on American Express during the "Salad Scandal." Nice the way you made people think by not initially revealing you were speaking about Buffett.

What Buffett did was not unreasonable given he was worth roughly 60 billion at the time. 1. He could sell stock or borrow against his stock at a low rate... and regulators are likely to see things "his way" in a close situation. 2. Re Fat Tails: Some (like total destruction of the country by...

The stock was American Express during their "Salad Scandal".

What fund was that?

This is the right and important idea but I have been told that on the NYSE that perhaps only 80 percent in done on exchange. 12 years ago maybe 90 percent was on exchange.

Why would you not name the poster?

Not the same. This one interviews wining traders, A noted market structure specialist, A failed ex-winner who did not adjust & titled

No. But there are situations that a skilled trader may find hard to quickly backtest and there are reasons he may trade it with small size as Lescor has done. Skilled traders like Dustin who adapt are becoming more rare but are there. Glitches.. like the begging SOES bandit situation .. that...

Absolutely. This said, some minus-sum games are beatable and some are not.

Backtesting can be part of winning trading. Backtesting has helped some winning traders. Systematically trading an inefficiencie can be part of trading and you know traders who trade this way successfully. Renaissance Technologies has made many billions backtesting and daytrading...

Unless you want to roll your own definition of what zero-sum means, there is no debate. Trading is not zero-sum for the traders. Simply Google the definition of zero-sum if you are in doubt. (Traders money constantly leaves the game in the form of slippage, traders fees, etc) A poker game...

Yes, yes, yes!!! I want scorpion venom, please.

Not true. From the notes on Bot Destroyer: "I'm told by people who know him that he backtests all kinds of stuff." _____ Sim-traders and backtesters who do not understand things well may fail because they don't get the same fills. However, that does not mean backtesting has no value...

Traders of the New Era Deals with trading in a high frequency world as well as addresses some of the rule changes affecting traders. I especially enjoyed chapters 6 and 12- equity traders Dennis Dick and Bot Destroyer. Getting good fills is a key topic that comes up over and over and over...

True. My list is a carefully chosen exception.

Be in relationships. Big winners normally attribute part of their success to having surrounded themselves with teachers, mentors, friends; even reading the ideas of smart people. Few lock themselves away alone for a few thousand hours doing anything. "When seeking to be the best, seek the...

Thanks. I forgot the _ Trying to edit the original now. https://www.elitetrader.com/et/members/truth_.501241/