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It might help you to know the following. The book was written when he was young, might have been his first book, and therefore the edgy language and examples in the book, even though mostly valid and largely relevant, are written to try to tell the reader that traders are smarter, live in a...

What's his net worth not including books?

The last sentence is correct. To make money you have to correctly combine all premium collection with everything you know about the markets and about the underlying over the years, which will result in frequently selling only one side, or placing one side much farther away, or hedging one or...

First, it takes years if not decades to learn to trade properly because it comes from participating in the price action over years. Trading decisions are also about getting to know the world we live in, which takes additional years. Second, going to day job sucks for most people not just you...

OK. Will do. Thank you.

That's good to know. How about interest on the original equity if some of that was borrowed by the trader(s). And what if the prop business employs a programmer on the side who receives a salary that needs to be deducted. That might not be on the K1

An entity might be able to deduct relevant expenses. To the extent more than one trader/person has contributed to the IP behind the trading strategy, the LLC entity might be able to more equitably ascribe taxable income between members.

I understand the registration/Series 57 would have to be in the name of the trader as an individual. But for tax purposes, is it possible to ask the JBO to attribute P&L to an ENTITY, such as an LLC? Thanks to anyone who might answer this!