Anyone see the (Traders under 30" on CNBC

Quote from resinate:



If positive thinking were so key, many more would be profitable. If anything too much confidence in this business can be fatal.
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Good post !
 
Quote from newbunch:

This is *a* list, not *the* list. If somebody working out of his house made $100M trading, how would they know about it? I know that if/when I was making millions trading my own and some family money (all privately), I wouldn't tell anybody.
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Again, the editor said they had sources from all over. I highly doubt someone working out of their home or small office who was making big bucks would NOT be known.

I have a friend in Hinsdale, IL (lot of Chicago traders live there) who works from his friggin mansion (20,000 sq ft home) who makes about 7 Million per year trading bonds.

Everyone in Hinsdale knows him. Very hard to keep a secret between 2 people unless one of them is dead. :eek:

I agree about NOT wanting to be on that list. One of the benefits of having money is privacy.

I don't get paid any money for being famous (I'm not) as a trader investing my own money.

If I recall, last year a famous hedge fund manager in NY was kidnapped and held for ransom. I'll try and find a link.

When you have money and people know it they hang on like leeches. I'm a millionaire myself and I can tell you it sucks sometimes when family knows you have money. I have lent over $200,000 to family and friends over the last 10 years and NEVER was paid back one dime. My wife and I called quits to lending any money for any reason.

If my family needs money, I'll buy them food, help pay rent but no F'n money for anything. Too F'n bad.

My sister called me last Christmas and cried her ass off to me about her credit card debt ($32,000). Her credit card companies doubled her monthly payment, something like $1,200 month.


She couldn't get a Home Equity Loan because of bad credit. She wanted to so-call "BORROW" $32,000 from me. I asked her what type of payment plan she would give me? She replied, I don't know if I can EVER pay you back but YOU should count your Blessings that YOU have the ability to GIVE me that money without it effecting YOUR lifestyle. YOU were blessed, I wasn't.:confused:

I said "you want me to give you a Corvette without any repayment plan and maybe you will never pay me a dime?"

I asked her about the $1,200 I had LENT to her 4 years ago, she said she had NO idea what I was talking about. I told her I would consider LENDING her the $32,000 but I would need her to sign a note so I could place a LIEN on her home just like a bank would. She wen't F'n BALLISTIC.

I said, I need guarantees that I will be paid back. I also told her if I wasn't paid back within 5 years that the note would charge 8% interest.


She asked me how would that work if she Sells her home. I said very simple. First your Banker gets paid for the 1st mortgage, then ME, then the Title company charges, the Realtor, your attorney, then what's left is yours.


She told me to go "F" myself and that I was a GREEDY bastard.:D

I told her to get her Alcoholic husband off the F'n couch and get a part time job.

She said she would NEVER talk to me again.:D

One less debt to write off. :p
 
F-Trader
Im with you 100%

somebody falls down on your property, they sue you. If you're alex rodriguez and you kick somebody, then you get sued. Well, if you don't have any money and you kick somebody, it's no problem. And because you have money, you get held to a different standard. You become a target."
 
I know the first kid on the list. We started at the merc as runners about the same time. He is a good guy but I to am surprised to see him on the list. He is the blond headed kid playing basketball in the mag. I laughed my ass off when I saw him on there. Dont get me wrong, I wish him the best and hope he make a sh*tload of cash. I just hung out with him alot and I know his style. Im surprised thats all. I mean if it was the best drinking traders under 30 then maybe. hehe. The list didnt say they were the most profitable necessarily. just my two cents. Jim
 
"If I recall, last year a famous hedge fund manager in NY was kidnapped and held for ransom. I'll try and find a link."

That was Edward Lampert in Greenwich, Conn.
 
"I have a friend in Hinsdale, IL (lot of Chicago traders live there) who works from his friggin mansion (20,000 sq ft home) who makes about 7 Million per year trading bonds. Everyone in Hinsdale knows him. Very hard to keep a secret between 2 people unless one of them is dead. "

Well, if you live in a 20,000 sq foot mansion, people might suspect you are rich....
 
Quote from newbunch:

"I have a friend in Hinsdale, IL (lot of Chicago traders live there) who works from his friggin mansion (20,000 sq ft home) who makes about 7 Million per year trading bonds. Everyone in Hinsdale knows him. Very hard to keep a secret between 2 people unless one of them is dead. "

Well, if you live in a 20,000 sq foot mansion, people might suspect you are rich....
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Everyone in that neighborhood is mega rich. About a dozen are listed in the Forbes 400 list.

I used to live there in a 1.6 Million dollar house and people wouldn't hang with me because I was poor (rolleyes).

My point is that people do find out. Real estate people have big mouths, Lawyers, mortgage brokers, accountants, friends, family, etc...

People talk, incl professionals.

In that neigborhood everyone knows who's making what and who's banging who.

Nearly impossible to keep anything a secret today.

Mac
 
"This Trader magazine is obviously full of crap."

I receive the magazine for free. I would never pay for it. I enjoy some of the articles, but most are crap.
 
Quote from Hydroblunt:

Anyone see that 21 year old? So he is an execution trader? LOL that is hilarious, 90% of execution monkeys, specialists, MMs and floor traders cant trade/daytrade their own account to save their lives.

This Trader magazine is obviously full of crap. http://www.elitetrader.com/vb/showthread.php?s=&threadid=52609&perpage=6&pagenumber=8 pretty much explains it.
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I think some of you guys are missing the point of the 30 under 30. For those of you that have actually read the magazine, these are not suppose to be the 30 highest grossing traders under 30, but rather, these are a group of 30 people that show a lot of promise and who could one day be real superstars. That was the whole point to the "Under 30" thing. To catch these superstars when they are young.

Making a lot of money has nothing to do with being a superstar. I know guys that made 10 mil on the floor of the merc that are living out of their car now. Very very few guys that make a killing in their 20's ever keep that money. Most end up broke and desolate. The idea with this story was to find people who had a solid reputation, who weren't gun slingers, who looked like they have lasting potential.
 
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