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Demise Of Soros' Influence
- Thread starter ShoeshineBoy
- Start date
Quote from lescor:
"KNOWING" you are right can be dangerous in trading. The guys at LTCM knew they were right (they were, all their spreads eventually came back). But their confidence (arrogance) led to position sizes that meant if the market didn't wise up and agree with them soon enough, they were out of business.
The market doesn't always recongnize or care about fundamentals.
I agree. But they were using way too much margin. They had no room for error. When I want leverage, I buy options. At least my maximum risk is assured. I never play big with unlimited loss potential.
Quote from FishSauce:
Being a billionaire means jacksh*t.
The two brothers who setup Alticor/Amway/Quixtar are the biggest scam artists (despite a "legal" business model) and yet they're among the richest in the world.
I am not saying that Soros is a scam artist. In fact, I find him annoying but at the same time pious and righteous. <b>But just because you're a billionaire does not necessitate a sense of "king"ship</b>
As far as Krieger goes, from what I gathered he setup a tiny shop to trade for "fun." Aka Semi-retired.
OK, let me get this straight...and please correct me if I am wrong. You have put Soros and Ponzi schemes in the same paragraph, then you call him pious, annoying and righteous. WOW! Thats pretty harsh considering the man gives over 1 billion a year to charity from his OWN POCKETS...not his fund or foundation (which is a whole other story)..but his very own personal bank account.
Not to mention the fact that he is one of the most successful speculators of ANY time. I am flabbergasted. What have you done to earn the right of such statements? Please indulge me and forgive my ignorance if you have exceeded his accomplishments.
Then I want to be a pompous, pious, no-good jackass like Soros. Let us not forget that we are traders here. We build nothing. We add nothing to society (excpet liquidity???). We are not philanthropists. We are here to chase the almighty dollar in various ways that suit our individual psyches.
In this business, being a billionaire means EVERYTHING and DOES make you king!!!
That is all.
BigMike
In this business, being a billionaire means EVERYTHING and DOES make you king!!!
That is all.
BigMike
It was to comment on the following quote:
"He's a Billionaire..aka a King...end of story."
I wanted to point out the naive assumption from the aforementioned quote. The point being made is HOW you arrive at your fortune, i..e the end does not justify the means.
I, and this is strictly my opinion, see Soros' "genius" in hiring the right people and not necessarily his trading skills. Thus I see the media's perception and the commonality among other observers about Soros as a bit offline.
It then doesnt surprised me that people who broke off from Soros, Templeton, Robertson, etc. ACTUALLY DO BETTER than the "sponsors." The same observation was made by Instituitional Investor (sept. issue).
And let me reiterate: its not a knock on Soros' character. I am just calling into light his trading ability.
"He's a Billionaire..aka a King...end of story."
I wanted to point out the naive assumption from the aforementioned quote. The point being made is HOW you arrive at your fortune, i..e the end does not justify the means.
I, and this is strictly my opinion, see Soros' "genius" in hiring the right people and not necessarily his trading skills. Thus I see the media's perception and the commonality among other observers about Soros as a bit offline.
It then doesnt surprised me that people who broke off from Soros, Templeton, Robertson, etc. ACTUALLY DO BETTER than the "sponsors." The same observation was made by Instituitional Investor (sept. issue).
And let me reiterate: its not a knock on Soros' character. I am just calling into light his trading ability.
Quote from FishSauce:
It was to comment on the following quote:
"He's a Billionaire..aka a King...end of story."
I wanted to point out the naive assumption from the aforementioned quote. The point being made is HOW you arrive at your fortune, i..e the end does not justify the means.
I, and this is strictly my opinion, see Soros' "genius" in hiring the right people and not necessarily his trading skills. Thus I see the media's perception and the commonality among other observers about Soros as a bit offline.
It then doesnt surprised me that people who broke off from Soros, Templeton, Robertson, etc. ACTUALLY DO BETTER than the "sponsors." The same observation was made by Instituitional Investor (sept. issue).
And let me reiterate: its not a knock on Soros' character. I am just calling into light his trading ability.
Many of the greatest men have only been great because they knew how to hire great people and then use their decisions in a framework to reach conclusions and success.
Look at Citigroup. Sandy weil is brilliant. But he also hired the best. Look at what jamie dimon did now at bank one for instance. He hired the right people. Or bush, his team is top notch besides his economic team. Or GE. I can go on and on.