How many of the 'Market Wizards' blew up?

[Angrycat]

I remember reading the market wizards books a million years ago as part of a trading class I took in undergrad.

Almost all the market wizards blew up at one time on another. Usually it was because they over traded - took positions that were too large relative to their portfolio. That's what I took away and that's the mistake I have sought to avoid. If you talk to successful professional traders, I think they'd tell you that's the number one way to blow up and the one thing you should always avoid.

That people make mistakes is normal, but kudos to you guys who seek to learn from their mistakes.

 

[Humpy]

Quote from Cutten:

I'm not sceptical, I know for a fact that several "Wizards" blew up and one is a convicted fraudster who bilked investors out of millions.

If you're reading a book to learn market lessons, isn't it rather important to know whose approach continued working, and whose either stopped working or blew up in their face?

Well come on - which ones blew up and why ?

 

[Rodney King]

Yikes, there must be <i>someone</i> here who actually knows some of the traders under discussion... I can't believe the best the group can do cut/past webjunk onto the thread.

 

[Trend Following]

Quote from Rodney King:

Yikes, there must be <i>someone</i> here who actually knows some of the traders under discussion... I can't believe the best the group can do cut/past webjunk onto the thread.

I am not aware of Marcus, Kovner, Jones, Seykota, Hite or Rogers bowing out. Richard Dennis had major downs on several occasions. The others below I can't speak to:

o Gary Bielfeldt
o Michael Steinhardt
o William O'Neil
o David Ryan
o Marty Schwartz
o Mark Weinstein
o Bryan Gelber
o Tom Baldwin
o Tony Saliba
o Dr. Van K Tharp

That is from first book.

 

[Humpy]

Quote from marketsurfer:

excellent! i love reading stuff like the ritchie piece, very inspiring. thanks humpy...

You're welcome

I am sure there are important lessons to be learnt from the stories of experts, it's just so damn hard to piece togethor any facts. Ideally a "market wizard" will pop up and tell ???

Failing that then bits and pieces from the internet, which are probably more or less correct, will have to serve.

 

[Humpy]

ROBERT KRAUSZ

Robert Krausz (1936 – October 3, 2002) was a commodities and futures trader.

As a child born in Budapest, Hungary, Robert Krausz spent most of his childhood living in one of nine ghettos formed by the Nazis during World War II, established to confine Jews into tightly packed areas of the cities of Eastern Europe. He survived World War II by escaping from a group being led to a concentration camp. After the war, he ended up in a South African orphanage, where he was adopted by a local industrialist impressed with his intelligence.

In 1956 he joined the Israeli armed forces as a paratrooper. After the end of the war with Egypt Robert moved to London, England to pursue his passion for dress designing.

In 1988 he gave up his clothing business in London and moved to the U.S. to start a new career as a full time technically-oriented trader. He became a certified hypnotist and an advisor for the European Bank for Reconstruction and Development. Robert used Gann and fibonacci methods in his trading and coaching of new traders, encouraging them to use his fibonacci trader three timeframe method computer program.

Robert Krausz suffered a massive heart attack while addressing a group of traders in St. Augustine, Florida, and later died in a local hospital.



He certainly had a colourful life

 

[Rodney King]

Quote from Humpy:

ROBERT KRAUSZ Robert Krausz (1936 &#8211; October 3, 2002)

Maybe this could be moved to a different thread -- "Uncredited cut/paste workshop" or some such.

 

[Humpy]

Quote from Rodney King:

Maybe this could be moved to a different thread -- "Uncredited cut/paste workshop" or some such.

He was a Market wizard and as such has every right to be included. Seeing as he is dead I will stick up for him in lieu.

I doubt you are the real Rodney King

 

[smilingsynic]

Quote from Humpy:

Which one ?

Google "Michael Lauer" along with words such as "fraud" and "trial". You are bound to find something.

 

[TraDaToR]

Those Israeli paratrooper showers can change a man for sure... You don't go from escaping concentration camp to military to dress design for no reason...

Sorry...LOL