New Market Wizards Book

did you guys read the original post? this new book has the following superstars!

- A trader who turned an initial account of $2,500 into $50 million.
- A trader who achieved an average annual return of 337% over a 13-year period.
- A trader who made tens of millions using a unique approach that employed neither fundamental nor technical analysis.
- A former advertising executive who used classical chart analysis to achieve a 58% average annual return over a 27-year trading span.
- A promising junior tennis player in the UK who abandoned his quest for a professional sporting career for trading and generated a nine-year track record with an average annual return just under 300%.

tell me again how these guys are comparable to the traders in the first two books? THESE GUYS ARE MUCH BETTER. ED THORP AND THOSE CC SCHMUCKS are cold product. ho's don't want 'em no more. i can't wait until these new guys open up for outside investors :)
 
ZBZB said:
How do you do it for your own account without being employed to do it?
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Accumulated savings that you actually trade?

Someone suggested that these people might be trading 50 accounts and then sharing the results from the 1 super profitable account......in my opinion, that would be nearly impossible to do....anyone who actively trades knows it is a lot of work to manage just 1 trading account, let alone 5, 10 or 50 accounts. Just not a rational accusation.
 
guowei58 said:
did you guys read the original post? this new book has the following superstars!

- A trader who turned an initial account of $2,500 into $50 million.
- A trader who achieved an average annual return of 337% over a 13-year period.
- A trader who made tens of millions using a unique approach that employed neither fundamental nor technical analysis.
- A former advertising executive who used classical chart analysis to achieve a 58% average annual return over a 27-year trading span.
- A promising junior tennis player in the UK who abandoned his quest for a professional sporting career for trading and generated a nine-year track record with an average annual return just under 300%.

tell me again how these guys are comparable to the traders in the first two books? THESE GUYS ARE MUCH BETTER. ED THORP AND THOSE CC SCHMUCKS are cold product. ho's don't want 'em no more. i can't wait until these new guys open up for outside investors :)
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I think they are able to replicate the results for a period of time. If they continue to quadruple their money every year, they would soon be the richest guy on earth.

Maybe their strategies have constraints like liquidity, limited instruments, and the likes.

I am not sure how sustainable their strategy is, but I am definitely looking forward to read them.
 
SteveM said:
Accumulated savings that you actually trade?

Someone suggested that these people might be trading 50 accounts and then sharing the results from the 1 super profitable account......in my opinion, that would be nearly impossible to do....anyone who actively trades knows it is a lot of work to manage just 1 trading account, let alone 5, 10 or 50 accounts. Just not a rational accusation.
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I agree, but people who never traded don't know all that.
So that accusation gives you an indication of the level the "trader" reached who posted that nonsense. He probably even did not reach the papertrading level, because then he would already see that trading 50 accounts simultaneously is not that easy.

To post on ET you just need an email address and being able to read and write very basic language. Logical thinking, mathematical skills or trading experience are not required.

Maybe Baron should change the name of his website. Elite traders is not representative for what is posted on ET anymore.
 
Market_Diver said:
I think they are able to replicate the results for a period of time. If they continue to quadruple their money every year, they would soon be the richest guy on earth.

Maybe their strategies have constraints like liquidity, limited instruments, and the likes.

I am not sure how sustainable their strategy is, but I am definitely looking forward to read them.
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Stop this nonsense of being the richest man on earth. It only shows you know nothing about trading.

Read this:

The problem is that as a fund grows larger it becomes much more difficult to find enough top quality investments. Medallion Fund has only been able to maintain its high success rate by not growing any larger than it has. If Jim Simons were much more wealthy and still had most of his wealth invested in Medallion, then the same strategy might not have continued to work as well.

Jim Simons was well aware of the issue of being too large. In the 1990s and 2000s the simplest solution to the problem was to limit outside investment. The Medallion Fund stopped taking new investments within a few years of its creation. It began buying out non-employee investors in the early 2000s.


According to your logic, Simons should be the richest man on earth. Well, he is NOT. Continuing in your logic: so Simons is fake as he is not the richest.
The same apllies to Buffett. He is hitting his ceiling too. And he is also not the richest man on earth.
 
virtusa said:
Stop this nonsense of being the richest man on earth. It only shows you know nothing about trading.

Read this:

The problem is that as a fund grows larger it becomes much more difficult to find enough top quality investments. Medallion Fund has only been able to maintain its high success rate by not growing any larger than it has. If Jim Simons were much more wealthy and still had most of his wealth invested in Medallion, then the same strategy might not have continued to work as well.

Jim Simons was well aware of the issue of being too large. In the 1990s and 2000s the simplest solution to the problem was to limit outside investment. The Medallion Fund stopped taking new investments within a few years of its creation. It began buying out non-employee investors in the early 2000s.


According to your logic, Simons should be the richest man on earth. Well, he is NOT. Continuing in your logic: so Simons is fake as he is not the richest.
The same apllies to Buffett. He is hitting his ceiling too. And he is also not the richest man on earth.
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So that proved my points. They are not going to be able to replicate the returns due to the constraints I have stated.

I think you seriously need to read what I wrote with your glasses and brain on.
 
Market_Diver said:
So that proved my points. They are not going to be able to replicate the returns due to the constraints I have stated.

I think you seriously need to read what I wrote with your glasses and brain on.
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Yes they are replicating it with LIMITED SIZE. So the returns are still there on the invested capital. Profits are each year taken out. The compounding stopped. So they can still make these high returns without ever getting the richest man on earth.

I think you seriously need to read what I wrote with your glasses and brain on.
 
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