They worked their a$$es off and were lucky besides not stepping on any landmines along the way.
No Daytraders on this list - AGAIN.
- Thread starter LMeyers
- Start date
They worked their a$$es off and were lucky besides not stepping on any landmines along the way.
The exception that proves the rule?
i think he woud disagree with you, hes as much a daytrader as any prop trader on an i-bank desk, or at event driven hf.
hey, no argument here.. more power to 'em. i'm all for hard work.. but we can't say they weren't active intraday traders back in the 60's and early 70's before they blew up. Marc Rich was an adept trader when he was working for his wife's father well before he ventured out on this own. Soros as well.
FredBloggs
Guest
shows your level of understanding doesnt it. have you ever tried day trading with a billion dollar account?
liquidity requires time and money to be absorbed. sometimes, for serious money, that time may be longer than a day.
there are many other issues to consider as well, but i am not your fountain of knowledge.
the truth is that real successful traders arent about to advertise their wealth.
successful trading takes a certain type of person.
just like being a successful porn star requires a certain type of lady.
that person is usually quite humble and is more interested in the markets than money or fame per se.
in business (like running a fund etc) you WANT to be on lists like this to shout your story and attract investment.
others want to avoid publicity at all costs.
hope you have learned something.
liquidity requires time and money to be absorbed. sometimes, for serious money, that time may be longer than a day.
there are many other issues to consider as well, but i am not your fountain of knowledge.
the truth is that real successful traders arent about to advertise their wealth.
successful trading takes a certain type of person.
just like being a successful porn star requires a certain type of lady.
that person is usually quite humble and is more interested in the markets than money or fame per se.
in business (like running a fund etc) you WANT to be on lists like this to shout your story and attract investment.
others want to avoid publicity at all costs.
hope you have learned something.
Oddly enough, I didn't see an LMeyers on the list either.Quote from LMeyers:
Forbes published its Billionaires' List. There are quite a few additions (especially from India and China) but still no Daytraders on the list.
http://biz.yahoo.com/special/bill06_article1.html
http://www.forbes.com/billionaires/
If daytraders are only worth millions and not billions does that make them crap??? Billionaire lists are for business owners, not traders.
Inheritance is the most important determinant of wealth. Accumulating wealth takes many decades and many generations. Even if you look at the 'self made' guys on the list - Gates, Dell, Google guys - they'd didn't pay for their Ivy League education (even if they droped out) and the connections that come with that education out of their own pockets. I doubt Gates, Dell, and Google guys would have made it if their parents were middle class and they grew up and went to college in a place like Newark - NJ. There are few rags to riches stories out there, but they are interesting - like the single mom on welfare that authored the Harry Potter books.