Steven Cohen and his team did not care about consistency, they cared about getting rich quickly and staying rich with guarantees. So do I!
Let me predicate what I'm about to write by admitting that I don't have the slightest idea what in the world I'm talking about.
That said, given that according to the Web, Cohen's success with SAC was predicated on high-risk, high-reward trades where his portfolio rode the late-'90s dot-com bubble to 70% returns and earned another 70% when he shorted those same stocks when the tech-bubble burst in 2000, it strikes me that guys like Steven, Mark Cuban and Kevin O'Leary made their initial fortunes in large part due to having been in the right place at the right time.
I had that same opportunity (to get "lucky" in a way) in the summer of 2010 when I first learned about bitcoin. At $0.06, I though it was a joke, on a par with penny stocks, and I dismissed it as worthless garbage—not worth my time or interest. Back then, I could have
easily bought a hundred bucks worth of the thing just as a lark (about 1,667 bitcoin)! If I had, just think... (Assuming I held onto it until it peaked, which I probably
wouldn't have done.)
But personally, I'm in no rush. I too have been saying the
same things from 2017 until the beginning of this year. But the thing is, I couldn't be more pleased with the results. That consistency has yielded a now
optimized system of trading that I trust is poised to begin growing my small trading account exponentially in due time (I just began renting a downtown office to facilitate my trading full time).
In short, whether this is true or I'm just fooling myself, I have the distinct impression that I kind of know what I'm doing now...light-years beyond where I was back in 2010...and if I HAD been fortunate enough to buy bitcoin back then, I NEVER would have been motivated to gain the insights I've acquired SINCE then that make me competent at what I'm doing today, IF indeed that's what I am.
