% ppl who earn >$1 million cumulative from trading over a lifetime?

thanks for the input, everyone who replied.

i was thinking of the nyt article that came out a few weeks ago, which did interviews with some individual traders who lost a few k - 100k in crypto:
https://www.nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html

but then i guess for those who lost, there were also those who scored big gains, not just in crypto (eg. rumored group of MIT students who used their school computer network to mine crypto in the 2010-2011 era, made tens of millions by 2013), but also by shorting vix (eg. former target manager who made $12mm https://www.marketwatch.com/story/f...down-600000-bet-against-volatility-2018-02-07), trading momentum breakouts on the way up/down (eg. https://www.steadytrade.com/tim-grittani/)

as an aside, what do you think is the next millionaire-making opportunity set?
 
dozu888 said:
college is complete waste of money - say 4 year tuition/fees are $100k... just put in SPY at 10% annual, compounding 40 years comes to $4.5m... in QQQ at 12.75% it is over $10m..

that is the end result if you just sit there watching TV for 40 years.

and busting your ass 9-5 for 40 years only gets 1.2m? not to mention there is earning power just with a high school diploma, so the net gain from the college degree is even less.

so stupid to spend money on college.
More...
College is about education and higher learning. A total waste of cash and stupid? Forest Gump said it best, "Stupid is as stupid does." I have 3 post high school degrees. Worth every second and every penny, to me. thanks Forest.
 
dozu888 said:
it's straight forward. person A puts 100k in SPY for 40 years while sustain himself on job with high school diploma; person B spends the 100k on college... the math is simple.
More...
his reasoning is not valid, I took logic in COLLEGE. Arguing that college is stupid comes from ignorance and stupidity. Either he didn't go and doesn't know or he went and wasted his time. in either event, college is agreed by the majority to be beneficial.
 
TraderEX said:
his reasoning is not valid, I took logic in COLLEGE. Arguing that college is stupid comes from ignorance and stupidity. Either he didn't go and doesn't know or he went and wasted his time. in either event, college is agreed by the majority to be beneficial.
More...

agreed by majority is exactly the problem here... the education market is not that different from the stock market, the mass is on the wrong side, or the bottom of the pyramid, while the few are reaping the true benefits at the top.

you have 3 degrees, good.... I only have 2, with a PhD... but how much does that really benefit one's career... very debatable... I can even argue that my 9 years of post-secondary, if those were spent on my career, I could be in a more advanced place.

problem is I presented general math, yet people counter argue with individual data points.

data points are legit, but that's the most common logical fallacy on the internet... arguing data points against general stats.
 
dozu888 said:
agreed by majority is exactly the problem here... the education market is not that different from the stock market, the mass is on the wrong side, or the bottom of the pyramid, while the few are reaping the true benefits at the top.

you have 3 degrees, good.... I only have 2, with a PhD... but how much does that really benefit one's career... very debatable... I can even argue that my 9 years of post-secondary, if those were spent on my career, I could be in a more advanced place.

problem is I presented general math, yet people counter argue with individual data points.

data points are legit, but that's the most common logical fallacy on the internet... arguing data points against general stats.
More...
other than phd what is your other degree?
 
TraderEX said:
other than phd what is your other degree?
More...

got BA in linguistics then PhD in science then took a complete different career path.... sure one can argue education trains the brain... but the brain could have been better trained in the real world.
 
dozu888 said:
agreed by majority is exactly the problem here... the education market is not that different from the stock market, the mass is on the wrong side, or the bottom of the pyramid, while the few are reaping the true benefits at the top.

you have 3 degrees, good.... I only have 2, with a PhD... but how much does that really benefit one's career... very debatable... I can even argue that my 9 years of post-secondary, if those were spent on my career, I could be in a more advanced place.

problem is I presented general math, yet people counter argue with individual data points.

data points are legit, but that's the most common logical fallacy on the internet... arguing data points against general stats.
More...
oh Dr.
did you use the fact that the s and p has risen by 1/3 (1950-2880) since the night the world new hilliary was out? 1954 through 2016(62 years) for 2/3 and from 2016 through the present,(2 years) 1/3. Dr. would you now admit your analysis is based on the most recent forty years and not the initial 40 years and therefore flawed? If you still think your math is up to par i suggest you should have taken a course in math, logic and reasoning. A PHD in the humanities carries little weight here.
 
dozu888 said:
got BA in linguistics then PhD in science then took a complete different career path.... sure one can argue education trains the brain... but the brain could have been better trained in the real world.
More...
please explainhow you went from a bachelors to a phd without a masters. I have n associates, a bachelors, and a masters. that is the normal progression. How did you manage this?
 
TraderEX said:
oh Dr.
did you use the fact that the s and p has risen by 1/3 (1950-2880) since the night the world new hilliary was out? 1954 through 2016(62 years) for 2/3 and from 2016 through the present,(2 years) 1/3. Dr. would you now admit your analysis is based on the most recent forty years and not the initial 40 years and therefore flawed? If you still think your math is up to par i suggest you should have taken a course in math, logic and reasoning. A PHD in the humanities carries little weight here.
More...

check long term sp500 return from the beginning of time... it's 9.8%

plenty schools admit PhD students with a BA/BS degree.
 
You must log in or register to reply here.
Back
Top