Trading in coffee shop?

[jk90029]

Dear-

Recently I saw a person (roughly 60's with full grey hair) who consistently sit in the same table in a coffee shop.

I talked with him and heard he spend most of the trading hours there.
A cup of coffee costs $4 and $1 extra refill with same cup in the afternoon.

1) Has anyone seen the cases like that?
2) Is there similar coffee shop in Wall Street or Manhattan?
3) Is the internet safe, in WiFi connection thru the wireless AP in the coffee shop?
4) Most coffee shop allow this case?
5) tell me if there is further issue.

Roughly for 20 trading days per month, he has small office paying $100/M.
Of course, free talking with other person is a BIG advantage for the 60's.

Possibly each area or city has SOME COFFEE SHOP with lots of similar people.
If a gentleman shows there for 10 or 30 years, then he must be a winning trader for long time.
Is there any list (like in ET) for the coffee shop name, by city?
If there is, I can visit the coffee shop in Wall St. when I have a chance to fly to NY.

PS) If there is lot of demand like that, someone may open his new coffee shop, specialized in serious traders. (like $100 per month upfront with FREE coffee)

 

[rmorse]

I can sit in a Starbucks, pay for a tall coffee and get free refills all day as long as I don't leave with my Starbucks gold card. Free WiFI, power plugs for my laptop. The bandwidth is not as good as my home or work internet service and it's not as reliable. It can drop from time to time. Not real good for trading, but OK while traveling.

 

[lawrence-lugar]

...Did you ask him what his performance/returns are? % returns, and other trading details

 

[jk90029]

I can sit in a Starbucks, pay for a tall coffee and get free refills all day as long as I don't leave with my Starbucks gold card. Free WiFI, power plugs for my laptop. The bandwidth is not as good as my home or work internet service and it's not as reliable. It can drop from time to time. Not real good for trading, but OK while traveling.

I have lots chance to travel. Please let me know if there is particular coffee shop in NY, LA, Chicage, etc.

 

[jk90029]

...Did you ask him what his performance/returns are? % returns, and other trading details

Yes, he buy equity only when prices goes up. On the other hand I buy only if the price go down.

Next time I am going to ask him his long-term PnL, during the last 17 years (He said he started 1998)
My guess is he spent millions of tax dollars for the 17 years, as a serious patriot.
Based on DJIA, he started 8000 in 1998 and now 16000 for 17 years.
Therefore index itself has roughly 4.1% annually compounded, by (16000/8000)^(1/17) = 1.041616.

 

[lawrence-lugar]

Yes, he buy equity only when prices goes up. On the other hand I buy only if the price go down.

Next time I am going to ask him his PnL, during the last 17 years (He said he started 1998)
Based on DJIA, he started 8000 in 1998 and now 16000 for 17 years.
Therefore index itself has roughly 4.1% annually compounded, by (16000/8000)^(1/17) = 1.041616.

...He needs to stay or hangout in a coffee shop all day just for basically buying-and-holding/investing returns?
He's not very efficient, or likes to waste his time hanging out there all day.

 

[victorycountry]

Dear-

Recently I saw a person (roughly 60's with full grey hair) who consistently sit in the same table in a coffee shop.

I talked with him and heard he spend most of the trading hours there.
A cup of coffee costs $4 and $1 extra refill with same cup in the afternoon.

1) Has anyone seen the cases like that?
2) Is there similar coffee shop in Wall Street or Manhattan?
3) Is the internet safe, in WiFi connection thru the wireless AP in the coffee shop?
4) Most coffee shop allow this case?
5) tell me if there is further issue.

Roughly for 20 trading days per month, he has small office paying $100/M.
Of course, free talking with other person is a BIG advantage for the 60's.

Possibly each area or city has SOME COFFEE SHOP with lots of similar people.
If a gentleman shows there for 10 or 30 years, then he must be a winning trader for long time.
Is there any list (like in ET) for the coffee shop name, by city?
If there is, I can visit the coffee shop in Wall St. when I have a chance to fly to NY.

PS) If there is lot of demand like that, someone may open his new coffee shop, specialized in serious traders. (like $100 per month upfront with FREE coffee)

Why go to a cafe to find outsanding traders when ET is the better place to find those people...

 

[jk90029]

...He needs to stay or hangout in a coffee shop all day just for basically buying-and-holding/investing returns?
He's not very efficient, or likes to waste his time hanging out there all day.

I did not chance to talk about his specific trading logic yet.
But I will try next time.

My first question will be "Did you keep using THE SAME LOGIC for 17 years?".

 

[jk90029]

Why go to cafe to find outsanding traders when ET is the better place to find those people...

That was my FIRST visit in THE COFFEE SHOP, which is open just few weeks ago.

 

[lawrence-lugar]

That was my FIRST visit in THE COFFEE SHOP, which is open just few weeks ago.

make a phone video of him talking about his trading -- and post it on youtube.