What kind of approach can make you INSANELY rich?

In his best seller "The Big Short", Michael Lewis recounts the story of "Cornwall Capital Management" which turned $110k into $120-130M in the span of credit crisis IE when their opportunity came they were ready.



https://en.wikipedia.org/wiki/Cornwall_Capital

ps at the time Cornwall was based out of Berkeley, which is also the home of Michael Lewis. 3 partners were James Mai, Charlie Ledley and Ben Hockett.
 
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trade5656 said:
If you are day trader you can make decent income, you can actually earn quite a lot but the fact is there is practically 0% chance that you will end up in top 100 forbes list if you are just doing day trading

What kind of investing/trading do you have to do to become SUPER rich, like earn BILLIONS$?
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Instead of wasting...time, thinking about how to make a billion dollars...you should spend your time trying to make your first $1,000 trading ;)o_O (or even your first $100, for that matter)

But to answer your question...start a hedge fund involved in insider trading like Steve Cohen/SAC Capital...that charges a 3% management fee, and a 50% performance fee of profits. This will compound fast.

PBS Frontline, To Catch A Trader
This is how you turn $25 million dollars into an 8 Billion personal fortune.
 
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lawrence-lugar said:
Instead of wasting...time, thinking about how to make a billion dollars...you should spend your time trying to make your first $1,000 trading ;)o_O
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Easy money, "fast and HUGE"... that's the sugar dream of traders when they first start out. :)
 
Contrary to popular fantasy it really does require $ for most of us to make any significant returns. Approx 3.5% of day traders are able to make a living and of these approx 1.6% make a large income from several hundred thousand to over 7 digits. If your female day trader your odds are higher of making it to the 3.5% group.

How do you get rich - what worked for me as it does for most people, for making any sort of significant returns was from investing a large amount of money into an emerging technology such as the Internet related companies in the mid 90's or the wireless companies in the late 90's and hold for a least a few years. The returns on these investments created outrageous returns even if you only got a piece of these trends you likely saw well over 400% returns on avg inside of 2 years. These types of opportunities are always emerging -there will always be plenty of entry points for those that have adequate risk capital and the guts to make these investments in the years & decades ahead. As a trader I will use up to two-thirds of my capital for this type of strategy and the other third for swing trading.

Cramer explains that the party is never over.

 
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trade5656 said:
ppppffffff what nonsense

i just found a system that makes 1020% a month and is being sold for 9.99$ right now

will get in forbes soon stay poor noobs
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So invest 10 bux in it, and let us know your results in a month with live money. Kthanxbye.
 
Buying distressed debt.

trade5656 said:
If you are day trader you can make decent income, you can actually earn quite a lot but the fact is there is practically 0% chance that you will end up in top 100 forbes list if you are just doing day trading

What kind of investing/trading do you have to do to become SUPER rich, like earn BILLIONS$? What should be your approach in theory?
More...
 
comagnum said:
Contrary to popular fantasy it really does require $ for most of us to make any significant returns. Approx 3.5% of day traders are able to make a living and of these approx 1.6% make a large income from several hundred thousand to over 7 digits. If your female day trader your odds are higher of making it to the 3.5% group.

How do you get rich - what worked for me as it does for most people, for making any sort of significant returns was from investing a large amount of money into an emerging technology such as the Internet related companies in the mid 90's or the wireless companies in the late 90's and hold for a least a few years. The returns on these investments created outrageous returns even if you only got a piece of these trends you likely saw well over 400% returns on avg inside of 2 years. These types of opportunities are always emerging -there will always be plenty of entry points for those that have adequate risk capital and the guts to make these investments in the years & decades ahead. As a trader I will use up to two-thirds of my capital for this type of strategy and the other third for swing trading.

Cramer explains that the party is never over.

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As Andy Kessler said it in "Running Money," trade the convexity of the convexity: he had some historical example of investing in the company that made the steam engine that allowed them to bore through mountains during the industrial revolution. In his case, he made like hundreds of millions investing in a company (only 1 of 2) that made the springs for the laser in all the CD-R drives just as Napster started taking off.
 
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