Why aren't there more Billionaire traders?

Two questions.

First question: How many billionaire poker players are there?

Second question: Millions are not enough for you, only billions will do?
 
Quote from marketsurfer:

there may be billionaires who actively trade. however, there are no billionaire traders who became billionaires via purely trading without massive OPM and fund fees.

Take a look at the Forbes 400 if you doubt it.



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Good point, very few if any pure traders that started with their own money in that group. It seems the hedge fund model for trading opm with fat fees takes the cake by far.
 
They are very few billionare traders because -

a) trading and making money overtime (and keeping it) is actually very very very very hard to do.

b) very few people actually want to make a billion so they retire well in advance.

Do you want to make a billion for example? And if so why do you need so much money? To impress people, to buy 10 houses, 2 planes and a load more hassle, to have no real friends, for everyone that comes knocking at your door to want something?

The only good reason to make a billion via trading is to give it away to people less fortunate.
 
Quote from Thunderdog:

Two questions.

First question: How many billionaire poker players are there?

Second question: Millions are not enough for you, only billions will do?
More...

On the TV poker shows they always tell us how much they've "cashed for" in WSOP tourneys and the like... but never how much they still HAVE.

In an earlier life (and for about 10 years), I scuffled among pool hustlers, poker players and bowl-for-money types... regarless of how much they'd "cashed for", most were basically broke... having at some time lost most/all of what they'd "made"....

It's a fun life when you're young and single... but not usually beyond that.

"The game never ends when your whole life depends on the turn of a friendly card".... Alan Parsons Project
 
Well after a few weeks of trading larger lots than before liquidity really is a serious problem when trading 6 figure amounts or more. In this case the only way to go becomes trading the spiders really. I was trading First Solar, a $10 billion company, but even it only trades about 1000 shares a minute. Waiting a minute for a fill can really effect your results.
 
Quote from AndrewL:

So if trading can be consistently profitable like poker (I had a streak of 32 straight winning months) why haven't I heard of more billionaire day traders? It leads me to believe that maybe trends change too quickly for anyone to keep up.
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That's because now there are no billionaires left in this world.

4 months back "Ambani brothers (Mukesh & Anil)" were collectively valued at $91 billion by Forbes. Now Ambani Brothers have lost $60 billion (collectively).

All the Billionaires worldwide have lost Multi-billion dollars. Now they are beggars.
 
Doesn't FSLR trade 5m / day? Seems like there should be more trades there than the 1k / minute, even counting the large amount that trade near the open & close with the standard volume smile.
 
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