Quote from travelingtrader:
What are the largest fortunes ever made by INDEPENDENT traders?
By independent trader I am talking about someone that only trades their own money. Not someone that manages other people's money. Obviously lots of hedge fund managers and money managers have gotten very rich from trading but they were trading with other people's money.
Have any independent traders ever made $100 million, $250 million, half billion or even billion dollar fortunes just trading THEIR OWN money?
If so who are these independent traders and what are their stories?
I didn't read the book The Big Short, but heard a story about two junior investment bankers who quit to start a hedgefund that was self funded. They took 50k and turned it into like 60MM. They did this by picking stocks and then buying LEAPS and tripling or quadrupling their money and doing it over and over again, constantly doubling down. They then were massively short in 2008.