An old Dan Zanger interview

Discussion in 'Professional Trading' started by Port1385, Dec 28, 2008.

  1. There are a couple of key parts to the article. In 2000, he was at 42 million and he was going to call it quits and put all of it bonds;) Then he thought about different things and decided to continue on. He then lost 70%.

    At some point, everyone has to call it quits especially when you know the trend has been broken. He knew the trend was broken yet he continued on.
  2. Yes, but I suppose the first part of his strategy was good since he could make 42 millions trading it.
  3. BCE


    I chuckled when I saw the title of this thread. :) Brings back memories. I was wondering what he's up to these days. I see he still has his website. Thanks for sharing those links guys. :)

    Some people manage to get out at the top and take their profits. Two come to mind. One is Mark Cuban, who sold to Yahoo at the peak of the Dot-com bubble for $5.9 Billion:

    "In 1995, Cuban and fellow Indiana University alumnus Todd Wagner started Audionet, combining their mutual interest in college basketball and webcasting. With a single server and an ISDN line, Audionet became in 1998. By 1999, had grown to 330 employees and $13.5 million in revenue for the second quarter. In 1999, during the Dot-com boom, was acquired by Yahoo! for $5.9 billion."

    And the other guy is the Russian guy, Michail Prokhorov, who bought the New Jersey Nets.:

    "In April 2008, Prokhorov sold his most valuable asset - a 25% plus two shares stake in Norilsk Nickel - to United Company RUSAL, another mining conglomerate controlled by fellow billionaire Oleg Deripaska, in exchange for some 14% of Rusal stock, about $5 billion in cash and an obligation to pay over $2 billion more.

    In retrospect, the deal has been singled out as a major success for Prokhorov: only three months later, following a dip in oil prices, a disastrous stock market crash halved the value of most Russian companies, including Norilsk. Prokhorov emerged as one of the very few businessmen to have cashed out in time."
  4. Larson

    Larson Guest

    Isn't that called gambling? In hindsight, only a minority at the time realized the magnitude of the drop that would ensue over the next two years.
  5. Why should Dan Zanger sell? It's his whole life...
    #10     Sep 12, 2010