Now I am trading mosty Gold, however back in 2001 I was only swing trading. I was not daytrading as I was involved in a large real estate development. I had a $600,000 account (cash) and I was short DCEL and made a small fortune. I also had Nextel and several other stocks that all were Home runs. I had 4 stocks that made me over 1 M alone. I did very well in 2003 also but it seems like the last 3 years have been a grind. I make over $300,000 a year but I was used to making much more in real estate. I got out of real estate in 2002, I exited too early. I had no idea that the next 3 years would be the best years. My previous partner who stayed in the business made millions while I sit here grinding it out for $1,000 or so per day. You may think a $1,000 a day is good but it is not when you are used to making $125,000 profit by selling a $500,000 home. I did very little work considering the amount of money I was making. Now I realize how good I had it. To make $750,000 a year in real estate from 1995 - 2002 was easy for me, now I would be luck to make $200,000. Now the real estate market sucks, very little money to be made.
exit timing is always hard - you know this from experience. be glad you got out when you did and gained experience somewhere else. you could be an agent out there now that has no other business knowledge to fall back on. consider the years you "missed out" in real estate tuition for your trading education... (that's how i look at every loss i book)
MMHHHMMM... If there are any money managers on here (aside from "trading firm" owners) they are likely smart enough to remain silent as declaring on ET that you manage serious money, yet are caught cohorting with cheeseballs from backwoods Ohio, would be about as embarrassing as it gets.
You seem to forget he is "ONLY" managing 100 MILLION $$$. Surely with that Small amount of money he has plenty of time to talk here with us Pikers.
I can understand his position. Although, if he is talking about not believing in the market then he is a Tool. A friend of mine manages clients money and does very well and makes a nice living off of it. When he trades his Own money he does terrible, he gets very emotional. I think this guy is a tool however, a few thousand dollars, pleaaaaaaaaaaaaaaaaaaaaaaaase. :eek: