If you are unfamiliar with the complete Turtle trading story take a read of my paperback edition of <a href="http://www.amazon.com/exec/obidos/ASIN/0061241717/trendfollowin-20">"The Complete TurtleTrader"</a>. There is no other source telling the complete story start to finish.
I think it is interesting WHY they blew up and try and learn something. It certainly wasn't because they were stupid, unlike the above poster.
Who is Stanley Druckenmiller? by maryrose on Jul 10, 2008 3:47 PM By now most or all of you have read about Stanley Druckenmiller, a 55-year old hedge fund manager, who is strongly rumored to soon own at least a small piece of the Pittsburgh Steelers, if not a whole lot more. Id like to summarize what has been floating around the last few days, in print and in talk, about Druckenmiller and his potential involvement with the Steelers. Druckenmiller was a college whiz kid at small and prestigious Bowdoin College in Maine after moving several times as a child. Shortly into his doctorate aspirations at the University of Michigan, Druckenmiller left that behind to make some money, some real serious money. He moved to Pittsburgh to work for PNC and then started a company called Duquesne Capital Management at the tender age of 28, which still has an office in Upper St. Clair. Along the way he teamed with George Soros, a widely-known international investment guru and the two of them struck gold together. In just one day in 1992, betting that the British pound would drop, Druckenmiller and Soros made a billion dollars. The Druckenmiller Science Center at Bowdoin College Druckenmiller now lives in New York and spends a great deal of time as CEO of Harlem Children's Zone, which helps thousands of poor families in an area that needs it most. But his heart never left Pittsburgh. Make no mistake, Druckenmiller is a Pittsburgh guy. Having moved around a lot as a kid he never established any roots or any great rooting interest for a particular football team. Pittsburgh has changed all that. Druckenmiller is a season-ticket holder and flies into Pittsburgh for all the home games. He still golfs regularly at Oakmont. This billionaire worth 3.5 billion, ranked 91 among Forbes Top 400 Americans, paints his face black and gold, wears a Troy Polamalu jersey and tailgates in the parking lot. How do you top that passion? The Harlem Children's Zone is one of many charitable causes Druckenmiller is involved in Yep he seems to be doing alright as well
12 DVD/Work Book "Schwager's Mastering The Market Trading Course" I'm curious if anyone has purchased this. It's meant to be a "how to guide" as opposed to telling stories. Mr. Covel how does this compare to your courses? Thanks!
I've read all of the Market Wizards books with great interest, I'm surprised a lot of people here are so skeptical. Maybe you haven't read the interviews carefully. Most of the people profiled in the books, with very few exceptions, have worked very hard to find their edge. Moreover, they have found a way to exploit it too, not an easy thing to do. I'm an active day-trader, and even though I've started relatively recently, I'm doing quite well. I've been developing some propietary systems too. I can't disclose all the details, of course, but a lot of the technical approaches in Schwager's books still work quite well today. There's a lot of stuff to take on board in your own trading.
I'm not sceptical, I know for a fact that several "Wizards" blew up and one is a convicted fraudster who bilked investors out of millions. If you're reading a book to learn market lessons, isn't it rather important to know whose approach continued working, and whose either stopped working or blew up in their face?
JOE RITCHIE Joseph Ritchie (born 1946) is a commodities and options dealer (finance) , the founder of Chicago Research and Trading, whose capital went up from $200,000 to over $225 million in 11 years(*). According to Business Week Business Week is a business magazine published by McGraw-Hill. It was first published in 1929 under the direction of Malcolm Muir, who was serving as president of the McGraw-Hill Publishing company at the time.... , "Ritchie is widely acknowledged to be one of the sharpest minds in the options business". As an avid aircraft owner/operator, Joe Ritchie and his personal friend and mentor, record-setting balloonist Steve Fossett James Stephen Fossett was an United States businessman, aviator, sailor, and adventurer and the first person to fly solo nonstop around the world in a balloon.... , captured 4 world records previously held by Chuck Yeager in a Piper Cheyenne 400LS. Flying a Piaggio P.180 from San Diego to Charleston, S.C. on February 6, 2003, Ritchie and Fossett averaged 546.81 mph, setting a class transcontinental record and, in the process, establishing new point-to-point records from El Paso to Charleston and Fort Worth, and from Fort Worth to Atlanta. The transcontinental speed record was selected as one of the National Aeronautic AssociationNational Aeronautic Association The National Aeronautic Association of the United States is a non-profit 501 organization and a member of the Fed?ration Aeronautique Internationale , the international standard setting and record-keeping body for aeronautics and astronautics.... 's Most Memorable Aviation Records of 2003. He has also served as chief of mission control on all of Fossett's missions. In 1989 Ritchie committed $ 30 million of his own cash to buy Eastern Airlines.http://pqasb.pqarchiver.com/washing....html?dids=73880740:73880740&FMT=ABS&FMTS..In 2000 he and his brother James tried to unite AfghanistanAfghanistan Afghanistan , officially the Islamic republic of Afghanistan, is a landlocked country that is located approximately in the center of Asia.... and overthrow the Taliban. Gorbachov's chief economic advisors said about Ritchie "My dear friend Joe Ritchie is able to use socialist principles and still make a profit." Joe Ritchie is also currently serving as the CEO of the Rwanda Development Board.(*)
Cool stuff. I remember being impressed reading his interview in "the new market wizards" but didn't know about the records made with Steve Fossett .