I would be MUCH more conservative. I would not run out and buy anything really. Never a Hummer. But I would employ people to work on my boat instead of doing it all ourselves. And I would devise my trading so that I did not have to stay and watch it so much so I could enjoy travelling all over in the boat. No more day trading for me.
It was just a way top suggest something to you for consideration. I took a chance that you might get it. It turns out that you are stuck in the realm of reading slicks as you point out above. After you past the surface, there are a lot of other things to consider. You will not get there for quite a while it looks like.
Although the original post asked the question in regards to risk..I wanted to share a thought I have had recently. It recently occured to me that if I were to suddenly start making alot of money,that not a whole lot would change in my life..I would eat where I eat now,have the same friends as I do now..Obviously I could travel more,live in a bigger place,drive a different car..but i think I would wear the same clothes..do pretty much the same thing.. the one big thing that would be a true luxury would be more free time.. I was under some impression that making alot of money would somehow alter my life fundamentally,but now I don't think so.. I have worked very hard on some personal demons over the last few years..maybe now I am ready to make big money,I honestly don't think I could have handled it before now.. anyways theres my ramble FWIW..
Take 7 million and put it in a very diversified range of investments. The other 3 million I would take to the pits in Chicago and have the time of my life...good or bad...just for the experience of it! :eek: Chris
I would keep 1 million in the account and I would make sure the 9 million are safe retirement money Hamp
Would there be any benefit at all? for this increased responsibility? or are we trading just for the essence of trading? Michael B.
If I had $10 million to work with: Save $250,000 in cash, and gold in a safe deposit box offshore (Isle of Man, Belize) Any lost interest on it is negligible. Save $2.5 million in T Bills. With the remaining $7 million to invest for the next 5-10 years. Buy a few China funds. Buy copper, zinc, and other commodities with no margin. Buy long term put options on FNM/FRE. Buy currencies of commodity exporting countries (Australia, Canada). Buy the Euro. Buy the yuan when legal to do so. Short the dollar. Play the US market only for short term trades. Buying on extreme panic, selling on euphoria.