Agree. He's a great guy. Thought he was trading from down near San Diego. Hmmm. Got to run. Library is closing. Have a great night.
Jay Gould - very articulate and extremely focused. Cornered the gold market for god's sake. Charles H. Dow - summarized speculation the best. Still hasn't changed even today. Founded the DJ averages. Jesse Livermore - contrarian trader who loved to live the high-life and luxuries of being wealthy. Killed himself... figures. Richard Russell - carrying on Charles H. Dow's theory of speculation. Unmatched financial insight. Also the reason why I'm doing well today. Warren Buffett - perfect example of why the big money is made in the secular moves, not the daily trading.
apparently, in the new trader monthly, he made $25million in 2005 trading aapl and goog... and his results get audited, they aren't just all babble.
Perhaps, but I think Zanger has one thing on the others... He started with his own (modest) capital, and made his millions without a support staff, inside connections or OPM. He didn't start selling his own services/newsletter until later.
#1. Warren Buffett - when he was making his biggest leap in net worth (from 1956 to 1970) he was an extremely active trader/abitrageur. Nobody has been more successful, before or since. #2. Stevie Cohen - 30%+ a year on billions, AFTER his 50% performance fee. #3. Jim Simons - same as #2 in returns. Now trying to raise a $100bb fund. Only hires Phds (i was thrown out of grad school so he rejected me). #4. Carlo Cannell - manages $1bb. Hedge fund open since 1992. Up every year. Average annual return 27%. 2002 - 27%, 2001 - 41%, 2005 - 16%. 2000 - 32%, etc. He seems to trade smallcap value stocks. Some of his current picks: MAPS FFEX MKTX CANI. I like to go to 10kwizard.com and check out his quarterly 13F-HR to study the picks he's in. #5. Yes, Jim Cramer. Read Confessions of a Street Addict. Its an education. And 24% a year isn't bad either. Lets not forget that this is a thread on traders worth studying - not necessarily the guys with the biggest returns. Victor Niederhoffer is definitely worth studying, both for his successes and failures. And Lowenstein's book on LTCM is a must-read for dangers of hubris. Bernard Baruch was the Dan Zanger of his day. All self-made from trading and not rich off of management fees. My Own Story, by Baruch is a classic. I'd say Soros but I can't get through his books at all so, for me at least, its difficult to study his style.
A quote from waggie945 who hasn't posted in awhile but seems like a cool guy who I've enjoyed talking to: "I worked for Victor Sperandeo from 1984-1985 as a floor trader on the NYFE trading stock-index futures. Vic was super generous, and you only needed to show just a bit of enthusiasm for him to make time for you! A Great Guy, and his library of books on technical analysis dated back to the early 1900's. . . It was simply unreal!" He also mentioned that if he could spend time with anyone and pick his brain it would be Lewis Borsellino who as it turns out was inducted into the Trader Monthly Hall of Fame this month.