ok, so the sequel to this earlier thread (https://www.elitetrader.com/et/threads/making-100mm-from-trading-with-no-lps-outside-capital.329189/) just got released fresh off this week's press from Forbes magazine, optometrist makes US$1 billion+ as a private investor https://www.forbes.com/sites/maddie...he-odds-to-become-a-billionaire/#50a331a922e8 tl;dr version: - he grew up middle class, had unhappy family situation, etc - studies engineering then becomes optometrist - invents stuff, gets patents, starts small/medium-sized company - uses stream of profits to buy tech stocks, 'cos he likes science & analyzing 'patent portfolios' - moves around stock positions worth hundreds of millions - once lost $50m trading against the Fed - cash flow x compounding for number of years = $$$ - donated $100m to universities, estimated to have $2.3 bln fortune
This guy is one smart cookie. That from what I read. Would have been nice to have bought some AAPL shares when it was cheaper but, woulda, coulda, shoulda does not count! Life goes on!
Nice thread title but as usual about threads like this that are misleading... The guy is an investor...not a trader via you cleverly inputing the word "trading" in your thread title does not make him a trader. wrbtrader
He already had made millions from his lens company. So that is quite misleading, very few have millions to invest.
My mom's financial advisor once won 15k in the lottery. If the OP was a journalist for the local newspaper in her city...the headline news would have been "Trader wins 15k in the lottery" instead of "Financial Advisor wins 15k in the lottery". Therefore, the issue is not about more money versus less money and the OP didn't mention such as an issue. Simply, changing the facts in the title does not make it true and doing such will help to perpetuate false information just to get more readers (views) or likes. Reading the story, the words "investor" or "investments" are mention more than 10x in the article. In comparison, the word "trader" is never mentioned. Surely the OP read the article he posted ??? Now imagine had the actual journalist of the story @ Forbes had done exactly the same...change the word "investor" to "trader" in his title or maybe in the entire article... He'll lose his job especially if he's done such before. Worst, some naive person comes along and repeats the false information via posting a list of famous/wealthy traders or billionaire traders...this guy's name (Herbert Wertheim) will be included on that list of billionaire traders. P.S. This has happen a few times before here at ET. List of famous traders have been posted when some on that list never were traders...they were only investors or president/CEO of an investment company. Names like Warren Buffet, Abigail Johnson and such have made the list of Billionaire Traders by people that do not understand the difference between a trader & investor. wrbtrader
The reality is that solid long term investing can earn far more than any trading strategy. Thank you for the article. It was fascinating and inspiring to read.
Very true...more amazing is that he still owns much of his investments in IPOs of famous companies. wrbtrader