i think he woud disagree with you, hes as much a daytrader as any prop trader on an i-bank desk, or at event driven hf.
hey, no argument here.. more power to 'em. i'm all for hard work.. but we can't say they weren't active intraday traders back in the 60's and early 70's before they blew up. Marc Rich was an adept trader when he was working for his wife's father well before he ventured out on this own. Soros as well.
shows your level of understanding doesnt it. have you ever tried day trading with a billion dollar account? liquidity requires time and money to be absorbed. sometimes, for serious money, that time may be longer than a day. there are many other issues to consider as well, but i am not your fountain of knowledge. the truth is that real successful traders arent about to advertise their wealth. successful trading takes a certain type of person. just like being a successful porn star requires a certain type of lady. that person is usually quite humble and is more interested in the markets than money or fame per se. in business (like running a fund etc) you WANT to be on lists like this to shout your story and attract investment. others want to avoid publicity at all costs. hope you have learned something.
If daytraders are only worth millions and not billions does that make them crap??? Billionaire lists are for business owners, not traders.
Inheritance is the most important determinant of wealth. Accumulating wealth takes many decades and many generations. Even if you look at the 'self made' guys on the list - Gates, Dell, Google guys - they'd didn't pay for their Ivy League education (even if they droped out) and the connections that come with that education out of their own pockets. I doubt Gates, Dell, and Google guys would have made it if their parents were middle class and they grew up and went to college in a place like Newark - NJ. There are few rags to riches stories out there, but they are interesting - like the single mom on welfare that authored the Harry Potter books.
This thread was obviously started by someone who failed at trading. Wahhhhhhhh There are also no burger flippers on the list - which is your current job. :eek:
Marc Rich used to go on holiday in Switzerland (his home now), and setup his hotel room in advance with trading terminals. This was like 25 years ago when the technology was archaic. Imagine how much this cost him. Yep, he was glued to his screens.