True Legendary Trading Stories

Discussion in 'Trading' started by timvodas, Aug 29, 2007.

  1. timvodas


    I'm starting this thread in hopes of generating specific stories of "legendary" trades of which the writer has personal knowledge.

    I'll start with my own:

    While trading with Tim Sykes in 1999, I traded a joint account for Tim and myself. At the time I turned the account over to the firm to concentrate on my own trading, we had a small position of 19,000 ENN (Equity Inns), which was under water by about $20k.

    A few months later I learned that Tim had "added to the position in ENN." I believe his exact words were,"I bought a little more."

    A week later I learned that "a little more" was 1,000,000 shares.
    It seems 'adding to a loser' does work sometimes.
    After the stock had rallied $2-3 dollars, Tim told me he had lightened up on his position. Each week, Tim told me he was 'lightening up.'

    After about two months of lightening up, I found out he was down to ONLY 986,000 shares!!

    I think he's collected about a 13% dividend during the whole time he's owned it, on top of the capital gains. I'm not sure if he still has a position.
  2. Is this a joke? This is originally a story about Bob Bright told by Thetraderprofit.
    Please tell me this is satire.
  3. Completely false. I don't appreciate this outright lie.
  4. one guy i know loaded up on hls 300k ( avg .42) hls after it dropped like a rock and sold his shares at avg of 9, i did look stupid telling him to take profits at 4 lol
  5. vodas,


    One down two to go. Got any legendary trading stories about a porn star or a Rabbi?
  6. 3 posts and put on my ignore list, good job.