I think most of you are children playing with daddy's computer while the babysitter watches tv, but if any of you can actually trade, prove it to me with "only" 6 months of profitable statements on a live account (no photoshop results, please, and low SandP correlation) and I will let you trade funds in an account via LPOA.
I think it's the kind of thing where once you have a million, you *want* 10. Once you have 10, you want 100. And if you have 100, you really want that billion. And in all cases, managing OPM will get you there faster.
No kidding. The Swiss made a statement that Indian nationals have $1.45 TRILLION in cash stashed in Swiss banks. Next are Russians and Chinese. I doubt any of these people are on the Forbes 500 list. Neither are many of the Arabs Sheiks that are each worth more than a $Billion. Is it possible to make that type of net worth trading like the average ET trader? No. You'll have to have a few Billion AUM for a decade to reach that level of wealth. Most ET traders are piking for a ES tick or scalping stocks for pennies. Most successful ET traders who make 7 figures a year don't have the pedigree to sell themselves to accumulate billions in AUM. For most sane individuals, making consistent 7 figures with the paid off house and unlimited vacation time is payoff enough.
Livermore used OPM it's called margin, leverage,loans ..whatever you want to call it. Also your missing the fact that many hedge funds contain a high % assets owned by the managers themselves.
Well said. The downsides of having other's aware of true net worth (or even approximate net worth) totally overwhelm the benefits imho. My above comments are part of the reason and the other part is the OP in OPM. Other people are a PITA. R
I have invested with a managed forex company that has been paying upto 2.8% per trading day for past 18 months. So it seems Ed Seykota's return of 250,000 % in 16 years is possible.