You get further being a snake salesman, than a good trader?

Discussion in 'Professional Trading' started by crgarcia, Nov 10, 2008.

  1. I hear stories from guys who make insane profits just pushing buy-and-holding index ETFs (at most combined with some sector ETFs).

    So, you actually get further being a snake salesman, than a good trader?

    Perhaps the fact that most traders lose, favors the buy-and-hold-ETFs strategy in the long run?

    Or perhaps it's just that most of their clients are naive.
     
  2. Certainly. Just as most of the ones who made big money in the California gold rush were the ones who sold picks and shovels to the prospectors...
     
  3. Yes, on average. If you're a smooth operator, you'll get far more women and far more money from people who cannot afford what you're selling. You also don't have to deal with millions of traders showing their fear and greed in the buttons they push...
     
  4. MGJ

    MGJ

    The expression you are searching for is "snake oil salesman," a term of irony. As Wikipedia says,
    • ... ... snake oil became a generic name for many compounds marketed as panaceas or miraculous remedies, whose ingredients were usually secret, unidentified, or mis-characterized — and mostly inert or ineffective, although the placebo effect might provide some relief for whatever the problem might have been.
     
  5. Yes, I intended to type snake oil salesman

    Sorry for the typo
     
  6. This is true for anything whether it be self help books, used cars, exercise/juice machines, public office, penis pills, etc..

    I know someone that made millions working his way up to biopharm chain as a head salesman. His job? To travel city to city as a biopharm lobby shill and market his drugs to doctors. Made a ton of money schmoozing with rich docs and is now retired at 40.

    His education and life experience..I think he worked at best buy once.
     
  7. Sales, like any competitive profession with $$$ involved, can pay very well if you are excellent at it.

    However, the best traders make way more than the best salesmen. John Paulson, George Soros and Paul Tudor Jones are richer than Anthony Robbins. And you don't have to suck the dicks of assholes to be a top trader either.