Really Rich Guys - Top 10 Traders

[El Diablo]

http://www.traderdaily.com/news/item/5585.html

At the top: "John Arnold Houston Centaurus Energy 33 $1.5-2B"

Much more famous guys like T Boone Pickens, Steven Cohen, and David Shaw only made between $600M to a billion.

I found the profiles of these guys really interesting. And I think I need to learn more about natural gas.

[James Boston]

Did you mean to link an article?

[El Diablo]

JB,

Thanks, fixed.

[suzzer99]

33 years old, 1.5-2 billion in 2006. I'm really glad that number is so inconceivable to me that it has little effect.

[JP OSU]

[img]/images/graemlins/heart.gif[/img] T Boone

[ArturiusX]

And so many more who would be self trading and making $100m+ too.

[mmbt0ne]

ED,

I saw this the other day as well. I think it's awesome that someone like Steven Cohen can make sooo much, and yet the people still acknowledge that they could be like 50% short of his actual earnings.

[TheJubilantMale]

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33 years old, 1.5-2 billion in 2006. I'm really glad that number is so inconceivable to me that it has little effect.

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WOW. What kind of profits do you have to generate to make that much a year. It's per year, right?

[DcifrThs]

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33 years old, 1.5-2 billion in 2006. I'm really glad that number is so inconceivable to me that it has little effect.

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WOW. What kind of profits do you have to generate to make that much a year. It's per year, right?

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depends on your fee structure.

guy who owns the hedge fund i work at is easily worth 20bil.

he keeps no body guards but is so down to earth it is scary.

asked once "how do you think the money has changed you?" he said:

"it hasn't. i know many people say that and it has, but that is because the pursuit of money has always been high on their lists. the highest thing on my list is the pursuit of excellence at all costs. when you pursue excellence, the money doesn't matter so much, as long as you love what you do, always try to get better, have great people around you and a great family you'll be the happiest person ever. that is what life is about. if the money started to change me, i'd be notified by those around me very quickly."

he dresses in jeans very often. in teaching our Market History class, he takes about 1.5hrs out of his extremely busy day every monday to teach new analysts about the history of markets that he lived & traded through.

anyways, those top traders are surely at the top of their craft. but reading "fooled by randomness" lets you know that they can very easily talk bigger than they trade in expectation. large risks are necessary for large rewards. therefore, those at the top are likely those who have benefited disproportionally from the risks they take, almost by definition.

meanwhile, those who make a consistent living taking less relative risk, but earn a higher risk-adjusted-return, tend to not break out. our fund is one exception simply due to the fact that the clientelle are huge pension funds/endowments/fund of funds etc that give us money based on the risk-adjusted-return we have generated & continue to generate since our process is both transparent to our clients (vs. funds like renaissance & goldman who are basically black boxes) & target a specific level of risk for them that they know they can reduce it or increase it at any time.

blah blah blah, you gotta be lucky to be in that top 10 list of traders. i would LOVE to see the rolling list of the top 10 including those that fall out of that list year by year. i bet you'd find a far higher % that blow up vs. your average population of traders.

Barron

[lapoker17]

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And I think I need to learn more about natural gas.


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i knew a bunch of guys who were at wharton undergrad like 10yrs or so ago. when it came time for everyone to get jobs a lot of guys went to goldman and morgan stanley etc., then there was this one dude who was probably in the lower middle of the class. partied a lot, standard slacker and not too bright by wharton standards. anyway, he tells everyone he's going to work for some hedge fund in connecticut - whatever - he may or may not have mentioned tudor, but i don't recall anyone being too impressed. i know market wizards had recently come out, but maybe none of us had read it yet.

so dude goes up to connecticut and word filters back that he's some kind of glorified errand boy. everyone laughs. around christmas (3 months later) he comes home for the holidays. he's driving a twin turbo 911. eevryone's like, uh, wtf happened? he says - eh, i had some idea about natural gas and they let me run with it.