Really Rich Guys - Top 10 Traders

[wiggs73]

owsley,

FWIW, if my net worth was 1B+, I would not get up for work, nor would I stay in the house all day.

[Thremp]

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how do you get up for work if you have 1B+ net worth? i dont understand this world at all.

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No love of power?

[Paluka]

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luck>skill for top traders.


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I agree with this completely. In order to make this much money, convincing someone to let you gamble with their money is a much bigger factor than your actual trading skill anyway.

[thatpfunk]

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how do you get up for work if you have 1B+ net worth? i dont understand this world at all.

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how do you stay in the house doing nothing all day if your job is flying a helicopter to the building you own with the people who work for you and going and running [censored]?

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to clarify: i am not advocating hanging out at the house all day, at all. im talking about taking the wife and kids to africa or china or australia taking your yacht to south america or going around the world in a hot air balloon or learning to fly jets or buying a [censored] country for gods sake.

1B is easily enough to set your family up for generations and still spending as much as you want for the remainder of your existence.

i assume that these people have the power/ability to do anything they want for everyday of their waking lives. why anyone would spend a day working just baffles me. especially if you have a family.

edit to add: basically why every uber-rich guy isnt like Branson (from what i understand) baffles me. if there are legit reasons besides power hunger then id like to be enlightened.

[El Diablo]

tpf,

Competition, Excellence, Legacy, Ambition, Scorecard, Reputation, etc. Tons of reasons.

[Shadowrun]

El D,

The difference is the majority of people do not go to work for those reasons, so its hard to attribute it to others.

[turnipmonster]

I guess it depends on if you like your work or not. if I made millions of dollars playing or writing music, I would still probably spend most of my time in music. at least a few of these guys must feel the same way about their jobs.

[El Diablo]

turnip, shadow:

Yep. One could just as easily ask, why does Tiger bother to practice so much and still play golf tournaments? Same reasons.

[dc_publius]

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The most interesting traders to me are Cohen (SAC) and Simons (Renaissance). Both charge massive fees, have large funds and still crush the market after fees for long periods. Simons supposedly uses much less leverage than other funds. Both of these guys should be figments of our imagination according to "A random walk down wall street".

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Reread ARWDWS. Your question is directly answered in the book.

[thatpfunk]

"Competition, Excellence, Legacy, Ambition, Scorecard, Reputation, etc. Tons of reasons. "

Once you pass the $1B+ mark aren't most of these pretty much cemented in stone?

"Yep. One could just as easily ask, why does Tiger bother to practice so much and still play golf tournaments? Same reasons. "

there are instances of athletes retiring at the peak of their success (although few, granted).

specifically, tiger has a tangible "mountain" to climb, Jack's records, before he can be remembered as the greatest ever. I was not aware of such accomplishments being noted, remembered, etc in the halls of financial history.

turnip,
i would imagine this would be more like having to continuously churn out radio-friendly studio music year after year or touring and playing the same songs that youve grown to hate that the public loves.

if these guys can come and go as they please, invest stres-free, etc then i have no basis for my statements. but i imagine these guys are still working pretty damn hard.

edit to add: i do understand that some people are just built to work like this and they enjoy it/live for it. i just dont understand it and am trying to explain my reasoning. it also explains why i am where i am and they are where they are.