Kidney failure? You would think when your worth is 6 billion, you can buy a kidney or 2... Anyhow for inspiration: https://www.bbc.com/news/world-asia-india-62538324 The son of an income tax officer, Jhunjhunwala has said that he became fascinated with stocks as a child after watching his father balance his market investments. Jhunjhunwala began investing in the stock market in 1985, when he was 25 years old - he started off with $100 that he had borrowed from a relative, reports say. He later set up Rare Enterprises - the name was coined from the first two letters of his name and that of his wife Rekha. He had the reputation of being a risk-taker in his investments, many of which paid off spectacularly. In a 2021 profile, Forbes wrote that while Jhunjhunwala "acquired his legendary Midas touch by picking winning stocks", he has also recently started seeing his private equity investments pay off. A decade ago, he told Reuters in an interview that he didn't like being called "India's Warren Buffett", adding that the Berkshire Hathaway CEO was "far, far ahead" of him. "I'm not a clone of anybody. I'm Rakesh Jhunjhunwala," he had said.
$100 to $5.8 billion over 27 years is 94% a year compounded. However i would guess he also managed other people's money at some point, not just his own.
You don't get that rich by managing your own personal trading account and growing and trading it. All of those types of people are mainly in the business of collecting and generating fees, managing and overseeing a ton of money. However, it's still technically possible for a retail trader to do that as well trading his own personal account.
Not strictly true. Many of the original market wizards did not. Of course these days it is very easy and common to manage other people money so nearly everyone does it. But that doesn't mean you cant get rich with just your own money. It is just a harder and longer option and you could be stupid not to take outside money and collect fees given how easy it is. Although there are downsides and headaches to managing other peoples money..
Gosh, I could seriously manage other people's money. I trade the S&P every day. I do quite well, a high level of accuracy...combined with 252 trading days a year.....I could give out serious returns. Maybe, a future thought to keep in mind, I don't need to be a billionaire though, I'm very fine being just a fraction of that and leading a quiet, private, life.
I was thinking more about drawdowns and losing money for investors. It is bad enough living through a long drawdown for yourself, left alone also drawing down other peoples money at the same time. And even worse they pull out money at the bottom of the drawdown, solidifying those losses forever. Then they curse you for life for losing them money.
the key is to trade such that you don’t have big drawdowns and have investors who truly understand the risks of your strategy.