What kind of approach can make you INSANELY rich?

Discussion in 'Trading' started by trade5656, Feb 9, 2017.

  1. dealmaker

    dealmaker

    In his best seller "The Big Short", Michael Lewis recounts the story of "Cornwall Capital Management" which turned $110k into $120-130M in the span of credit crisis IE when their opportunity came they were ready.



    https://en.wikipedia.org/wiki/Cornwall_Capital

    ps at the time Cornwall was based out of Berkeley, which is also the home of Michael Lewis. 3 partners were James Mai, Charlie Ledley and Ben Hockett.
     
    Last edited: Feb 9, 2017
    #11     Feb 9, 2017
    Jones75 likes this.
  2. Instead of wasting...time, thinking about how to make a billion dollars...you should spend your time trying to make your first $1,000 trading ;)o_O (or even your first $100, for that matter)

    But to answer your question...start a hedge fund involved in insider trading like Steve Cohen/SAC Capital...that charges a 3% management fee, and a 50% performance fee of profits. This will compound fast.

    PBS Frontline, To Catch A Trader

    This is how you turn $25 million dollars into an 8 Billion personal fortune.
     
    Last edited: Feb 9, 2017
    #12     Feb 9, 2017
    Zzzz1 likes this.
  3. Easy money, "fast and HUGE"... that's the sugar dream of traders when they first start out. :)
     
    #13     Feb 9, 2017
  4. ppppffffff what nonsense

    i just found a system that makes 1020% a month and is being sold for 9.99$ right now

    will get in forbes soon stay poor noobs
     
    #14     Feb 9, 2017
    yiehom and dealmaker like this.
  5. comagnum

    comagnum

    Contrary to popular fantasy it really does require $ for most of us to make any significant returns. Approx 3.5% of day traders are able to make a living and of these approx 1.6% make a large income from several hundred thousand to over 7 digits. If your female day trader your odds are higher of making it to the 3.5% group.

    How do you get rich - what worked for me as it does for most people, for making any sort of significant returns was from investing a large amount of money into an emerging technology such as the Internet related companies in the mid 90's or the wireless companies in the late 90's and hold for a least a few years. The returns on these investments created outrageous returns even if you only got a piece of these trends you likely saw well over 400% returns on avg inside of 2 years. These types of opportunities are always emerging -there will always be plenty of entry points for those that have adequate risk capital and the guts to make these investments in the years & decades ahead. As a trader I will use up to two-thirds of my capital for this type of strategy and the other third for swing trading.

    Cramer explains that the party is never over.

     
    Last edited: Feb 9, 2017
    #15     Feb 9, 2017
  6. Overnight

    Overnight

    So invest 10 bux in it, and let us know your results in a month with live money. Kthanxbye.
     
    #16     Feb 9, 2017
  7. Not sure if my phone will have 3g connection on my yacht in the middle of the ocean at that time
     
    #17     Feb 9, 2017
  8. Zzzz1

    Zzzz1

    Buying distressed debt.

     
    #18     Feb 9, 2017
    FCXoptions and comagnum like this.
  9. newwurldmn

    newwurldmn

    As Andy Kessler said it in "Running Money," trade the convexity of the convexity: he had some historical example of investing in the company that made the steam engine that allowed them to bore through mountains during the industrial revolution. In his case, he made like hundreds of millions investing in a company (only 1 of 2) that made the springs for the laser in all the CD-R drives just as Napster started taking off.
     
    #19     Feb 9, 2017
    zdreg likes this.
  10. Chelsea Clinton's husband did that with Greek bonds, lost 90 percent of the money and finally liquidated his hedge fund this week.
     
    #20     Feb 9, 2017
    dealmaker likes this.