Today I want to tell you about the world-known traders. They managed to accumulate millions of dollars from small investments. They went through a difficult and thorny path before becoming successful traders. And now their stories inspire others to work hard and show that it is possible to make a fortune in the financial market.
Who is on the list of the most famous traders in the world? Here are five market participants that are considered to be the greatest traders and investors of all time.
George Soros is one of the world’s most successful investors. Born in Hungary, but in 1947 the Soros family moved to England where he graduated from the London School of Economics.
The name of Soros is associated with September 16, 1992, when the pound sterling dropped significantly against Deutschemark. This day is known as a “black Wednesday”, but Soros made a profit of more than a billion dollars this day. George Soros has been called “The Man Who Broke the Bank of England” since.
I’m only rich because I know when I’m wrong.
Warren Buffett, known as the “Oracle of Ohama”, is one of the most influential and famous investors. He was born in the family of a U.S. congressman and from a small age was engaged in speculation. He first bought a stock when he was 11 years old.
Warren Buffett adheres to the long-term investment strategy. He repeatedly accurately predicted global changes in the world financial markets and made good money on it.
He runs Berkshire Hathaway, which owns numerous companies, including Duracell, Geico, Dairy Queen.
Risk comes from not knowing what you’re doing.
A trader from the Netherlands, who later moved to the United States. Known as one of the first developers of the automated trading system for managing clients’ money in the futures markets. Ed Seykota turned $5,000 into $15,000,000 in a client account over 12 years. So, he increased the capital of the client by 250,000%.
He was featured in the “Market Wizards” book by Jack Schwager. That’s what the author writes about Seykota: “Although completely unknown, not only to the public but to most of the financial community as well, Ed Seykota`s achievements must certainly rank him as one of the best traders of our time”.
My style is basically trend following, with some special pattern recognition and money management algorithms.
Jesse Livermore is the greatest Wall Street speculator of the 20th century, who used to lose everything and then become the richest man several times.
He is known for predicting the market during the crashes of 1907 and 1929. His profits were $3 million and $100 million, respectively. During the Great Depression, he became the most influential trader in the stock market. The size of Jesse’s fortune reached several hundred thousand dollars. But later he lost all money and shot himself in a hotel room in 1940.
Jesse Livermore’s biography is described in Edwin Lefevre’s “Reminiscences of a Stock Operator” book. Although the name of Livermore is not mentioned directly in this book, the prototype for the hero was Jesse Livermore.
Do not anticipate and move without market confirmation – being a little late in your trade is your insurance that you are right or wrong.
Paul Tudor Jones
Paul Tudor Jones is an American investor, a hedge fund manager. In 1980, he founded his hedge fund called Tudor Investment Corporation. Paul Tudor Jones predicted the “Black Monday”, one of the strongest falls in the US stock market.
On October 19, 1987, the Dow Jones Industrial Average lost almost 22%. Jones tripled his money by shorting futures, earning about $100 million on the trade.
I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have.