4 times 25 are also 100...
I am not looking for the quick profit. I am looking for a consistent performance. Instead of being lucky once, achieving 100 percent annual return, I prefer four years at 25 percent.
Four years in which I know exactly what I am doing, being always in control of the situation.
When passion becomes a calling...
...and a calling becomes a profession. And there aren't many professions with a reputation worse than a banker's, broker's, or even more perfidious, a trader's. This special species is often stigmatised as ‘gamblers’. People generally point to them as the cause of major (financial) crises.
But - why?
How it all started ...
At the end of 2007, I used an asset manager in Marbella to deposit a seven-digit sum in a private bank. Quite a large amount of that money quickly vanished like ice cream in the sun. As my account continued to shrink, they drove ever larger cars …
Friends and family often ask what our proprietary trading firm considers as today's best investments: Whose stock should I buy? What’s the deal with gold? When will the price of oil go up again? Or should I wait for a while...?
And all I ever do is shrug and say: I have no clue! This is when I get this look of incredulity just before they say: But YOU are the stock market expert, you're supposed to know these things?!
The explanation is simple: You CANNOT predict prices - never ever!