If you’re a trading fanatic like myself, you heard about one or two of the hall of farmers in the trading industry.
What is interesting, is that they have a lot of differences in character, nationality, and even methods. However, a common thing that is shared between them all is strong will and perseverance.
The list is never-ending; however, we picked the most unique traders to talk about.
You definitely heard of Soros and the bank of England. Well, this is not a fake story, it actually happened back in 1992. George Soros aka “The Man Who Broke the Bank of England” is a Hungarian trader who founded Soros Fund Management.
He sold short $10Bio worth of British pounds, which lead to an unfortunate disaster for the bank of England.
His net worth is estimated to read approximately $8.6Bio as of March 2021. Given his level of generosity, he was called “Most Generous Giver” by Forbes, after he donated $32Bio to the Open Society Foundation.
He co-founded the Quantum Fund with Jim Rogers, who also happens to be another hall of famer on our list.
Jim Rogers was born in America in late 1942 and is based in Singapore where he held multiple executive positions.
He and Georges Soros were colleagues in Arnold and S. Bleichroder, before founding their own hedge fund. In the 1970s they achieved a 4200% return over 10 years from the fund.
Unfortunately, not all traders have a happy ending like the ones we talked about. This goes to Jesse Livermore, who was born in 1877 in the United States.
Livermore was famous for being a big winner and a big loser at the same time. We all know what happened to the global economy in the 1929 market crash, well none of us knew it as much as Jesse, given that he made $100Mio out of the drops in the market at that time.
However, his aggressiveness in trading combined with greed led him to lose everything he had in 1934. This, unfortunately, drove him to take his own life in 1940.
As you can see, we might make millions and even billions in trading and investing in the financial markets. However, this process can be really challenging, whereby controlling our emotions and following strict risk management approaches is essential.
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The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.