Trader Victor Sperandeo
Victor Sperandeo is the most famous figure in the field of technical and graphical analysis, as his method of construction was able to settle forever the debate on how to choose two points to draw a trend line.
Sperandeo became a famous stock speculator after being interviewed in Schwager's book and after writing his own books about his approach to options trading.
However, it was not only his scientific work that made Victor a famous figure in trading, but his long-term effectiveness in asset management, with a return of 70 percent per annum.
Equally fascinating was his success story and the life journey that the uneducated boy had to go through before he was able to conquer the top of the stock market world.
Getting to know the exchange
Victor Sperandeo was a very passionate boy who loved card games. Even as a schoolboy, he became deeply interested in poker, and after reading several books about the game, he realized the importance of skillful risk management.
After finishing school, Victor was faced with choosing his future profession. While he was already making good money playing poker, the very idea of being a professional player his entire life was repulsive.
When he opened the classifieds and compared his current income with the job postings, he saw only three positions: a physicist, a chemist, and an options trader.
Naturally, he didn't have a degree in physics, so his decision to become a trader was predictable. Having also thoroughly studied the trader's profession, he realized the importance of skillfully managing probability and risk, something he does daily in poker.
Victor's conquest of Wall Street didn't go as planned. His first job was as a quoter (http://time-forex.com/kotirovki) with a minimum salary, and then he was transferred to a slightly better position - as an extra.
However, neither his first nor second position had much to do with the trader's profession, and working with numbers only dampened the young man's potential. After some time, he was fired because Victor made many mistakes and showed no interest in the work.
Victor Sperandeo's Career Ladder
After leaving his job as a statistician, Victor devoted himself to studying stock market literature and found his own niche. In one interview, he stated that he found the stock and bond markets very boring, so he decided to focus on options, which were less popular and less studied by traders and investors at the time.Having decided on his field of activity, Sperandeo worked for two years as an over-the-counter dealer, earning money on the spread from selling and buying options (Option Trading - http://time-forex.com/interes/opcyonnyy-torgovly). Afterwards, Victor began working for a company that offered him piecework wages, namely half of the money he earned.
After six months on the job, Sperandeo had earned over $50,000, and instead of rewarding the employee, the director, who earned the same annual salary, told him he was being promoted to a salary of $20,000 a year.
Seeing his strength and the management's desire to profit at his expense, Sperndeo left the company and in 1971 founded his own dealership, Ragnar Options.
The newly created company quickly gained market share, but after some time, it merged with a Wall Street firm. In 1978, Sperandeo received an excellent offer to manage Interstate Securities' assets on equal terms. However, in 1986, the trading department was dissolved, so Victor went on his own.
After a year and a half of independent trading, Victor Sperandeo realized his capital was insufficient, so he founded his own investment firm, Rand Management Corporation. Over the course of 18 years of trading, the firm closed the year with a 70% profit, making Sperandeo a legend in the options market.
Read Sperandeo's book Principles of Stock Speculation - http://time-forex.com/knigi/princyp-prof-spekul
