The best traders.
This section describes the success stories of famous traders and the strategies they used. Is it really that difficult to succeed in trading? What does it take? The key secrets of profitable trading.
Peter Lynch
Peter Lynch is the manager of one of the largest hedge funds, whose unique approach has enabled him to maintain the fund's profitability for 13 years, and the growth of his assets through stock purchases has made his fund the largest in the world.
Peter Lynch is a star in the investing world, and his books ( Beat Wall Street ) lay bare all the essentials of stock picking and smart investing.
It's also worth noting that Peter Lynch is a clean investor, not involved in any major regulatory scandals, so his success story is beyond doubt.
However, before reaching such extraordinary heights, he had to endure a rather difficult life experience, which will be discussed in this article.
Charles Dow – the man who changed the stock market forever
Charles Dow made a huge contribution to the development of the stock market and fundamentally changed the way traders and investors perceive stocks and other assets in the commodity and futures markets.
He also went down in history as the creator of the most important barometer of the US economy – the Dow Jones Industrial Average.
Dow was born on November 6, 1851, to a family of poor farmers. From childhood, Charles disliked his parents' primary source of income, and the prospect of continuing the family business greatly daunted him.
Therefore, at the age of 18, without any formal education, the young man left his home and farm and took a job as a journalist at a small provincial newspaper.
John Meriwether. The Fateful Fall
John Meriwether was considered a master of hedging risks and building positions based on neutral positioning, profiting from the so-called spread.
Incidentally, John Meriwether was one of the largest investors in Russian securities, specifically debt bonds, which ultimately led to his downfall after the world-famous default of 1998.
He managed billions of dollars, and his team included the best mathematicians and economists, which allowed John to remain at the top of the Olympus for a very long time.
Brian Hunter - Chasing the Bonus
When studying the stories of successful traders who motivate us to push through and not give up halfway, it's crucial not to ignore the stories of major failures and unsuccessful traders.
Of course, to stay motivated, you need to look up to the best, but it's the stories of failures that show how thin the line is between a losing and a profitable trader, and how one mistake can turn not only your world upside down, but the world of others, team members, investors, and even the entire financial sector.
Brian Hunter's story is a prime example of greed and avarice leading to irreparable consequences, with his mistake leading to the largest hedge fund collapse ever.
To understand the nature of what happened, I suggest reading the history of what happened more carefully.
Raymond Dalio – The Side Job That Changed His Life
Raymond Dalio is one of the richest people in the world, ranked 60th on the Forbes list.
Raymond Dalio earned his place in the sun thanks to his largest hedge fund, Bridgewater Associates, which, in terms of profitability, earned $500 million in 2015, surpassed the fund of George Soros himself.
Raymond Dalio's current net worth, according to his financial disclosures, is $15.6 billion, while Bridgewater Associates' investment portfolio is worth $154 billion.
In the stock market world, he's known as Ray, and believe me, his success story will surprise even the most jaded critics.
Raymond Dalio was born in 1949 in the historic Jackson Heights neighborhood of New York City. His family was far from poor, but neither was they particularly wealthy. Ray's mother was an ordinary housewife who looked after the house and children, and his father was a popular jazz musician by local standards.
Nick Leeson is the greatest antihero of the century
When studying the stories of successful people, it is very important not only to absorb the spirit of the winner, but also to study the mistakes that,
in one way or another, could have changed the lives of these people.
Nick Leeson's story is a prime example of how simple greed and fear can lead to irreparable consequences. This isn't just a typical bankruptcy story, but a national problem that has seen many UK savers say goodbye to their savings forever.
Nick Leeson was born in 1967 in the secluded town of Watford. His family was quite ordinary and lacked any financial advantages, as his father, the main breadwinner, worked as a simple plasterer.
In fact, it was his father who hatched plans to improve Nick's future and wanted to make his son a builder, or more precisely, an engineer.
However, from a very young age, Nick envisioned himself as a financier, handling large amounts of capital. Interestingly, despite his finance-related dreams, he struggled with mathematics, regularly failing various tests.
Nicolas Darvas: A Renowned Dancer's Journey to Wall Street Recognition
Nicolas Darvas is a prime example of a self-taught individual who managed to cement his name in the history
of the stock market. He is the author of five renowned books , all of which have been translated into Russian.
Anyone who has read his personal books can certainly say that there is no boring or incomprehensible terminology there, and all the information about his success and achievements is an autobiography that is read in one breath.
However, Darvas is famous not for his books, but for his astonishing stock trading results, which few can boast. The story of Nicolas Darvas's success will be relatable to those traders who strive to achieve success on their own, step by step.
Nicolas Darvas was born in Romania back in 1920. Little is known about his childhood and youth; all that is known is that he graduated from the University of Economics in Bucharest.
Jake Bernstein – The Accidental Millionaire
There are countless success stories of traders, but as practice shows, all of these stories
are connected to the early days of the stock exchange, with its vast trading floors and crowds of stock market players, where each new innovation became a huge breakthrough in the field.
Jake Berstein's personality belongs to a new modern era of stock trading, and everyone will likely recognize themselves in the story of his rise to traderhood. Don't believe me? Then read to the end.
Jake Bernstein was born in Bavaria in 1946. According to Jake's recollections, his family was very poor, had many children, and didn't even have their own home, but constantly rented housing, spending their last money.
At that time, everyone was actively moving to the United States, as it was there that many had opportunities. In 1968, the family first moved to Canada, and then straight to the United States.
Jesse Lauriston Livermore
Jesse Lauriston Livermore's success story is one of the most inspiring and motivating for aspiring
traders.
However, by studying his biography and success story, you will learn about the dark side of the trading world, namely the consequences of abusing luck, how weak players end up, and how trading can affect your life, in both good and bad ways.
Jesse Lauriston Livermore was born into an ordinary family of farmers in 1877 in the town of Shrewsbury, Massachusetts.
Realizing that the same fate awaits him and that the next person in the family who will look after this farm will naturally be Jesse, thoughts of running away from home begin to creep in from an early age.
Edward Lampert – $15 billion in the hands of one fund
Edward Lampert is one of the best modern managers, currently
worth over $15 billion. Lampert possesses a unique mindset and insight, and his life's work has been compared to that of such a remarkable figure as Warren Buffett.
Both investors, already 25 years old, have reached unprecedented heights, and they approach the investment process as a business, participating in the fate and management of the company, rather than from a speculative perspective.
Edward Lampert was born in 1962 in the small town of Roslyn, New York.
Edward's family was practically well off, as his father worked as a lawyer in New York City and his mother was raising two children.
Bill Gross: From Gambling to the First Billion
Bill Gross's success story perfectly demonstrates to all of humanity how, without any connections or financial
resources, a person with his desire for success can conquer even the most unprecedented heights.
Many analysts and journalists put Bill Gross and Warren Buffett on the same level, as their capital and outstanding investing abilities have written themselves into the history of the stock market in huge letters.
The only fundamental difference between these two investors is that Bill Gross is considered the king of bonds, while Buffett is considered the king of stocks. Both their funds are still in existence and generating profits for their investors.
The future king of the bond market was born in 1944 in the state of Ohio in the town of Middletown.
His family was very ordinary and in terms of wealth was no different from other average families in the city, since his father was an ordinary manager in a steel company, and his mother was an ordinary housewife.
