Speculators who conquered the world market
Speculation can bring fabulous fees for those who know how to trade correctly and know market trends. In this article I would like to mention people who have been able to make a decent living just by speculating.
George Soros
So the list is headed by George Soros. This name is known to many people, and Soros is associated with speculation like no other. After all, he was the one who "broke" the Bank of England in 1992. September 16 went down in history as "black Wednesday," as on that day, the Bank of England collapsed, and Quantum Fund seized $2 billion, which were the reserves of the Bank of England. But in addition to this and other brilliant successes in speculation, George Soros had his failures. One of his biggest mistakes was buying a blocking stake in Russian Svyazinvest in May 1997 for $1.8 billion. After the 1998 financial crisis, its value fluctuated between $300 million and $800 million. On October 7, 1998, Soros lost about $380 million (or 4 % of Quantum Fund assets) when the U.S. dollar fell against the yen to its highest value in 25 years. He also lost some money when the ruble devalued in August 1998. But one way or another, George Soros remains
one of the world's most famous and wealthy personalities. He does not recognize technical indicators and the special news channels of publicly known consulting agencies on Wall Street. He gets all the news from the morning papers and makes decisions based on his own vision and intuition.
Jim Rogers
Next on the list is Jim Rogers. One of the famous financiers, he was Soros' partner in the Quantum Fund. His first successes in speculation were made together with him. But soon Rogers decided to start investing on his own, where he was seriously successful, judging by the results. In 10 years of trading, he made 4000% returns on his investment portfolio against 50% gains in the Standard & Poor's 500 Index and retired from the investment hedge fund business at age 37. Even today, Rogers continues to invest in stocks based solely on his experience. For example, he now plays against the U.S. stock market.
Larry Williams
Larry Williams, the most famous trader, is president of Commodity Timing, Inc. The record of trading profitability set by him is still unbroken. In 1987, Larry Williams traded futures on bonds and S&P500 index with the starting capital of $10000 in the prestigious Robbins World Cup traders' contest. He made $1,147,000 of profit during one year of trading, getting $1,1000% p.a. on invested capital. We must also take into account the fact that 1987 was considered the year of the stock markets crash, and if the Dow Jones index had not fallen by 23% on October 19, Larry would have earned over $2 million. A success not yet achieved by anyone else. Currently, Larry writes articles for very famous newspapers, agencies, leads seminars where he teaches trading in the markets, but he doesn't stop trading himself either, keeping in shape. Although, for him, trading doesn't really matter anymore.
Richard Dennis
Richard Dennis is a speculator who is known as the "King of Futures. After graduating from school, he was determined to work in the stock market. Very quickly he gained a reputation as a successful trader on the futures market. Soon he earned his first million (at the age of 25). The Drexel Fund he founded was among the most stable and fast-growing funds for many years. Richard has been called "the king of futures."because futures prices were starting to rise just from the mere rumor that "Dennis had his eye on this commodity. But the truth is, in 1987 there was a major setback, and he lost a lot of money, both his own and his clients' money. Being depressed, he closed the Drexel Fund, and left the world of finance for six years. But later he came back and started earning, using mechanical trading systems. According to Richard Dennis, he is no longer a trader, but rather a researcher. He is constantly researching to determine how he can further tweak his system and create new ways to adapt to the changes constantly occurring in the market.
In 2000, Dennis had about $300,000,000 in capital, but for unknown reasons he lost 37% of that amount. But despite this, Richard Dennis will go down in history as a great trader. He managed clients' money for over 20 years, with an average return on his transactions of 27%. He proved that a man can learn to trade successfully.