George Soros, Jesse Livermore and Steven Cohen are names that are synonymous in the financial world. They are probably the best traders that have ever existed. Others Include the Oracle of Omaha Mr Warren Buffet, Benjamin Graham among from whom traders gain inspiration and look forward to outsmart. One interesting thing I have learnt in my interaction with financials is the art of reading if one is to stay relevant and on top of their game. The other is having clarity of the mind.
In the course of my reading, on these industry greats, I have been tracking down some of the values and investing clues that some of the best traders/investors of all time have used. Below are a few I believe will be very helpful.
George Soros: Short-Term Speculation
George Soros is what you call a self-styled short-term speculator. Before closing his hedge fund, he mainly dealt in currencies and bonds. George Soros is famed for short selling the British Pound and amassing $ 1 Billion Dollars in the process. Soros short positioned 10 billion worth of pound sterling and forcing the U.K. to withdraw from the European Exchange Rate Mechanism (ERM). This trade nearly ran the Bank of England Broke.
More on George Soros Here
Benjamin Graham: Value Investing
Benjamin Graham is the man who taught Warren Buffet how to invest. I read through to page 300 of his book “The Intelligent Investor” and the lessons learnt ran through. The lessons of Graham are seen today by fundamental analysis and value investing by most investors. A summary of Graham’s investing lessons are buying stocks trading below book value as they pose lesser risks. Graham spent most of his days at Columbia University grooming one of the World’s greatest investors Warren Buffet.
Warren Buffet: Value Investing
Warren Buffets style of investment is largely influenced by Benjamin Graham’s style of investing. Buffet’s style recommends that investors stick to businesses that they understands. According to him great businesses possess simplicity, predictability and high returns.
Learn interesting things about Warren Here
Jesse Livermore: Speculation
One cannot talk about trading without mentioning Jesee Livermore taunted as the world’s most successful trader. According to jesselivermore.com, he correctly predicted the 1907 and 1929 stock market crashes as well as the Great Depression. Livermore made his fortune with no hedge fund backing ,derivative instruments or even educational resources. Reminiscences of a Stock Operator is a book that details his life and career as a speculator. Despite losing most of his fortune by the time of his death, Livermore is a legend in trading majorly due to his clarity of mind and ability to correctly cash in on big happenings on the economy. World’s Greatest Stock Trader
What investing style works for you?
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