Wall Street legend Richard Dennis conducted an intellectual experiment that turned 23 novice investors into overnight millionaires. Here are the 6 trading rules and philosophies that his 'turtle traders' live by.
Dennis' uncanny ability to make money quickly earned him the moniker"Prince of the Pit." In 1986, he'd made $80 million, cementing his legendary status alongside Soros, who made $100 million, and then junk bond king Michael Milken, who also raked in $80 million that year.
In 1983 and 1984, in order to settle their decade-long nature-versus-nurture debate, Dennis put out ads in the Wall Street Journal and other financial press looking for trainees who would not only get to trade his money but also learn his proprietary trading strategies. To avid job seekers, the opportunity seemed too good to be true, especially because it said prior trading experience is not necessary.
It is the kind of trading strategy that"would have made investors like Warren Buffett cringe." There would be no fundamental analysis, buying low and selling high, or acting on news and economic reports. 3. If the turtles lose money in a market, they had to move on. Accepting and managing losses are part of their game.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Kyle Richards shares scary video aftermath of her walking into a beehive that led to hospitalization'Real Housewives of Beverly Hills' star Kyle Richards is recovering after suffering an allergic reaction from multiple bee stings at her home.
Consulte Mais informação »
PerkinElmer stock slips after $5.25 billion cash and stock deal to buy BioLegendShares of PerkinElmer Inc. undefined fell 1.3% in premarket trading Monday, after the diagnostics, life science and food company announced an agreement to...
Consulte Mais informação »
Ben Miller talks returning to Death in Paradise ahead of season 11Ben Miller played Richard Poole in the hit show - and returned back in season ten
Consulte Mais informação »
Prince Harry's cousin Lady Amelia Windsor's boho living room is a riot of colourLady Amelia Windsor shared a photo inside the colourful living room she shares with her sister Lady Marina at their London flat.
Consulte Mais informação »
Kyle Richards Walked Into a 'Hive of Bees' But She Is Doing Fine NowShe's allergic to bees, she hates bees, and she survived!
Consulte Mais informação »
Kyle Richards Hospitalized After Bee Attack at Home, Posts VideoThe 'RHOBH' star had to act fast to get away from these bees.
Consulte Mais informação »