Hall of Glory - Portraits of Famous Traders and Investors
Becoming a Consistently Profitable Trader takes...
Time, Devotion, Dedication & Discipline
01
**Education and Continuous Learning**:
Start by educating yourself about financial markets, investment principles, and trading strategies. This could involve reading books, attending seminars, taking courses, and staying updated on market trends and news. Keep learning and adapting as the markets evolve.
02
**Developing a Strategy**:
Create a well-defined trading or investment strategy based on your financial goals, risk tolerance, and time horizon. Whether you're a day trader, swing trader, or long-term investor, having a clear plan helps you stay focused and disciplined.
05
**Risk Capital**:
Only trade or invest with money you can afford to lose. Avoid risking money that you need for essential expenses or that you're not willing to lose. Having a sufficient risk capital buffer allows you to withstand market fluctuations and avoid making emotional decisions.
06
**Adaptability**:
Markets are constantly changing, so it's essential to remain adaptable and open to adjusting your strategy as needed. Be willing to learn from your mistakes, reassess your assumptions, and adapt to new market conditions.
10
**Analytical Skills**:
Develop strong analytical skills to assess market trends, company fundamentals, technical indicators, and macroeconomic factors that may impact your investments. This involves conducting thorough research and analysis before making trading decisions.
03
**Risk Management**:
Understand the importance of managing risk in trading and investing. This involves setting risk limits, diversifying your portfolio, and using techniques such as stop-loss orders to protect your capital from significant losses.
04
**Emotional Control**:
Emotions such as fear and greed can cloud judgment and lead to impulsive decisions. Successful traders and investors learn to control their emotions and stick to their predetermined strategies, even during times of market volatility.
07
**Network and Mentorship**:
Surround yourself with experienced traders and investors who can offer guidance, support, and mentorship. Networking with others in the trading and investing community can provide valuable insights and help you stay motivated on your journey.
08
**Long-Term Mindset**:
While it's tempting to focus on short-term gains, successful traders and investors often have a long-term perspective. They understand the power of compounding returns and the importance of staying invested through market cycles to achieve their financial goals.
09
**Patience and Discipline**:
Successful trading and investing require patience and discipline. Avoid chasing quick profits or trying to time the market. Stick to your strategy, be consistent in your approach, and don't let short-term fluctuations deter you from your long-term goals.
The Hall of Glory stands as a majestic chamber, adorned with grandeur and symbolism, where history and legend intertwine. At its heart rests a row of resplendent thrones, each bearing the weight of kings and queens who have left their indelible mark on the realm. Carved with intricate designs and embellished with precious metals, these thrones serve as monuments to power and authority.
Above them, suspended like gleaming constellations, hang the noble blades of legendary warriors and valiant defenders. Each sword tells a tale of bravery and sacrifice, passed down through generations as a testament to honor and valor.
And presiding over this tableau of regal splendor is the sovereign, seated upon a throne of unmatched magnificence. Crowned with jewels and draped in regal attire, the king or queen commands respect and admiration, embodying the essence of leadership and majesty.
In the Hall of Glory, echoes of triumph and heroism resonate through the ages, inspiring all who enter to aspire to greatness and leave their own legacy upon the annals of history.
Getting into the Hall of Glory is quite hard, below are some traders however, some of the most well-known and respected traders historically have included:
1. George Soros: Known for his speculative trades and famous for "breaking the Bank of England" by short selling the British pound in 1992.
2. Paul Tudor Jones: Renowned for his macro trading strategies and predicting the 1987 stock market crash.
3. John Paulson: Gained fame for his successful bets against subprime mortgages during the 2007-2008 financial crisis.
4. Ray Dalio: Founder of Bridgewater Associates, one of the world's largest hedge funds, known for his principles-based investing approach.
5. James Simons: Founder of Renaissance Technologies, a quantitative hedge fund known for its pioneering use of mathematical and statistical methods in trading.
These traders have left a significant mark on the financial industry through their successful trades, innovative strategies, and lasting influence.
Align Your Lifestyle to Your Financial Goals
Debt Repayment, Retirement Savings, Investment Portfolio Growth
Warren Edward Buffet
20 most famous quotes from Investment Master Warren Buffett:
1. "Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1."
2. "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently."
3. "Price is what you pay. Value is what you get."
4. "The stock market is designed to transfer money from the active to the patient."
5. "Risk comes from not knowing what you're doing."
6. "The best investment you can make is in yourself."
7. "Someone's sitting in the shade today because someone planted a tree a long time ago."
8. "It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price."
9. "You only have to do a very few things right in your life so long as you don't do too many things wrong."
10. "The most important investment you can make is in yourself."
11. "Predicting rain doesn't count. Building arks does."
12. "Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."
13. "Time is the friend of the wonderful business, the enemy of the mediocre."
14. "Diversification is protection against ignorance. It makes little sense if you know what you are doing."
15. "In the business world, the rearview mirror is always clearer than the windshield."
16. "The difference between successful people and really successful people is that really successful people say no to almost everything."
17. "Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful."
18. "Never depend on a single income. Make investment to create a second source."
19. "The investor of today does not profit from yesterday's growth."
20. "Chains of habit are too light to be felt until they are too heavy to be broken."
These quotes capture Warren Buffett's wisdom, philosophy, and approach to investing and life.
Warren Edward Buffett,
an American businessman, investor, and philanthropist
Warren Buffett, alongside Barack Obama at the White House in July 2011, is celebrated for his advocacy of Value Investing and his unparalleled mastery of Benjamin Graham's principles elucidated in Security Analysis and The Intelligent Investor. While deeply influenced by luminaries like Philip Fisher, Buffett ardently opposes the Efficient Market Hypothesis and Modern Portfolio Theory.
Despite his company's modest dividend policies, Buffett underscores the importance of robust and escalating dividends in his investment strategy, a hallmark of Berkshire Hathaway's enduring success. Central to his investment philosophy is the concept of "margin of safety," wherein investors ascertain a security's intrinsic value and compare it to prevailing market prices. This determination draws heavily from Graham's quantitative criteria such as company liquidation value, P/E ratio, and historical earnings, yet Buffett's approach integrates qualitative assessments championed by Fisher and Munger.
Buffett's investment acumen, grounded in Graham's teachings, emphasizes acquiring businesses at favorable valuations. His unwavering belief in the principles of Graham is exemplified in his essay "The Superinvestors of Graham-and-Doddsville," where he extols investors who have profited by adhering to these principles. Buffett's strategy prioritizes subjective evaluations alongside objective metrics, as seen in his willingness to pay premiums for businesses he deems exceptional, like See's Candies, while affording significant autonomy to company leaders.
In his investment philosophy, Buffett advocates for a deep understanding of invested businesses, shunning complex industries beyond his comprehension. He eschews short-term speculation, urging investors to view themselves as long-term participants in businesses rather than mere speculators. According to Buffett, market fluctuations should not deter disciplined investors who adhere to the "margin of safety" principle, with the ideal investment horizon extending indefinitely. Ultimately, Buffett distills his investment ethos into four fundamental criteria: understanding the business, evaluating long-term prospects, assessing managerial competence, and identifying attractive valuations.
Jeremy Grantham
Here are ten famous quotes attributed to Jeremy Grantham, highlighting his insights on investing, market bubbles, and environmental issues:
1. **"Reversion to the mean is the iron rule of the financial markets."**
- Grantham frequently emphasizes the importance of mean reversion in predicting market behavior.
2. **"Be patient and be contrarian. It’s not easy, but it works."**
- Grantham advises investors to adopt a contrarian mindset and remain patient for long-term success.
3. **"The Fed has spent most of the last 15 years under Alan Greenspan and Ben Bernanke in an unconscious conspiracy to keep asset prices up."**
- He criticizes the Federal Reserve's policies for artificially inflating asset prices.
4. **"The trouble with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak."**
- Grantham acknowledges the difficulty of timing the market and dealing with bubbles.
5. **"We have found that there are no exceptions. We are up to 34 completed bubbles. Every single one of them has broken all the way back to the trend that existed prior to the bubble forming."**
- He underscores the inevitability of market bubbles bursting and reverting to historical trends.
6. **"Investing isn’t about beating others at their game. It’s about controlling yourself at your own game."**
- Grantham highlights the importance of self-discipline in investing.
7. **"We live on a finite planet and have finite resources, and that is why we will inevitably run out of resources, such as fossil fuels."**
- He expresses concern over the sustainability of current resource consumption.
8. **"The long term is not where we live. But it is a way to live, and investing for the long term is the key to success."**
- Grantham emphasizes the value of long-term thinking in investment strategies.
9. **"It is better to acknowledge the risks, embrace them, and put safeguards in place, rather than pretending they do not exist."**
- He advocates for acknowledging and managing risks rather than ignoring them.
10. **"We are in a global market. The economy is incredibly complex, and one has to constantly evaluate and re-evaluate the fundamentals."**
- Grantham highlights the need for continuous analysis and adaptation in the ever-changing global market.
These quotes reflect Grantham's deep understanding of market dynamics, his contrarian investment philosophy, and his concerns about environmental sustainability.
Jeremy Grantham
- Legendary Investor and Philantropist
Jeremy Grantham is a British investor and the co-founder of GMO LLC. Born on October 6, 1938, he grew up in Doncaster, England. He studied economics at the University of Sheffield and earned an MBA from Harvard Business School in 1966.
Grantham is famous for his belief in "reversion to the mean." This means he thinks asset prices will return to their historical averages over time. His investment firm, GMO, uses this approach to guide its decisions. Grantham is known for spotting market bubbles before they burst. He avoided Japanese stocks in the 1980s, tech stocks in the 1990s, and the housing market before the 2008 crash.
He has been critical of government responses to financial crises, particularly from 2007 to 2010. Grantham believes that energy costs have been falsely inflating economic growth. He opposes projects like the Keystone Pipeline due to their environmental impact. He supports green technologies and views them as profitable in the long run.
In 1997, Grantham and his wife Hannelore founded the Grantham Foundation for the Protection of the Environment. The foundation supports climate change research and has donated millions to various environmental causes. In 2019, Grantham pledged 98% of his wealth, about $1 billion, to fight climate change.
Grantham has received many honors, including honorary degrees and the Carnegie Medal for Philanthropy. In 2016, he was appointed Commander of the Order of the British Empire for his service to climate change research.
Paul Tudor Jones II
Paul Tudor Jones is known for his insights into trading and investment. While he may not have as many widely circulated quotes as some other figures, here are some notable ones attributed to him:
1. "At the end of the day, the most important thing is how good are you at risk control."
2. "The most important rule of trading is to play great defense, not great offense."
3. "I don't think there is anything unique about human intelligence. All the neurons in the brain that make up perceptions and emotions operate in a binary fashion."
4. "The secret to being successful from a trading perspective is to have an indefatigable and an undying and unquenchable thirst for information and knowledge."
5. "The most important thing for me is that risk management is the most important thing in trading."
6. "You always want to be with whatever the predominant trend is."
7. "If I have positions going against me, I get right out; if they are going for me, I keep them... Risk control is the most important thing in trading."
8. "Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead."
9. "If you can't take a small loss, sooner or later you will take the mother of all losses."
10. "Where you want to be is always in control, never wishing, always trading, and always, first and foremost, protecting your ass."
11. "Trading is a psychological game. Most people think that they’re playing against the market, but the market doesn’t care. You’re really playing against yourself."
12. "The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong."
13. "It's all about discipline. I make 20% on winners and 20% on losers. That’s how I make money."
14. "I look for opportunities with tremendously skewed reward-risk opportunities. Don’t ever let them get into your pocket - that means there’s no reason to leverage substantially. There’s no reason to take substantial amounts of financial risk ever, because you should always be able to find something where you can skew the reward risk relationship so greatly in your favor that you can take a variety of small investments with great reward risk opportunities that should give you minimum draw down pain and maximum upside opportunities."
15. "I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have."
16. "Don't focus on making money; focus on protecting what you have."
17. "It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong."
18. "Losers average losers."
19. "You have to learn to lose, it's more important than to win."
20. "I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms."
Paul Tudor Jones II,
an American businessman, investor, and philanthropist
Paul Tudor Jones II, born on September 28, 1954, is an esteemed American hedge fund manager, conservation advocate, and philanthropist. In 1980, he founded Tudor Investment Corporation, a prominent hedge fund headquartered in Stamford, Connecticut. Moreover, Jones spearheaded the establishment of the Robin Hood Foundation in 1988, dedicated to combating poverty. As of April 2022, his wealth is estimated at a staggering US$7.3 billion.
Jones hails from Memphis, Tennessee, born into a family deeply entrenched in the realm of publishing. His father, John Paul "Jack" Jones, not only practiced law in transportation but also served as the publisher of The Daily News, a longstanding family-owned periodical. Jones received his early education at Presbyterian Day School and Memphis University School before matriculating at the University of Virginia. There, he distinguished himself in pugilism and assumed the presidency of the Sigma Alpha Epsilon fraternity. To finance his academic pursuits, Jones contributed to his family's newspaper under the pseudonym Paul Eagle, ultimately culminating in the attainment of a bachelor's degree in economics in 1976.
Jones embarked on his professional journey in 1976, seeking counsel from his cousin, William Dunavant Jr., the CEO of Dunavant Enterprises, a prominent cotton trading entity. Dunavant facilitated Jones' introduction to Eli Tullis, a notable commodity broker, who served as his mentor in the intricacies of trading cotton futures at the New York Cotton Exchange. Subsequent to a brief tenure at E. F. Hutton & Co., Jones ventured to establish Tudor Investment Corporation in 1980.
Jones' illustrious firm oversees assets totaling $12 billion (as of 2022) and offers an array of investment strategies encompassing global macro trading, fundamental equity investments, ventures in emerging markets, venture capital endeavors, commodities trading, event-driven strategies, and technical trading systems. The Tudor Group, comprising Tudor Investment Corporation and its affiliates, is deeply entrenched in active trading, investment endeavors, and robust research across a diverse spectrum of asset classes, catering to an esteemed international clientele.
Jones earned acclaim for his prescient forecast of the Black Monday crash in 1987, amassing substantial profits through astute short positions. His firm's returns soared to 125.9 percent after accounting for fees during this historic event, tallying an estimated $100 million. Peter Borish, Jones' astute second-in-command, contributed significantly to this feat through meticulous analysis of historical market data.
Jones' entrepreneurial odyssey underscores his strategic acumen and innovative approach to investment management, firmly establishing him as a preeminent luminary within the financial sphere.