The first billion is the hardest

T. Boone Pickens and his reflections of a life of comebacks is interesting in the sense that outsiders to the game of trading may be able to grasp one thing: you only need one or two big trades to change your life. Trading everyday may not produce anything other than trades, while when luck is with you and you press, fortunes can be made. Without big trades, there is no life changing stimulation… although there are other interesting business and personal concerns discussed in the book, a few very large trades going your way makes all the difference. Of course, the aspect of generating huge profits is based on turning over your inflated holdings while they are still inflated, whatever they may be. When you’ve accumulated a fortune from a few large trades the difference is you don’t need to trade or risk again in that same way because you no longer have to risk everything, and when you lose, what does it matter when you have an abundance of resources.

Leave a Reply

You must be logged in to post a comment.