The Importance of Timing

He lost 20 million dollars on his first futures trade. He eventually sold his banks, got some more cash and then ended up going in the stock market because it was a lot easier to manage. By the time he had lost that money, I was trading on my own and understood that he was not the personality type that I certainly wanted to carry over. The reason I got really interested in, in the markets was not so much that he had made $100 million. It was because I was in the oil and gas business. That's the core lesson I came away from.

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