Millionaire Traders

JWBK169-Lien July 3, 2007 13:56

Millionaire Traders

Q: One of the things we found interesting with many of our

interviews is that most people developed an interest in trading

from high school or earlier. Was that the case with you?

A: I always had an outside interest in stocks. But I was a premed

major so I came into it a little later in life. My dad was always into

it, but not into trading, more like retirement stuff.

Q: Was he a casual investor?

A: Yeah, my mom too. But we always had—I don’t want to say a

gambling background—but an interest in gambling.

My mom especially. She liked blackjack. Games of chance like

that. My brother too. He is professional poker player now. We had

a heavy sports background in our house, watching sports, playing

sports, and so on.

Q: And handicapping sports too?

A: Yeah, handicapping sports too.

Q: Did you do any trading while in college?

A: No, not really. I got into it later when I got a job as clerk

at the Merc. [Author’s note:TheMercis the Chicago Mercantile

Exchange. Aclerkis the go-between for the customers of big wire

houses and the pit. He or she updates the market for the customers

and helps facilitate trades for those customers in the pit.] I was in

the Nikkei pits, Nasdaq pits, and the SP pits. This was during the

Internet stock craze. So I decided to try it out. I had a friend who

was successful trader, so he backed me.

Q: Did you go off the floor when he first staked you?

A: Yes, I traded stocks off the floor.