A significant number of outstanding ex-traders have changed their profession such as New Zealand PM John Key and Wikipedia’s founder Jimmy Wales. However, The Top 10 Best Traders in the World are legendary exclusively for the trading that they have done. As traders, their dreams and mildly distorted real-life stories of happiness and sorrow have almost reached the realm of legends.
Table of Contents
Here’s the List of Top 10 Best Traders:
1. Jesse Livermore
Jesse Lauriston Livermore (1877–1940) was an American trader and speculator who was characterized by large gains and large losses. He is well known for his activities when the shares collapsed in 1929; he made $100 million from short selling. However, he doomed his fortunes and by 1934 he was bankrupt and in 1940 he committed suicide.
Quote: Nothing new ever occurs in the business of speculating or investing in securities and commodities.
2. William Delbert Gann
W. D. Gann was a trader of origin 1878 – 1955 who had developed various systems of market forecasting using such factors as geometry, astrology and ancient mathematics. Some of his technical gadgets were Gann angles, Gann fans, and the square of 99. Gann also wrote several books as well as carrying courses in trading. He preferred the Bible as his book and the most important learning aid.
Quote: Charts are the only guide we have of what stocks have done and by which we may determine what they will do
3. George Soros
George Soros is one of the most well-known traders still trading and extremely rich as of the 2023 fiscal year’s net worth of $6 zillion. 7 billion. The man is also a survivor of the holocaust and a well-known philanthropist and business tycoon.
Quote: Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
4. Jim Rogers
James Rogers Jr Born in 1942 is also a chairman of Rogers Holding. He set up the Quantum Fund with George Soros in the early seventies and the firm earned an astounding 4, 200 per cent over a decade. Rogers was also in the United States Army, from 1966-1968 during the Vietnam War.
Quote: If everyone thinks one way, it is likely to be wrong. If you can figure out that it is wrong, you are likely to make a lot of Money.
5. Richard Dennis
Richard J. Dennis, or the so-called “Prince of the Pit” (born 1949) rapidly found his place in the sphere of commodities trading in Chicago. It is stated that he bought a car using $1,600 and became a 200 millionaire within the next decade.
Quote: Trading decisions should be made as unemotionally as possible.
6. Paul Tudor Jones
Paul Tudor Jones II born in 1954 has made approximately $7. 5 billion as of now as of 2023 it is trading and fully operational. He founded Tudor Investment Corporation, which is among the most prominent hedge funds. Jones made a lot of money about $100 million after he predicted the crash in the market in 1987.
Quote: In the real world, it is not too wise to have your stop where everyone else has their stop.
7. John Paulson
Another post-modern billionaire is John Paulson born in 1955, the head of Paulson & Co. Following shorting the U. S subprime mortgage market, this man made billions in 2007.
Quote: I still think buying a home is the best investment any individual can make.
8. Steven Cohen
Steven Cohen was born in 1956, he is the founder of SAC Capital Advisors it is a highly successful hedge fund firm with a concentration on equities. Disregarding this led to the SAC being charged by the SEC in 2013 with the allegations that the company was involved in insider trading and that they lost a $1. 2 billion fine.
Quote: The way I understand the rules on trading on inside information, it’s very vague.
9. David Tepper
David Tepper (born 1957) is the founder of the rich Appaloosa Management that is the hedge fund. Tepper specialises in buying and investing in distressed debts and consistently follows and appears on CNBC.
Quote: I’m just a regular upper-middle-class guy who happens to be a billionaire.
10. Nick Leeson
Nicholas Leeson, born in 1967 is the precipitant of Barings Bank crises, the UK-based bank which he single-handedly plunged into ruins. Leeson was imprisoned for four years in a Singapore prison but he later became the CEO of the Irish football club- Galway United.
Quote: That’s all the market is, one giant casino.
Frequently Asked Questions (FAQs)
1. Who was Jesse Livermore and what was his most significant trading achievement?
Jesse Livermore, an American trader and speculator, is best known for his extraordinary gains and losses in the stock market. His most significant achievement was making $100 million from short selling during the stock market collapse of 1929. Despite his success, Livermore’s fortunes dwindled, leading to bankruptcy in 1934 and his tragic suicide in 1940.
2. What unique methods did W.D. Gann use for market forecasting?
W.D. Gann was known for his unique market forecasting methods, which included using geometry, astrology, and ancient mathematics. He developed various technical tools, such as Gann angles, Gann fans, and the square of 9.
3. How did George Soros become a legendary trader?
George Soros is renowned for his successful trading career and immense wealth, with a net worth of approximately $6.7 billion as of 2023. He is a Holocaust survivor, philanthropist, and business tycoon. Soros gained fame for his role in setting up the Quantum Fund and for his notable prediction and profit from the 1992 Black Wednesday UK currency crisis, earning him the title “The Man Who Broke the Bank of England.”
4. What notable achievements and career path did Jim Rogers follow?
Jim Rogers, born in 1942, co-founded the Quantum Fund with George Soros in the early 1970s, achieving a remarkable 4,200% return over a decade. He also served in the United States Army during the Vietnam War from 1966-1968. Rogers is the chairman of Rogers Holdings and is well known for his insightful commentary on global markets and commodities.
5. What was the significant trading scandal involving Nick Leeson?
Nick Leeson, born in 1967, is infamous for his role in the Barings Bank crisis. As a trader, Leeson made unauthorized speculative trades that ultimately led to the collapse of Barings Bank, a prestigious UK-based financial institution. His actions resulted in a prison sentence of four years in Singapore.
