STREET DOGS
Edward Thorp's advice for traders
Michel Pireu: Some views on investing and some advice on trading from Edward Thorp
Edward Thorp is a well-known figure on Wall Street. He has spent time as a mathematics professor, hedge fund manager, blackjack player and author. Marketfy’s Tim Melvin recently caught up with him to discuss his outlook on investing. "As an individual trader is it worth the extra effort to try to beat the market today?" asked Melvin. "That depends on the person," replied Thorp. "I think to myself, ‘Gee, if I were 25 and I got interested in this, what would I do?’ And I’m not sure, but from what I know now, I’d say the Warren Buffett way is a good way if you want to put your whole life into it. I’d probably decide not to want to put my whole life into it. "So I would say if you wanted to get really rich and you wanted to trade your whole life for getting really rich, a trade I don’t necessarily recommend, then I’d say that’s the way to go. But if you just want to make lesser amounts of money, I don’t know what to tell a person at this point because you can do so well knowing nothing ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.