Jack Schwager on traders and money
Market Wizards author Jack Schwager explains that for the best traders, it's never about the money. He says they eventually ask themselves, 'Do I really want to do this for the rest of my life?' but it's never the money driving them. 'After you make $100M, what's the point right? It's not the money.
Transcripción (en)
You interview some guys that have extraordinary returns. And it's like, why are you still going? You made $100 million, $250 million, a billion. Why are they still going? Why are you still going after? And that's a great question. And in fact, in this book, some of these people who have made $100 million or several hundred million or whatever are actually questioning that. they're actually you know uh one uh um is kind of struggles with that question of uh wanting to quit and certainly paring down this trading uh in fact and two of them are at that stage where they've sort of wanted to quit but are still trading up they can't give it up totally uh but but do wanna, they've moved on to do other things and do recognize that, hey, is this what I, do I really wanna do this for the rest of my life full time? And so that question does occur to people. It's never the money. I mean, once you get, certainly once you get beyond a hundred billion, what's the point, right? It's not the money.
