Most of the financial traders are building their careers in silence, but there are a few that have become popular among others. Their stories are full of hard work, dedication, and patience. They are people with the power of influence, whose moves had an impact on the whole industry. Let’s take a closer look at 5 most famous traders of all time.
Bruce Kovner was born in 1945 in Brooklyn, New York. He was not a typical “wonder-baby”, as he made his first trade at the age of 32. His first purchase of soybean future contracts has brought him $20,000 profit. As his success began, he put his interests into hedge funds.
His style is described as smart and brave, and his Forex trading strategies are always up-to-date. Kovner is a founder of Caxton Associates (he started it I 1982), which is now in the top 10 most successful hedge funds in the world. His company income is estimated for $14 billion, and Kovner’s fortune is said to be around $4.5 billion. He retired from the trading world in 2011.
Bill Lipschutz is an American full-time foreign exchange trader. For the bigger audience, he is known for making more than $300 million in a year, only from trading on the Forex market.
He has a B.A. degree in Cornell College in Fine Arts, as well as a Master degree in Finance. Next to his duties connected with the university, he was always keen on stock and Forex market. Lipschutz started trading already in his college times and successfully turned $12,000 investment into $250,000. This operation made him one of the best traders on Forex.
During his career, he experienced a big loss. Due to one bad trading decision he lost his entire capital. After this event, he gave more notice to risk management, which he carried on throughout his further career.
Lipschutz is a co-founder and director of the Portfolio Management in Hathersage Capital Management.
Andrew Krieger, a graduate of the famous Wharton Business School at the University of Pennsylvania, is a successful trader, known for his interest in New Zealand currency (NZD). He left his position at Solomon Brothers and in 1986 joined Banker’s Trust. He immediately became a worthy employee, which rewarded him in higher capital limits ($700 million instead of standard $50 million!). His position allowed him to even gain profit from the Black Monday crash in 1987.
After earning $300 million in selling the New Zealand currency, Andrew Krieger became famous in the trading field. In 1988 he started working for Soros Management Fund and later changed it to Northbridge Capital Management. He is also known for his philanthropic work – after the tsunami in 2004, he donated $350,000 for the victims.
Stanley Druckenmiller from Philadelphia started his financial career in 1977 at a position of management trainee in Pittsburgh bank. After a quick success, in 1981 he started his own company, Duquesne Capital Management. Later he was managing capital for George Soros for a few years. His best career years happened while he was working as portfolio manager for the Quantum Fund between 1988 and 2000.
In 2000 Druckenmiller returned to Duquesne and at the moment works there full time. He also started a non-profit organization that helps to educate people at all ages. In 2010 he closed his hedge fund and declared being worn down by the constant pursuit of success.
George Soros – the best trader in the world
Last, but definitely not least – George Soros. Soros was born in 1930 and began his financial career at Singer and Friedlander in London at the age of 24. He graduated the London School of Economics and after that became a legend of the financial industry. His most successful trade gave earned him a profit of $1 billion in a single day.
Soros is the author of many books about investing and finances. He actively works in the philanthropic area, he donated more than $7 billion for various organizations.
In 1970 he established the Soros Fund Management, which in the last few decades generated more than $40 billion in profits. Soros is currently one of the thirty wealthiest individuals in the world, as well as “the king of Forex trading”. Stanley Druckenmiller and Andy Krieger used to work for him, and this experience let them become excellent traders as well. To most of the financial trades, he is the biggest inspiration to follow.
We hope that this article has been inspirational for you to go ahead and start your path as a trader. It makes perfect sense to get started on a practice account with a virtual balance before you commit your own money to trading. This is why the choice of a broker should be a supreme importance. At FXEmpire you can check the ratings of the most trusted FX brokers, be sure to pick up at least one from the mentioned list. Also, it is recommended to check the reviews and try out some of the best Forex brokers before you make a final selection of a broker. Keep in mind that FX trading is risky and there are many scams out there, hence, be extra cautious about the choice of a company where you will be depositing.