Financial Trading Quotes

You're already a financial trader. You might not think of it in just this way, but if you work for a living, you're trading your time for money. Frankly, it's just about the worst trade you can make. Why? You can always get more money, but you can't get more time.

I used to do a lot of the day trading and the stocks. I used to have the Ameritrade and trade options.

Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.

Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.

That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do.

Mr. Soros, the chairman of Soros Fund Management, is best-known as a speculator, philanthropist and political activist. He made a fortune by doing things such as betting against Britain's currency in 1992 and Thailand's in 1997. A Hungarian refugee, he has spent millions to promote democracy and learning in post-Soviet nations.

Most languages spoken by a few thousand people are so complicated they make your head swim; a Siberian yak herder's language is much more complicated than a Manhattan bond trader's.

Ironically, the original Detroit Stock Exchange once sat less than a thousand feet from StockX headquarters here in downtown Detroit. It is only fitting that we are going to build the next iteration of the world's most efficient market invention almost in the same spot.

One day I visited a guy who had made a fortune as a broker. He was sitting in his office with his computer. I hire people from here and make deals from this room, he told me. Then he took me to the trading room. Nobody was talking to anybody else, the place was silent as a tomb, they were all sitting there watching their terminals - a great word, terminal. I tell you, it scares the crap out of me.

I've never actually been a collector. I like the learning-curve, but I buy things, sell them to finance other things.

I was a trader for a company. That's different from the brokers who we sort of disdain as sort of just errand boys.

I'm not short, so I can make a speech and drive the stock down and cover the stock. That's not what I do.

You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.