My 2 cents on get rich quick strategies from Morgan Housel

I came across this from Housel’s Psychology of Money. This quote might be valuable for relatively new investors or those that mention strategies that go bust: “But good investing isn’t necessarily about earning the highest returns, because the highest returns tend to be one-off hits that can’t be repeated. It’s about earning pretty good returns that you can stick with and which can be repeated for the longest period of time.”


Trading has nothing to do with investing.

Trading is about profiting from price fluctuations. up or down. sometimes in the same day.

Investing is something else.

Thank you for your input. Great you’re a dedicated trader but many new people are not. They’re just looking to make money.
FYi I placed second in the US Trading Championship (Option Writing Division 1987.


The problem with all these Trading Championships is that the only thing that counts is the return on investment, the drawdown is completely neglected.

I entered Wall Street Survivor 2 times and won twice.The prize was some Bahama trip. Well they never paid up both times claiming I never replied in time when I did. Just a scam.

1 Like

A Wall Street survivor wrote this review : “Site often has run time problems that renders “features” dead for many days at a time. And they render benefits unable to collect”.

1 Like

This was years ago. They claimed they emailed me and I didn’t reply in time. Thing is they never emailed me. I’m not even sure if it was all inclusive or just some hotel scam.

Just out of curiosity, what was your ROI in each case?

If you’re asking me I don’t remember it was something like 10 years ago now or whenever all those inverse ETFs came out. I just loaded 5 or 6 leveraged ones and won both times.

1 Like

Thats true ET. But in my case the contest only lasted months not years. Its very possible to have gotten skewered at some point in the contest duration. But its the same competition that Mark Minvervini and David Ryan have one - they trade in the equity bracket while I was selling short options.