Trading is not the way I think

TradingThe word “trading” is not the way I think of things. I may be a trader in the sense that my frequency of transactions is relatively high, but the word “investing” would apply just as much, if not more. In my mind, trading implies an anticipation of a sale at the time of purchase. For example, if I go long stock index futures tonight because I expect tomorrow’s trade number will be bullish for the market, and I plan to sell my position tomorrow—that is trading. The bulk of what I do is for a much longer duration and for more complex reasons. For example, when I went long the debt 97 markets in 1981, I held that position for two and a half years. – Michael Steinhardt

Igor Marinkovic

Electronic engineer, futures trader and property investor and total beginner in making good web sites