Over the years, the world saw numerous traders, some more successful than others. The world has seen some spectacular trades that led to amazing profits. While some traders left the forex environment and moved on to different careers, others managed to show off how good they are at what they do, becoming an inspiration for newer traders who aim to become wealthy. Luckily, you can become a successful trader too, but while you’re doing your best to learn the art of trading and find the best brokers with the review of SimpleFX, you should take a look at the most famous traders and use them as inspiration. This post will present the 7 most famous traders of all time.
- George Soros
You must’ve heard about George Soros before, even if you’re not familiar with his activity. He is a Hungarian-American billionaire born in 1930. In his younger years, he lived in Hungary under Nazi occupation but then managed to emigrate to England. That’s where he went to the London School of Economics to study philosophy. He became the chair of Soros Fund Management, which is one of the most successful companies in the world when it comes to the hedge fund industry. After selling $10 billion worth of pounds with a $1 billion profit, he was named “the man who broke the Bank of England”.
Soros was able to remain successful by focusing on the world’s macroeconomic trends. He took advantage of various geopolitical events, commodity shifts, and currency fluctuations.
- Steven Cohen
Steven Cohen is another successful trader who managed to earn a lot. He was born in 1956 and established a hedge fund known as SAC Capital Advisors. In his younger years, he would play cards, something that allowed him to earn money in his college years. On his first day at the Gruntal investment banking company, he made $8,000 on the first day. Then, he decided to found SAC.
In 2013, the Securities and Exchange Commission charged the fund for failing to prevent insider trading. This led to a $1.2 billion fine.
- David Tepper
David Tepper is known for Appaloosa Management, a hedge fund that he established in 1993. This hedge fund was extremely successful, allowing Tepper to become a wealthy individual. Tepper was born in 1957 and he is great at distressed debt investing. Traders look up to him as an inspiration, especially following his numerous apparitions on CNBC. Initially, he was a credit analyst before he moved to tagging distressed companies.
- John Paulson
Another known trader is John Paulson, who was born in 1955. He used credit default swaps to sell short in the subprime mortgage lending market in the U.S., which is what allowed him to earn billions of dollars back in 2007. This is what allowed him to become a top trader. While building the wealth of others, it’s believed that he made his $4.4 billion fortune. At the same time, in 2020, he lost a huge amount of cash due to some mistakes, resulting in some of his hedge fund’s investors leaving.
- Ray Dailo
Ray Dalio is behind the world’s largest hedge fund, respectively Bridgewater Associates. He is in charge of $124 billion worth of assets. Dalio has a YouTube channel where he talks about his approach, and he even wrote a book titled “Principles” where he talks about his views on life and work.
- Richard Dennis
Richard Dennis was born in 1949 and is known for his Chicago-based commodity trades. He is known as the “Prince of the Pit”, and over 10 years, he was able to earn $200 million from speculations. It’s believed that he only had $1,600 when he got started. In the 1987 stock market crash and in 2000, he experienced huge losses.
- Benjamin Graham
Traders also look up to Benjamin Graham, who is known as the “father of value investing”. Graham is the one believed to be the creator of the “margin of safety” phrase. He details more about his investment theory and approach to trading in his book, named The Intelligent Investor.
Conclusion
The world has many famous traders, but some were able to make themselves known even to those who are not into trading. If you want to become successful, learn more about their strategies from their books or TV apparitions, and you’ll be able to become a great trader as well.
