Is the GOP taking a gamble that Voters will forget about those years 'Obstructionism' and Benghazi Witch hunts?
@ durango joe: Your response shouts that your screen name should be rightfully changed to "Deranged Joe!" After all, since the Financial sector orchestrated the economic meltdown and Corporations were outsourcing jobs faster than job were being created domestically, HOW DOES REVIVING THE ECONOMY BECOME THE RESPONSIBILITY OF A PARTICULAR POLITICAL PARTY?
If a trader makes 100–200% annual returns, then how is Warren Buffett the best investor in the world?
The three richest people who made their fortunes from investments are, from the Forbes 500 2017 list:Warren Buffett, $75.6 bn (#2)George Soros, $25.2 bn (#29)Carl Icahn, $16.6 bn (#55)Also listed is Prince Alwaleed Bin Talal Alsaud, $18,7 bn (#45). But he had a head start (Saudi royal family) while Buffett, Soros and Icahn all started with nothing. Which is why I left him out.Buffett is an investor while Soros is a trader. So based purely on results Soros must be counted as the world’s greatest trader.Soros had a couple of years where he made 100% profits. But his average in his heyday (before he started his Open Society foundation) was around 27%. More than Buffett’s 20%.So you might be wondering why Buffett is richer than Soros. A number of reasons:Buffett started much earlier, when he was 20 or so. Soros started about 15 years later (they were both born in 1930). 15 extra years of compounding your money makes an enormous difference. In his early years, by the way, Buffett was making up to 50% annual returns! Investing, not trading.Buffett continues to be 100% focused purely on Berkshire Hathaway while Soros spends most of his time on other activities.Traders burn out. Soros burnt out several times, often hiring other people to manage his Quantum Fund (he started the fund in partnership with Jim Rogers). Trading, compared to Buffett-style investing, is a high stress activity. 5 years for a good trader is a rough average.Soros has a very complicated trading strategy, very different from most other traders. A major reason, I believe, why few other traders are on the Forbes 500 list.Another reason is tax. Soros’s Quantum Fund is incorporated in a tax haven (Americans can’t be investors). So Soros is compounding his money tax free.Trading profits are usually taxed at income tax rates, so even if you were making 100% a year you’d quickly be in the highest tax bracket.Which of course makes Buffett’s non-tax-free achievement even more impressive.In summary, if Soros couldn’t make 100% profits per year from trading, year in and year out, nobody can.By the way, I’ve written a book on the subject, The Winning Investment Habits of Warren Buffett & George Soros. which goes deep into the differences—and surprising similarities—between Buffett’s, Soros’s, and other successful investors’ and traders’ approaches to the markets. You can read excerpts here.