George Soros is arguably the best investor in the world. Billionaire investor Stanley Druckenmiller who traded under Soros has the best record in the world. Averaging 30% yearly for twenty four years.
Druckenmiller has said the most valuable lesson he learnt from Soros is “Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular.”
“I’ve learned many things from [George Soros] but perhaps the most significant is that it’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
With a 30% average return from 1986 through 2010 (24 years) I think he’s had something like five down quarters in 25 years and never a down year.
He is the best of the best.
I am trying to do what he did (average 30%) but not yearly like he did but rather instead monthly. Take that in for a moment.
It takes courage. It takes patience. It takes enormous effort.
Fortune favors the bold.