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Re: Worlds greatest forex trader?
Bill Lipschutz, who worked for the Solomon Brothers. He was interviewed in New Market Wizards, in my opinion one of the most colourful interviews too.
As a note for those that haven't read the interview with him, he used to be an options trader until one day they decided to open a forex division. This is an excerpt from the interview wuth Jack Schwager on how they went about it:
Wasn't there anybody else in the firm with the expertise in currencies?
No
Why wasn't there any thought given to getting someone from the outside with experience to develop the department?
That's not how Solomon did things. At Solomon everything was home grown. You're asking questions like you think there was some sort of business plan. The reality was that a few senior people got together one day, and one said, "Hey, shouldn't we really start a foreign exchange department?"
"Okay. Who can we get to run it?"
"How about Gill?"
"Okay. Hey, Gill. Do you want to run the department?"
"Sure, I'll do it."
Gill came from bond arbitrage. He had no experience in currencies.
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Very interesting in my opinion.
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