LogFAQs > #811765

LurkerFAQs ( 06.29.2011-09.11.2012 ), Active DB, DB1, DB2, DB3, DB4, DB5, DB6, DB7, DB8, DB9, DB10, DB11, DB12, Clear
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TopicWhat if Judge Napolitano was awesome? (Official Ron Paul 2012 topic)
red sox 777
02/27/12 5:17:00 PM
#246:


It's a fictionalized biography of a really great trader with a very interesting approach to speculation.

Perhaps the most striking thing about the book is that the way it portrays the times (early 1900s), everyone apparently traded on thin margin in the 5-10% range. That's actually a lot more fair than the way it is now, where banks/investment professionals/rich people can still find ways to hyperleverage their money, but the common person cannot. The regulations are trying to protect common people from their own stupidity, when the real danger is not the stupidity of common people, but the concentration of power/risk in a few places.

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