To: LzzrdKing who wrote (10821 ) 8/22/1999 12:24:00 PM From: stock talk Read Replies (2) | Respond to
While I respect you and your opinion, I respectfully disagree. Having worked in the investment business I can personally tell you I saw 2/3 of all new retail stock accounts get wash out within the learning curve of 2 years. Most of the 1/3 that survived were retirees with largely income positions and buy and hold equity positions, not active traders. many do very well. In almost 2 decades working in the investment business of the hundreds(mostly likely thousands) pros I worked around, at least 50% of the money managers didn't make it more than 5 years and of the traders and brokers the failure rate was even higher and the time it took to fail was shorter. I would say of hundreds (maybe even more) of pros, I can only remember a dozen maybe 2 dozen at the most that consistently made money real money year after year. And those were the "pros" as far as the retail players goes, I saw thousands come and go. Yea, I saw a few retail guys making $100,000 hits, but most within a couple of years gave it all back, and it most cases more.
