2 - George Soros Won't Return My Calls
Thanks for tuning back in… Where were we…?
Here’s a quick recap...
It was 1992, George Soros made $1 billion shorting the British Pound and was too busy to return my calls.
I desperately wanted to learn how to become a Foreign Currency Trader, but had no clue where or how to start.
Here’s what I did next...
Remember it’s 1992.. No internet.. No Google search, life was a bitch.
I hit the phones...
I called every college, university and trading exchange I could find..
Guess what, no such program existed.
There seemed to be no-one who could teach me this… it made no sense.
I worked backwards… I figured if banks hired traders, I would call them.
Ring .. ring .. ring
ME: I’d like to apply for a job as a currency trader
BANK: Do you have experience ?
ME: No, do you provide training?
BANK: No, you have to have experience
ME: Where can I get experience?
BANK: Another bank
ME: Do you think THEY would hire me without experience?
BANK: Probably not
Well that went well...
My next angle...
I turned on CNBC and watched for hours.
I could care less about their market opinions, guests or interviews…
What I wanted was the commercials.
Every time a commercial came on for anything having to do with commodities, currencies, forex etc… I jotted down the name and phone number.
I literally let CNBC do my research for me as I wandered around my apartment blasting music, eating potato chips (I friggin love chips) and pounding coffee.
I endured 300 views for the Culligan Water Man...
And 168 renditions of Vita Nelson and her Dividend Reinvestment plan…
(Hey if you were watching back then.. You’ll remember those )
Within a few days… I had my list.
I started to make some calls.
It was a call I made to a commodities firm called Lind-Waldock that changed everything.
After explaining that I’d be happy to open a brokerage account.. But first I had to learn how to trade.
ME: If you want me to open an account surely you have some materials, guides, training manuals, that could teach me how to do this.
Lind-Waldock Guy: That’s a good point.. let me see what I can dig up.
Lo and behold ! 7 days later a package arrived by mail.
It was a thick document size envelope and it probably weighed 11 lbs.
The Lind-Waldock Guy had come through big for me.
He pulled a copies of dozens of manuals, guides, and how to sheets…
Some, I am guessing were for internal use only. (shhh)
Some had been photo copied so many times that the font was 12 point mush-blurr.
But at last I had what I needed.
I dug right in...
By now I had quit my real estate job and had plenty of time to learn.
I told Lisa my then girlfriend and now wife what I planned to do.
What I explained almost made her cry...
Tune in tomorrow to find out what horrible thing I did that could make Lisa cry…
It also launch my 27 year trading career.