You only need to make one big score in finance to be a hero forever.

But in practice, if often comes down to not suffering a loss as big as the huge gain you made a while ago.

You only need to make one big score in finance to be a hero forever.

Everybody has some information. The function of the markets is to aggregate that information, evaluate it and get it incorporated into prices.

If there's 10,000 people looking at the stocks and trying to pick winners, one in 10,000 is going to score, by chance alone, a great coup, and that's all that's going on. It's a game, it's a chance operation, and people think they are doing something purposeful... but they're really not.

What counts is what you do with your money, not where it came from.

As an economics undergraduate, I also worked on a part-time basis in Cambridge, Massachusetts, for a company that was advising customers about portfolio decisions, writing reports.