Larry Hites kusin
Dagens visdomsord från Larry Hite.
I have a cousin who turned $5,000 into $100,000 in the option market. One day I asked him, "How did you do it?"
He answered, "It is very easy. I buy an option and if it goes up, I stay in, but if it goes down, I don't get out until I am at least even."
I told him, "Look, I trade for a living, and I can tell you that strategy is just not going to work in the long run."
In his next trade he put his money in Merrill Lynch options, only this time, it goes down, and down, and down. It wiped him out.
Larry Hite
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