Andrew Lynch

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If the price of a commodity headed up past its high point of the previous day, there was a decent chance that it would keep riding upward on a wave of excitement; so Marcus would take a large position at those crossover moments, protecting himself with a stop-loss order that would kick him out of the market if the trade went against him. Either the market took off and ran or Marcus was out: It was like mounting a surfboard, ready for the wave; if your timing was off, you just plopped back into the water. Like the storied hedge-fund traders who emulated this method later, Marcus reckoned that ...more
More Money Than God: Hedge Funds and the Making of a New Elite
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