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In this article, you will learn about how to account for foreign currency transactions undertaken by the domestic company. A foreign exchange transaction takes place when a domestic company such as a company in the US enters into a transaction with a buyer or seller in another country such as UK to buy or read more products or services and the payments for the transaction are in foreign currency in this case pounds. We have the following details:. If the US firm was entering into a transaction with a foreign firm but the transaction was to be settled in US dollars, then the US firm will account for the transaction in the same manner as if it happened with another US firm. However, in this case the transaction is with a foreign company and the transaction is being settled in foreign currency. This exposes the US firm to bank holding company act investopedia forex exchange risk, i.

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Those who have made money on forex

Best practices to that this software. Create a free Team What is. Applications are available comes in two to have either data hasn't been counter level and it would be on PC or.

Much love from Windhoek-Namibia. Dear Justin, Sometime, l marvel at your wealth of experience. I really enjoy reading your writeups. I am still in forex trading because of my passion. I pray l get the required skill sets to start profiting.

Simplicity is the key to success in Forex trading but the quantum of information available to traders confuses them. I think this is deliberate. It is my wish you continue to make understanding forex simple to most of us determined to take it as a profession. Thank you for sharing with us what you know and are helping you to be successful.

Best Regards. From my experience as a forex trader , my most successful trades come from maximizing the opportunity of volatile news. I place stop orders on both sides of the market. Not always , but usually it results in a win. I check the charts and decide what is the stop entry order , what is take profit and what is stop loss with trailing stop.

There is risk that entry will be delayed as well as stop loss because the market is moving so quickly. But just as the market may move past the stop loss , it sometimes moves past take profit. The simple trick to win in forex is 1: Think differently then all the other companions. Its just a game they are playing with ur emotions and mind. Learn this game. So simple and effective guide. Bit it needs a lot of practice to bring these attributes in your trading habit.

Wonderful article — really insightful. Totally agree that not focusing on winners or losses is key to success. Changed the game for me. And sometimes doing your homework and research can be beneficial in your decision making. I would like to share my experience and answers if you have questions. Thank you for your words Justin, you inspire me.

I need your help. I just joined your telegram page. If you really want to take your trading to the next level, the membership site is where you need to be. Hello Guys, Y. We are the Pioneers and specialized in offering Niche Products to the Masses. Get the best billing machine at the best price directly from manufacturers, suppliers, and exporters. I am bookmarking this site I need to frequently remind myself these nine important facts!

Thank you very much, Justin! Helpful article! Before starting currency trading. Among other things that matter are stock market prices and the economic calendar. To me I take this opportunity to say thank u for portion u gave to me in my learning process and trading journey. This is the best thing i have ever read about trading thanks alot Justin for sharing such a mindblowing article i need to read more from you.

Good Post!! Nice Article! Thanks For sharing your valuable information with us. Trading is all about practicing and taking notes of all the past strategies and bids to put things right every other time. This is the first time am commenting on a blogpost,and do u know why,cause this is the best writeup av read so far..

Every trader can learn how to trade forex from your article. Have a nice journey. It is a good way to increase your wealth if you have the right skills and knowledge about the industry as a whole. If you fail to become an expert in trading before investing large sums of money in it, you may be leading yourself towards financial ruin.

Fantastic article, Justin. I have been trading for over two years. I went back to my demo account, something I should have done for much longer before venturing to a real account, and now working on it — trading psychology. Such a well written article, this can really serve as a roadmap of topics to further study and become proficient in. Learning any craft takes years of hard work and dedication and trading is no different a shame scams make people believe otherwise.

This site is bookmarked for me! My regards to him. Birman law or most of these recovery companies cant be of help. Everyday is a day of new decisions. Contact us on email: [email protected]. Too many enter forex trading thinking it is a get-quick-rich opportunity.

Thank you so much… I was losing money, but i wont call it losing money.. But it was a good investment…. Today I am a better trader.. I discovered that I do have passion for trading. Its true when you say without passion why do it….. Thank you. This reading was very fulfilling, I started a couple weeks ago and I have so so sooo much to learn, with that said, your honest words and insight have give me the encourage and motivation that I needed!

The simple truth about binary options which many of us do not know is the fact that it is mainly based on predictions. Without proper knowledge of what next can happen to the stock market, you are sure to lose your funds. That is why it is important to be tutored or mentored by a professional trader in binary options.

Feel free to contact him on: [email protected]. Good Information!! Thanks for sharing a piece of stuff here. This article helps us to enhance the knowledge about forex trading. I have never seen a broker company this unprofessional! I started trading with them on the 10th of July I decided to try out some of their tools on the demo ac. I made no profits so I decided to withdraw but they declined severally till I filed a charge back through: [email protected].

I sincerely hope something can be done to improve these faulty areas. Thanks for the insight. I read your content. Very nice. Your content is very informative. The content you are writing about forex traders is very important. To know more about forex trading visit my website that works like yours. I think Forex trading is more dangerous these days than previous years due to the increase in the size of the leverage. Hi Justin, Really good post with the trading inspiration guide.

Trading is one of the therapeutic elements in life where traders feel great about their lives when profits earned are in good numbers. However, the assistance of a financial broker is pivotal here. It is brokers that provide opportunities, accounts and platforms for trading and allow the market player to live a dream of investment.

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I was a victim of WDC Markets investment scam some months ago myself. It was a sad experience for me. However chargebacksecured dot com helped me get my money back the right way. Very interesting post on successful forex traders. Awesome and step by step explanation. I really appreciate the way you have written and explained. Thanks for sharing. Great post, was really informative, thanks!.

I think that being patient is one of the most important thing for any trader. Great Blog!! I have gone through your blog and I appreciate that you have explained each and everything in very efficient manner and that too very accurately. Thank you for posting such a informational blog. Forex is one of the largest according to per day trading volume and most attractive markets, generating maximum returns for you if traded carefully.

There are many trading strategies, such as day trading, forex scalping, swing trading strategy, which you can use. For Successful Forex trader you need to hone your trading skills and strategy. Here are some tips for become forex successful trader. In this article you tell many tips for successful trader calculate your expectancy Define Trading Strategy and Goals Choose best trading platform and broker and many more tips helps you becoming successful forex trader.

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One has to be vigilant these days on the internet as fraudsters lurk to scam unsuspecting victims. Have you ever been a victim of s c a m? Or have you lost your money to fake crypto investment website or binary option? I was a victim of fake bitcoin investment who took a fortune from me but I got online and saw recommendations about this guru who recovered all my money without a dime left out.

Write this genuine and credible funds recovery expert now!!! I really liked the never-give-up part. People Want to start their journey as traders but they face difficulties and give up and stop there.

But who really wants to trade never quit. Hi, thank you for sharing this wonderful post. This is more informative to know about forex trading. Greetings Justine, I need to thank you for the added knowledge that I gained from your website and I have to say the is a great deal of truth in you advices for personally where I come from in trying to see some success in my trading to where I am now by means of all those who taught me, I never thought I will not bother much about the gains and actually love the principles behind trading.

I regard myself as a student of the market and I thank people like you for being a Blessing in our journeys to becoming successful traders. Thank you once again. Hi, you really share a great piece of content and useful information for the people.

Thanks for sharing this post with us. Hey Justin! Hope you are dooing great. Every time you posted article it just boost my knowledge about trading. Really thankful to you for this act of kindness. Thanks for listing down these names.

Even though profitable traders have always been the minority, these names can still motivate others. The Rescue Team is currently recovering funds for all victims and has successfully helped me. I know quite a number of people had also fallen victim. This is really a wonderful expository on forex. I am a newbie to the forex market and it will help me a long way. I really want to be your mentee. Can you get rich trading Forex? Who is the most successful Forex trader?

What is the number one trait of a top Forex trader? Your analysis and advises are gems of knowledge and wisdom. Let me know if you have any questions. Maman says Thanks for your inspiration Reply. Justin Bennett says My pleasure. Justin Bennett says Wow, thanks for the kind words. Justin Bennett says Being a beginner at anything means you have a steep learning curve ahead of you. Babafemi says I just want to say a big thank you to you Justin.

Justin Bennett says Always happy to help. I look forward to hearing your story. Let me know if you have questions. Yuan Jye says Thanks for the valuable summary. Adedokun Tobi says Hey Justin, can you recommend trading books to read! Pierre Mifsud says Paper trading, utilizing very small lots, a big desire to learn from your mistakes and sticking to the same strategy and improving on its execution and management skills are key ingredients of success Reply.

Mfundo says Coach what about the desire for more informative material not just irrelevant information that is up on google and other sites in the internet? Deborah says Thank you Justin. You are an amazing forex educator Reply. Adeniyi says Thank you Mr Bennett, I always love your posts and set up because no matter how experience you are, you will surely lean and gained from the post.

Hernando says Thank you Justin, I read the article and I see many things reflected from the experience I have had in these three years operating, I follow it a year ago and my way of thinking and operating has taken a total turn and most importantly productive. Translated by Google Reply. Michael says Very good write-ups.

Maria Cristina Bondoc says I have been reading your posts for sometime now, learned a lot to be able to decide whether I would start my trading career now that I am retired from work. Thank you Reply. Goodness says Thank you so much Justin. God bless you real good Reply.

Yusuf Ahmad says Good, this is an encouraging wake up message, well educative, now I have hope of becoming a successful Forex trader. Washington Muriuki says Thanks a lot for your advice, I wish I know one of your trading strategy, God bless you. Joshua says Great article Reply. Joe says Dear Justin thank you so much for this wonderful piece of writing, i have learned so much from it. Much love from Windhoek-Namibia Reply. Dan says Dear Justin, Sometime, l marvel at your wealth of experience.

Abshir Dhoore says Best Book Reply. Munge says Thanks a lot Bennet for the great eye opener. John says Those could be the missing pieces to many traders. So candid. Thanks for the article. Asher Appleman says From my experience as a forex trader , my most successful trades come from maximizing the opportunity of volatile news.

Justin Bennett says Thanks for sharing. Qayyum says The simple trick to win in forex is 1: Think differently then all the other companions. Jabu says This is the very powerful inspiration thank you Reply. Remote Mugada says this article is so helpful, thank you so much Reply. Glad you found it helpful. Sanjay says So simple and effective guide. Natalie says Wonderful article — really insightful.

Justin Bennett says Thanks, Natalie. Glad you enjoyed it. Srikanth says Brother justin thanku for valuable article looking forward to apply Reply. Alvie O says Scriptures from the bible of Forex my friend…thank you again Justin for your wisdom. Gaius says Thank you for your words Justin, you inspire me. Roland says How about fundamentals Reply. Dwi Ranto says Terima kasih Justin Bennett. Sulaiman says Sir whats ur Strategy winning Percentage? Per month Reply. Abinezertakiso says I wanto learn forex Reply.

Morafi Rudolph Makua says I am bookmarking this site I need to frequently remind myself these nine important facts! Forex Trading says Thanks For Sharing, learning so much from you. Ronak Mehta says Helpful article! Thanks alot Reply.

Nimusiima Nibert says To me I take this opportunity to say thank u for portion u gave to me in my learning process and trading journey Reply. OPISO says This is the best thing i have ever read about trading thanks alot Justin for sharing such a mindblowing article i need to read more from you Reply. Mr kelvin says This is the first time am commenting on a blogpost,and do u know why,cause this is the best writeup av read so far.. Yuran Alar says Fantastic article, Justin.

Joeri says Such a well written article, this can really serve as a roadmap of topics to further study and become proficient in. My regards to him Reply. Contact us on email: [email protected] Reply. Ntsakisi says Thank you so much… I was losing money, but i wont call it losing money..

Nelisiwe says I really appreciate the information I got from this post Reply. After surviving the economic collapse , he closed his hedge fund , admitting he was worn down by the constant need to maintain his successful track record.

This bankroll put him in a perfect position to profit from the Oct. Krieger focused on the New Zealand dollar NZD , which he believed was vulnerable to short selling as part of a worldwide panic in financial assets. He greatly leveraged his exposure by using foreign currency options combined with his already high trading limit, acquiring a short position that may have rivaled the New Zealand money supply.

Bill Lipschutz started trading while attending Cornell University in the late s. He subsequently joined Commodities Corporation as a trader, booking millions in profits and gaining a solid industry reputation. From Soros to Kovner, the common theme among this list of famous forex traders is that they have profited mightily from their thoughtful trades, which coupled with self-confidence and an incredible appetite for risk, has cemented them among the best and richest investors in history.

George Soros. Robert Slater. McGraw-Hill, The Guardian. Jack D. HarperBusiness, The New York Times. Andrew J. Times Books, Robert Carbaugh. Cengage Learning, Andrew Krieger. Bruce Kovner. Warren Buffett. Business Leaders. Your Money. Personal Finance. Your Practice. Popular Courses. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

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Central banks as well as speculators may engage in currency interventions to make their currencies appreciate or depreciate. For example, a central bank may weaken its own currency by creating additional supply during periods of long deflationary trends, which is then used to purchase foreign currency. This effectively weakens the domestic currency, making exports more competitive in the global market.

Central banks use these strategies to calm inflation. Their doing so also serves as a long-term indicator for forex traders. Portfolio managers, pooled funds and hedge funds make up the second-biggest collection of players in the forex market next to banks and central banks. Investment managers trade currencies for large accounts such as pension funds , foundations, and endowments.

An investment manager with an international portfolio will have to purchase and sell currencies to trade foreign securities. Investment managers may also make speculative forex trades, while some hedge funds execute speculative currency trades as part of their investment strategies.

Firms engaged in importing and exporting conduct forex transactions to pay for goods and services. Consider the example of a German solar panel producer that imports American components and sells its finished products in China. After the final sale is made, the Chinese yuan the producer received must be converted back to euros. The German firm must then exchange euros for dollars to purchase more American components.

Companies trade forex to hedge the risk associated with foreign currency translations. The same German firm might purchase American dollars in the spot market , or enter into a currency swap agreement to obtain dollars in advance of purchasing components from the American company in order to reduce foreign currency exposure risk.

Additionally, hedging against currency risk can add a level of safety to offshore investments. The volume of forex trades made by retail investors is extremely low compared to financial institutions and companies. However, it is growing rapidly in popularity. Retail investors base currency trades on a combination of fundamentals i. The resulting collaboration of the different types of forex traders is a highly liquid, global market that impacts business around the world.

Exchange rate movements are a factor in inflation , global corporate earnings and the balance of payments account for each country. For instance, the popular currency carry trade strategy highlights how market participants influence exchange rates that, in turn, have spillover effects on the global economy.

The carry trade, executed by banks, hedge funds, investment managers and individual investors, is designed to capture differences in yields across currencies by borrowing low-yielding currencies and selling them to purchase high-yielding currencies. For example, if the Japanese yen has a low yield, market participants would sell it and purchase a higher yield currency. When interest rates in higher yielding countries begin to fall back toward lower yielding countries, the carry trade unwinds and investors sell their higher yielding investments.

An unwinding of the yen carry trade may cause large Japanese financial institutions and investors with sizable foreign holdings to move money back into Japan as the spread between foreign yields and domestic yields narrows. This strategy, in turn, may result in a broad decrease in global equity prices. There is a reason why forex is the largest market in the world: It empowers everyone from central banks to retail investors to potentially see profits from currency fluctuations related to the global economy.

There are various strategies that can be used to trade and hedge currencies, such as the carry trade, which highlights how forex players impact the global economy. The reasons for forex trading are varied. Speculative trades — executed by banks, financial institutions, hedge funds, and individual investors — are profit-motivated. Central banks move forex markets dramatically through monetary policy , exchange regime setting, and, in rare cases, currency intervention.

Corporations trade currency for global business operations and to hedge risk. Overall, investors can benefit from knowing who trades forex and why they do so. Bank for International Settlements. Your Money. Personal Finance. Your Practice. Popular Courses.

Table of Contents Expand. Table of Contents. What Is Forex? Who Trades Forex? Forex Trading Shapes Business. The Bottom Line. Key Takeaways The foreign exchange also known as FX or forex market is a global marketplace for exchanging national currencies against one another.

Imagine this as a deposit you put on a house, so the bank knows you're serious about buying a house. In forex, this deposit if your initial margin, and gives the broker a sign that you're serious about open some trades. The margin requirement is the amount your broker requires in order for you to open a.

This is usually expressed as a percentage and is also known as leverage when expressed as a ratio. As a trader, this means you can hugely amplify your returns, but at the same time amplify the losses. He really knew his stuff that guy. It should all start to make a little bit more sense now on how money is made when trading forex. The powerful tools of leverage and CFD's combined make trading one of the most profitable vehicles you can choose to drive. But before we can start making those returns, we need a plan.

This will be your forex trading strategy A forex trading strategy is a plan you make to build a money-making portfolio. A good forex trading strategy will answer the following questions, no more and no less:. The aim of the game is to try and predict which currency will gain strength and increase relative to another currency.

In forex those questions can be replaced with the following steps:. In this step traders will determine the value of each currency, to determine if you want to buy it or sell it, based on its fundamental value. In this step traders check the current price, and historical price of the forex pair and compare it against your value calculation.

If its below value, buy, if its above value, sell! In this step traders will work out at what price they're willing to take their profits, or minimise losses. A forex strategy must have a structured plan that encompasses valuation, optimisation and risk management, in a quick and easy fashion every week. To understand this, we need to look at something called fundamental analysis. This is where we consider a variety of economic variables to determine the supply and demand of a currency.

Simply, how much money is there in circulation in the economy. Each currency is backed by an economic region or country. Therefore, what we want to do is take a deep look into how well that economic region is doing to decide whether we want to buy or sell their currency. A lot of traders use things like a macro currency strength meter to do this for them, as it's not an easy task to do alone.

The first step to answering the questions of "what" we want to buy or sell, is to change the question to:. There are 6 key factors to consider:. These 6 broad categories are essentially how global macro traders, from investment banks, right the way to your stay-at-home novice value a currency. Once analysed, this will tell us, in the future, if there will be an increase or decrease in the supply of the currency for a particular region. Then from this, we can answer our original question of "what" we want to buy or sell by understanding the basic principles of supply and demand theory The theory of supply and demand suggest the amounts of goods and services available for people to buy in comparison to the amount of goods and services that people want to buy.

I think the best way to explain this is with a little example:. Once upon a time, in a small town, there was a Gold mine. The miners were working for 2 weeks and found an almost infinite amount of gold, and it was easily accessible to the whole town. In this town, there was a massive "supply" of gold.

As the gold was so easily available, the "demand" for gold was quite low. This made it cheap. Day After a month, there was a storm, and it flooded the mines, washing away all the gold that the village had, leaving a small stockpile that was in the Mayor's house. Gold has now become scarce, and the "supply" has become restricted. As the gold was no longer easily available, the "demand" for gold has drastically increased.

This made it a lot more desirable and more expensive. There are 2 rules we can gain from our story:. This same principle applies to currencies. By using our fundamental analysis, we can determine the supply and demand of the currency, and by net effect, its value. And just like that, we know "what" we want to buy and sell, and "why" we're doing it The most powerful trading strategy there is and is used by nearly all investment banks and you soon enough you'll be using it too budding forex trader.

But Marcus, how do we know whether there is more or less money in circulation? The trick is to use a scoring system for each economical variable which makes it easier for us to interpret the data. This is essentially what a macro currency strength meter would do to make it really easy.

Our macro currency strength meter has already considered if there is more or less money in circulation for the United States and Japan. It then computes the currency score on a scale of to on how strong or weak the currency is dependant on this. If we have a strong positive score for a currency, we would want to buy it the currency is in low supply, more demand. If we have a weak negative score for a currency, we would want to sell it the currency is in more supply, and less demand.

If you'd like to learn this in a bit more detail, we have a free web-class breaking it all down simply here. Now we know what we're doing, and why we're doing it The best traders answer this is with a traffic light system based on the current market sentiment :. If the market is against you - don't enter.

If it is neutral - wait longer. If it is supporting you - enter now. The question is, how do we know if the market is with or against us? The way we know this is by reading something called the Commitments of Traders Report, which is released once a week by the Commodities Futures Trading Commission. This report tells you whether the Hedge Funds are also buying the U.

If they disagree we don't enter and wait. We care about what the Hedge Funds are buying and selling as they have the exact same objective as forex traders:. The difference between a Hedge Fund and your stay-at-home forex trader is that they have a lot more buying power. This means when they place trades, it gives the market "fuel" to push and influence the trade in your favor.

Think of it like this, if the hedge funds disagree with you, don't enter your trade. It doesn't mean your trade idea is wrong, it's just the wrong time. The rocket ship is just fuelling up before liftoff. Your job is to wait till it's ready! It's one of the most powerful trading tools traders will ever use to make money trading forex. If you'd like to learn how analyse the COT report so you can use this powerful timing tool, we have a full guide here.

Risk management is imperative to make sure you make more money when you're right then when you're wrong. It's also the way you determine when you should take on more risk, reduce risk, and more importantly when to exit your trades. It's all well and good knowing when to enter, and what direction you expect price to go, but if you have no plan to exit the position, you won't make any money.

This is why forex risk management is considered the most important part of making money in this game. Let's play a little game to transform you into a risk management genius:. Imagine, that these 2 boxes are in front of you right now. The boxes are actually opaque, so you can't see inside them.

Scenario 1 - "Getting Paid". I want you to pick from either box A or box B. Whichever ball you pick, you get paid the amount that the ball is worth according to the key. Which box do you pick? Write it down, or make a mental note. Scenario 2 - "Losing out". Again I want you to pick either box A or box B. In this case though, whatever ball you pick you will lose that amount of money.

Which box do you pick now? Write down your answer. There are no right or wrong answers to the above question, but there are answers that will make you a successful trader. Scenario 2 - Majority choose box A chance to prevent all loss by picking the red ball. No, I am no wizard, I did not read your mind!

This is understanding the innate human instinct which naturally makes use terrible at risk management and trading. You'd be interested to know, successful traders choose the exact opposite of the majority. Successful traders would pick :. Scenario 1 - Box A. Scenario 2 - Box B. Let's see why:. It's all to do with the maths! Don't worry it's not as hard as it looks. What a good trader will do is look at both scenario 1 and scenario 2, as an objective mathematical equation, and use probability to make their decision.

Essentially, the optimal solution would be to choose the event, that in the long run, will give you have a higher return given the chance it happens. With our 2 boxes, A and B, we must first calculate our risk-adjusted expected return for each box Now in scenario 1, if you recall, this is where we were getting paid.

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Yes, there are many people who became successful and rich traders like George Soros, Stanley Druckenmiller, Andy Kreiger, and Bruce Covner. They are the people. jellt.xyz › › Strategy & Education. The Most Famous Forex Traders Ever · George Soros · Stanley Druckenmiller · Andy Krieger · Bill Lipschutz · Bruce Kovner · The Bottom Line.