Video is courtesy of the PureLuxuryTV YouTube channel
I keep getting calls to trade “Opium”. No not drugs! “Opium” stands for “Other People’s Money”.
You see, I used to Invest and trade Equities for a living. That was trading my own account. It grew from almost nothing to providing a nice living.
For me to trade “Other People’s Money – ie Opium” would be strange. You train yourself not to sweat losses. You also train yourself to take on more and more risk. All this while maintaining a healthy respect for Risk Aversion.
For me to join a Private Equity Trading firm would mean me moving to New York City. So I figured that I would check out rentals there. After about a year I could decide to stay and then buy a condo.
http://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&byGuid=3000459258&size=530_298Video is courtesy of CNBC
The listing for a Penthouse on the 17th floor of the Lowell Hotel in Manhattan seemed perfect. I will not live in a super high rise tower. If there is a problem, you have a long way to get back to ground level and I’m not an Angel therefore I cannot fly….
Being in the luxury Lowell Hotel is great, especially if you have guests over. Just call down to the kitchen and have food and wine brought to your door. Maid service is there, so you don’t have to worry about hiring and trusting someone with your home. That are many benefits.
One could rent the Penthouse for only $300,000 US per month. Yes that is expensive when compared to Toronto, but not so much for New York City.
Martin Zweig, another Trader (but he was famous), enjoyed living in the top three floors Penthouse of the Pierre Hotel in New York City. I guess that I could follow in his footsteps. I used to enjoy watching Marty Zweig banter with Louis Rukeyser,on the Wall Street Week show on PBS. He was an extraordinary Trader.
Posted by: Vincent Banial
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