ppc123 Posted August 10, 2009 Report Share Posted August 10, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 I do know some people threw away low-paid part-time jobs and made a million... wow, what an opposite. Quote Link to comment Share on other sites More sharing options...
deland Posted August 10, 2009 Report Share Posted August 10, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Very interesting story, gives many lessons to all of us. Makes you wonder why he did not spend more wisely. Quote Link to comment Share on other sites More sharing options...
rafamp Posted August 11, 2009 Report Share Posted August 11, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 that`s why i have one rule: always trade what you can lose Quote Link to comment Share on other sites More sharing options...
Drumster Posted August 18, 2009 Report Share Posted August 18, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Ouch!!! If you can stand to lose a six figure sum, then good on yer! The easiest way to make a million is to start with two million and lose half of it! Quote Link to comment Share on other sites More sharing options...
meridian Posted August 22, 2009 Report Share Posted August 22, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Yeah, this was on the news and he got several job offers because of it. Not sure if he got a better job or not tho. Like to deliver the newspapers while he was delivering pizza's? No, I'm only joking. It's a sad storey, but it seems he may be down, but he's not beaten. Not many men with his background would reduce themselves to a lower paid job, with low status... he will be ok. Quote Link to comment Share on other sites More sharing options...
syk1kz Posted August 23, 2009 Report Share Posted August 23, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Something that always bothered me with these reports. If this guy were a trader, even if he were to quit or get laid off from his company job, with the 500K he has saved up. If no investors come on, shouldn't he be able to take that money and just trade it himself? The profits at 20% a year would be pretty good for his family. sounds about right, if he was so successfull and such a long term trader then he could of easily turned his woe into doe, sure maybe not to the same extent but i bet it would be more cash than delivering pizzas Lerxst, I think he can't trade at all or he is just a human at the very best. Human are controlled by emotions, and when we trade our own money, we tends to go crazy. Afterall, if he's such a good trader, even before he quit his job he would already have 1 or 2 investors. With that said, it's still a good story. Regards, if he cant trade how did he get so successfull to begin with? Quote Link to comment Share on other sites More sharing options...
pichoo Posted August 29, 2009 Report Share Posted August 29, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Interesting story, as I understand from the article seems like he spent most of his money on lifestyle and holidays, shopping extravagantly, I mean $750,000 a year (not counting bonuses), in big companies like that bonuses could reach to a year of salary or even more. If he was in the company for at least 4-5 years (out of those 20 years), he should have around $5 million, which he could have invested in many other things. I guess he could be a good trader or worker, but not a good investor at all. But good thing he can adapt to the situation and his wife didn't leave him. So at least he didnt loose his loved ones. On other note, I know a millionare who took a hit in 1997 crisis, lost a lot on stocks i guess. Before that, he's extravagance lifestyle quite amazing, could spend thousands of dollars in any given day. But now he's much more conservative in spending, eg: not so rich anymore Lesson to be learn is, nobody is safe. Live a little but keep some for rainy days. Quote Link to comment Share on other sites More sharing options...
100pips Posted September 3, 2009 Report Share Posted September 3, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 This is so common in the United States, till 2006 over inflated mortgaged houses seem so cheap. Nobody will buy them for half the price now. Quote Link to comment Share on other sites More sharing options...
mubi99 Posted September 20, 2009 Report Share Posted September 20, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 So did this guy loose all his money in forex? But making $7.25 plus tips is better than sitting at home doing nothing. Quote Link to comment Share on other sites More sharing options...
halotan Posted October 2, 2009 Report Share Posted October 2, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Heard of many such cases, but this one quite weird. usually these fallen people wld get rid of all their assests, and start accumulating capital. Once they have it, they will make some calculated risks investment again and within years, they wld have recouped their losses. But I think for this case, it is better for him to enjoy poor but peaceful and grateful lives. Quote Link to comment Share on other sites More sharing options...
cadoo Posted October 4, 2009 Report Share Posted October 4, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 I think the things to be learned from this story are Don't spend more than you make and don't trade out of fear of losing ... cause you will @-) and don't put all your eggs in one basket Quote Link to comment Share on other sites More sharing options...
Cyrillic Posted December 8, 2009 Report Share Posted December 8, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 Like one wise man always said, a person that is a good worker is not a necessarily a good businessman. This shows just that. This is not a laughing matter since it can happen to anyone. It does take longer to trade yourself out of the ultimate draw down than it is out of 80% :)) Quote [spoiler:26ukmy10]Never trust, never fear, never beg[/spoiler:26ukmy10] Link to comment Share on other sites More sharing options...
henrybone Posted December 15, 2009 Report Share Posted December 15, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 A good reminder...never assume that anything will carry on forever Quote Link to comment Share on other sites More sharing options...
kakan6 Posted December 22, 2009 Report Share Posted December 22, 2009 Re: Ken Karpman Plummeted From a Six-Figure Salary to Earning $7 It will be a nice story to learn, worth making a book. Is there anyone here knows the complete story? Quote Link to comment Share on other sites More sharing options...
tradesafe Posted May 22, 2011 Report Share Posted May 22, 2011 Follow Up: Job Offers Pour in for Hedge Fund Delivery Driver http://slice.seriouseats.com/archives/2009/03/job-offers-pour-in-for-hedge-fund-delivery-driver-ken-karpman.html Some interesting comments !!! Quote Link to comment Share on other sites More sharing options...
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