"O**** - 32.5% in Profit"
I don't know about the other brokers, but I do trade through O****. They pay interest on carry trades, so I'm assuming most of their profitable clients are holding carry trades. But, a more important point needs to be made here - just being profitable one year means nothing. What matters is profitibility after 5 years, 10 years, etc. There's the rub, and that's what Mingary is pointing out.
I do disagree with one thing - most millionaires don't provide society with anything useful. They're rich because they're societal leeches. I see no intrinsic value in selling junk we don't really need, nor is speculating in real estate serving any real function either. Nor for that matter is dribbling a basketball or acting in a movie much use to society.
I don't know about the other brokers, but I do trade through O****. They pay interest on carry trades, so I'm assuming most of their profitable clients are holding carry trades. But, a more important point needs to be made here - just being profitable one year means nothing. What matters is profitibility after 5 years, 10 years, etc. There's the rub, and that's what Mingary is pointing out.
I do disagree with one thing - most millionaires don't provide society with anything useful. They're rich because they're societal leeches. I see no intrinsic value in selling junk we don't really need, nor is speculating in real estate serving any real function either. Nor for that matter is dribbling a basketball or acting in a movie much use to society.