- Published: 07 September 2016
- Written by Editor
- Hits: 3111
Trader Radio with Rob Booker
Do you know Tom Sosnoff?
He's the founder of Think or Swim, which he sold to TD Ameritrade for $600 million.
He was a floor trader for 20 years at the CBOE.
He's no dummy.
But wow, he has some crazy opinions. And because he's rich, and because he's famous, a lot of people will believe him.
(He's also running a web-tv show called TastyTrade.com for options traders)
Recently he said that no quant model, or trading system for forex, futures, or stocks, would ever be able to "beat the market."
This statement is not only unprovable, but it also calls into question if Tom's simply lost touch with reality. He's flat wrong.
I like Tom. Tom's smarter than I am. He's richer than I am. But on this, he's just wrong.