Photo Credits: Spoon Monkey
Here is his advise on the subject of risk control.
Prudent money management was a skill Hull first honed on the casino floor.
“No matter what, you never bet more than one fiftieth of your bankroll, and if you lose, say, half your money, you reduce your bets by half,” he says. “In the securities market, when I had a very large position and knew that we had our maximum amount of risk, I’d still be tempted to make advantageous trades that would come up. But then I’d envision chips on the table and recognize that I already had my bets on.”
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