Though India has never been on his radar - which span countries like the US, Russia, Germany, Hong Kong, China and Italy - since July this year, he has started tracking Indian markets.
MUMBAI: What Warren Buffett is to long-term investments, Larry Williams is to short-term trading. Larry Williams, the master at the short-term version of playing equities and author of eight books on investing in the capital and commodities markets, was in Mumbai on Tuesday.
Though India has never been on his radar - which span countries like the US, Russia, Germany, Hong Kong, China and Italy - since July this year, he has started tracking the Indian markets.
But his interest in the country is not restricted to making money; he also wants to set up a school that teaches investors how to use his tools and make short-term gains in capital markets.
The first phase of the school will commence operations in Bangalore by February 2006, when Williams hopes to visit India again. This will be just before March 2006, when he feels that the Indian markets will peak out. And the bear phase in India, according to him, will set in by July 2007.
Willilam’s best-sellers include The Right Stock At The Right Time, Long-Term Secrets To Short-Term Trading, Trading With The Insiders and Day Trade Futures Online.
“Technical analysis and charts are like placebos. To be able to make money in the markets, one needs to know the market conditions. And to be able to be successful in the markets, one needs to get over the emotional fear,” said the champion money maker.
Williams is a winner of the prestigious Robin’s Trading Championship, and so was his daughter-actress Michelle Williams when she was 16. In 2007, his grandson, all of 12 now, hopes to emulate his grandfather.
Williams’ net worth is a secret he closely guards, “The better and bigger thing to know would be my ex-wives’ net worths,” says Williams.
An inkling of his value can be gauged from how, without any hestitation, he puts a million of his own dollars to teach his students how to play his game. He says his premonitions are correct about 75% of the time.
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