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Better System Trader

236: How to Profit and Protect in Any Market Conditions - with Tom Basso

May 23, 2024
Tom Basso, a Market Wizard and $600 million fund manager, shares his strategies for profiting in any market conditions. Topics include extreme diversification, simple hedging strategies, using multiple indicators, common-sense trading decisions, and risk management. Learn how to protect your account in downturns while enjoying the ride!
58:00

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Extreme diversification can boost portfolio growth, traditional diversification may not suffice.
  • Proper position sizing and risk management are crucial for long-term trading success.

Deep dives

Tom Baso's Journey in Trading and Retirement

Tom Baso shares his trading journey, starting like most traders with limited knowledge and years of persistence to eventually become profitable and managing $600 million before retiring in 2003. He reflects on how his motto 'enjoy the ride' led to the creation of a mentoring website to streamline answering common trading questions.

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