Stocks & Commodities V. 24:2 (60-67, 80): Interview: David S. Nasser by Jayanthi Gopalakrishnan

Stocks & Commodities V. 24:2 (60-67, 80): Interview: David S. Nasser by Jayanthi Gopalakrishnan
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Stocks & Commodities V. 24:2 (60-67, 80): Interview: David S. Nasser by Jayanthi Gopalakrishnan

David S. Nassar is many things: He is the founder and CEO of MarketWise Securities and MarketWise.com, a 20-year veteran trader, a New York Times best-selling author, and a columnist for MarketWatch.com, among other achievements. Nassar is a highly sought-after speaker for trading forums worldwide and has spoken before audiences ranging from Massachusetts Institute of Technology students and faculty to the US government.

STOCKS & COMMODITIES Editor Jayanthi Gopalakrishnan interviewed Nassar via telephone on December 9, 2005.

Q: How did you get into trading?

A: I grew up with the markets. I remember my dad, who retired from Prudential after 45 years, talking about IRAs and the marketplace and various financial tools and instruments as they became available. I remember when options were first introduced and even when Charles Schwab came out with his first book. Those were all things that were of interest in our home. I knew from when I was young that I wanted to be in the market.

I made my first real trade while I was in college. So when I graduated, I started at Prudential myself, and started trading with my own money. After many, many mistakes and hard lessons, I basically taught myself the market.

Q: And what were some of those many, many mistakes?

A: The most difficult lessons I learned were how to let go of my opinions before I let go of my money. Itís a clichť, but itís better to lose your opinion than it is your money. When youíre in a trade, obviously you have an opinion about it, and most novices have a hard time letting go of that. Itís a lesson you have to learn the hard way.

Q: That is the hardest one, I think.

A: It really is. Itís what most veteran traders say, but it really is the truth, and it is the essence of trading.




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