People occasionally ask us about the origins of the TopstepTrader moniker. Was it something that came to our founder in a dream? Is it an incredibly long and needlessly complicated acronym? Did a team of marketers conduct a focus group and conclude that Topstep was better than X-tremeTRADZ!! fueled by Mountain Dew? The truth is actually pretty straightforward, but also kind of cool if you're an aficionado of trading history.
Is it possible to be a middle class billionaire? David Tepper would certainly like you to think so. On one hand, he lives in a relatively modest home in New Jersey — then again, he also claims a $50-million mansion in the Hamptons and owns the Carolina Panthers.
He’s unabashedly crude, but actively philanthropic. Many see him as a god-like figure in the world of trading, while others think he's just an “a**hole.” What no one can deny, is that David Tepper is pretty damn good at picking stocks.
Today's installment of the 7 Greatest Trades of All-Time, explores how Tepper made $7-billion buying distressed financial assets in the depths of the Great Recession.
(AP photo via Wikimedia Commons)
In honor of the 7th anniversary of TopstepTrader, we'll be releasing a series of blogs that breakdown the 7 Greatest Trades of All-Time. That's right — from bartering beaver pelts to the Great Recession, we've tracked down the 7 most successful trades in human history (at least in our opinion), and we will bring them directly to your browser over the next two weeks.
To kick things off, we take you back to a time before high-speed microwave trading lines and well… before actual microwave ovens too. This is the story of how Jesse Livermore shorted the Great Stock Market Crash of 1929 and made $100-million in the process — along with a number of enemies.