Howard Seidler was a turtle. His one man company is called Saxon Investment Corporation.
Q. When did you first become involved in the markets?
A. My first exposure was actually as a child, since my father dabbled in the markets. When I was in high school, I became aware of the futures markets. Futures fascinated me because of the symmetry of being able to go short as well as long. I was also attracted by the potential for leverage. As I began to read about the futures markets, the general description seemed to be: Here’s this game, and by the way, hardly anyone ever succeeds at it. To me, that was like throwing down the gauntlet. I opened up my first account for $1,000 in high school. I had saved up that money by doing chores. It took me a little over a year before I lost it all.
Q. What advice would you give someone in regards to being successful in the markets?
A. I think the single most important element is having a plan…