Excerpted from Trading Wizards Bruce Kovner Interview:
Bruce Kovner started with a $3,000 stake in the futures market which he has parlayed into a multi-billion dollar hedge fund empire called Caxton Partners.

"...Michael (Marcus)* taught me one incredibly important thing...he taught me that you could make a million dollars. He should me if you applied yourself great things could happen. It's very easy to miss the point that you really can do it. He showed me that if you take a position and use discipline, you can actually make it."

"...he also taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. he taught me about making your best judgement and being wrong, making your next best judgement and being wrong, making your third best judgement and being wrong and then doubling your money." ---Bruce Kovner

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