July 23, 2010 at 4:21 PM
Today, I set up a trading account at TDAmeritrade for the Kapitall interns. I allocated each $1000 to trade in my account. While I have veto power for anything stupid they might do, they have full discretion. After spending time with practice portfolios, knowing the money is real creates a whole new level of stress. It makes me want to come into the office each day just to watch.
I am reminded of the old days when I would hire new traders and harass them mercilessly into learning how to be a good trader. You would think that kind of oppression would discourage talented people, instead they enjoyed it. I think we all enjoyed it, the key was to never be mean or raise your voice. And at the end of the day have a useful lesson expressed in a serious and thoughtful way. While I wasn't always good at following the yelling rule, I knew my teasing was working when the young traders started coming back at me.
You can follow their trading antics at a blog they created called Summer Investor.