Risky TV Business
According to Germany’s Joachim Llambi, dance juror of the TV show “Let’s Dance” and stock broker, “the TV business is riskier than the stock market.” He explains why he won’t abandon stock trading despite his TV fame and why self-discipline is so important to him.
In an interview with Germany’s Handelsblatt, LLambi explains that both the stock market – where one has to juggle numbers – and dancing require a disciplined approach.
How does a man, who is engaged in multiple TV shows, gives dance workshops and holds seminars still find the time to stay active in the stock market? According to him, there is still plenty of time for those activities. While he is no longer as active on the trading floor as he once was, he does follow the stock market closely as a personal investor. But he only spends about one third of his available time on his trading activities. Yet, these days, he gets to keep 100% of the profits generated via such trading.
When asked if he is a classical day trader, Llambi somewhat agrees. He claims that he is mainly focused on the short term, and that he closes out all of his positions by the end of the trading day. But he does not only pay attention to intraday market fluctuations; he also spends time analyzing the companies behind those abstract figures.
When it comes to the question as to whether stock trading or the TV business is riskier, Llambi states that, in the stock market, he is afforded the “daily opportunity” to lose money and always runs the risk of being right or wrong. Show business on the other hand is also a very short term and fast moving business. Once the viewers no longer like you, that’s all she wrote. So in the end, the risk you encounter in the stock market is smaller because a person has more influence over the ultimate outcome of events.