You may have heard of the rich day trader: traders who make large, frequent trades, betting that the market will rise or fall sharply. The rich trader is essentially someone who has a high tolerance for risk, who loves to beat the market and often makes a large sum of money for doing so.
The chart below shows that top 10 traders have lost on average $13,900 this year.
The stock market has hit new record highs: In the same time period, the Dow Jones industrials has doubled to 21,500; the Standard & Poor’s 500 index has added 3.1 percent; and the NASDAQ composite index is up 17 percent.
In a move designed to highlight the growing influence of the Islamic State, Saudi Arabia will launch a $500-million fund for “defending Islamic countries” in December, the Saudi Press Agency reported Wednesday.
The initiative, which aims to raise up to $8 billion for military activities, will be established within the framework of a new defense cooperation program, which could be launched in 2015, sources told Saudi Gazette.
The new program “will focus on the development of cooperation between security forces, law enforcement agencies and economic sectors in supporting defending Islamic countries and the region for the future,” the source added, as cited by the agency, stressing that the initiative will be launched within the framework of a separate defense cooperation program that is also in the early stages of being drafted.
The source noted that “there will be a major increase in military spending at the regional level after the implementation” of the development funds.
Saudi Arabia has been fighting an ongoing military operation in Yemen since March 2015, after which the Saudi-led military coalition announced its first successful strike on the Islamic State’s stronghold of Raqqa in Syria.
On July 24, Saudi Arabia announced that it has killed 3,426 of Islamic State’s fighters in Syria and Iraq.
The kingdom has also stepped up its presence in Iraq, with at least 40 more ground troops to be deployed this year, according to several reports.
The Saudi-led military coalition began an incursion in Syria on March 27 following the ouster of President Bashar al-Assad.
The coalition is supported by several Arab countries and Iran with weapons and special forces.
The United States military has just been granted clearance and funds to conduct more training and operations inside of Libya during the next several months, despite the fact that the country is in free fall since its 2011 revolution. The program
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