When it comes to getting a steady paycheck, Hollywood is a risky business for celebrities who aren’t commanding lead roles. Larry Guli, who has recurring guest roles on “Curb Your Enthusiasm” and “General Hospital,” started his acting career after he retired in 1995 from Wall Street where, in 1971 at age 25, he was the youngest person ever to make partner in a Wall Street firm.
Today, he remains a day trader, but that activity holds such inherent financial risk that he says he doesn’t consider it to be part of his overall investment portfolio. Here are Guli’s tips for those who are willing to take on day-trading risks: He sets aside a specific amount of money to trade. He looks for patterns of likely future trends, either up or down, sets sell prices and dumps short-term losers. The name of the game is to preserve your capital, he says. He reinvests all profits and capital, because he believes that that is the way to make your day-trading investment grow. Guli says if you do your homework, you might gain 50 percent on your capital annually.
Guli uses a money manager to handle his long-term investment portfolio. He has 60 percent in conservative investments, 20 percent in midrisk investments and 20 percent in high-risk investments. He refused to mention specific examples.