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MEET
JOSEPH BARBUTO 44
Home/Office location
Long Island, NY Age
59
Years trading
25
How did you start trading?
Around 1987, I was working for a small electronics company that Bear Sterns took public. This gave me some insight into the reality of small public companies. I started playing with penny stocks. What I learned about penny stocks was that I didn’t want to trade penny stocks.
I’ve also used traditional advisors. I had a “friend” sell me Class A shares in a mutual fund instead of the Class B shares that I requested. On Class A shares he gets his commission upfront. When I confronted him about this, he said that “it’s because this is a great fund, so they don’t offer B shares.” I reminded him that there are thousands of mutual funds. I concluded it’s human nature for my friend, the broker, to put his needs before mine. My financial advisor friend once told me that “I don’t have time to follow the market like you do because I have to spend my time looking for clients.” Eventually, I learned how to trade naked puts and
1. Brokerage accounts on two screens 2. Vectorvest for writing scripts and find trading ideas 3. Daily market trends 4. ETFDB for trade ideas & Finviz heatmap 5. tastytrade 6. Echo Show for calendar updates 7. iPad for Zooming with trader friends
Luckbox | January / February 2022
2201_TRENDS_trader.indd 44
12/17/21 2:42 PM
