Before we begin, just what is a boxer promoter? The first thing to clarify is that a promoter is not a manager. It’s often said that the manager's job is to look out for the interests of the boxer. The promoter's job, on the other hand, is to look out for the interests of the promoter. The promoter is responsible for every single aspect of a boxing match, from legal compliance to the colour of the paper cups.
Because the promoter is responsible for almost every part of a fight, they often take the largest share of the profits.
The biggest boxing promoters in history
Let’s have a look at the five richest boxing promoters in history:
But what does this all mean for traders?
||Curtis “50 Cent” Jackson
Well, unlike most boxers, who only earn big money from their victories, boxing promoters make huge sums of money whatever the outcome. Successful promoters are experts in risk management.
Trading too requires a masterful understanding of risk. There’s no way to guarantee a market will move in your favour – it’s all about minimising your losses when they don’t.
George Soros put it best: “It’s not about being right or wrong. Rather it’s about how much money you make when you are right and how much you don’t lose when you are wrong”.
It’s a valuable lesson for traders, and one all who succeed in this game have to learn. To freshen up your risk management skills, we have recorded a webinar
on the Principles of Risk Management. To view it, click here
We will be back with more updates in the New Year. ThinkMarkets and Amir Khan wish you a wonderful holiday season.