The People and Trends That Made 2006 Great for Traders

And although the Commission is already taking back-door steps to further curtail the industry's growth, such as increasing the minimum net-worth requirement for hedge fund investors to $2.5 million, Goldstein's brash and philosophically moral efforts won't soon be forgotten. "It's a power grab" he told The Wall Street Journal. "The SEC is not elected and not accountable to the people, and yet they are making laws." Amen to that and bravo to Goldstein for his courageous efforts.

A legitimate bull market didn't hurt either, with corn and wheat prices jumping upwards of 75% in 2006, icing on the cake for its members who also received a generous buyout deal from cross-town rival Chicago Mercantile Exchange (CME). And although the merger will undoubtedly hasten the demise of the "open outcry" floor trading for which Chicago is historically known, the deal solidifies the Windy City as the world's preeminent capital of risk taking...and risk transference.

Penned in 1972, it's probably the hugely influential Austrian economist's most accessible read. Best of all, the Mises Institute graciously offers the book free in PDF format, along with a number of other resources on this philosophical giant, still underappreciated in the U.S.

It's rare to find a product that doesn't just meet your expectations, but exceeds them on almost every front. CQG, which offers what I believe to be the world's best financial markets data platform, is one such product. Most professional traders are familiar with CQG, which has long been the preferred data and charting system used on the floors of the world's leading exchanges.

What they might not know is that this year, the company again raised the bar with the introduction of CQG Tradeflow, a unique charting tool that gives one an entirely new way to see the "inside" market of widely traded electronic derivatives. Unlike standard price charts, which simply plot price over time, Tradeflow indicates whether traders are hitting bids or taking offers, giving one an early indicator of who happens to be moving the market — buyers or sellers. Combined with CQG's already extensive software suite, the system presents a value for technical analysts that simply can't be beat.

Even better, on the rare occasion when customer support is required, the company staffs phones with knowledgeable, English-speaking techs across multiple time zones, meaning there's never a time when the market is moving and you're waiting on hold. For the serious trader who values the highest quality charts, CQG simply can't be beat.

And if you still cringe at the bad memories associated with stocks like Cisco Systems (CSCO), Sun Microsystems (SUNW) or Time Warner (TWX), you might be served by taking another look. Cisco has logged an impressive 60% year-to-date return, with many others, including longtime laggard Microsoft (MSFT), all notching comfortable double-digit gains. As difficult as it is to put one of these former highfliers in a portfolio, the diligent value investors will undoubtedly find other oft-despised stocks ready for their second coming.

After mingling with the beautiful people, guests of the hotel can retire to spacious suites featuring floor-to-ceiling windows, panoramic views and the deepest hotel bathtub you'll ever see — perfect for soaking away thoughts of the year's troublesome trades. Prices aren't cheap, but one need not be a Goldman Sachs (GS) employee to afford a stay. Spending $450 a night (plus New York City's jaw-dropppingly high occupancy tax) gets you a drop-dead gorgeous room.

Aspiring masters of the universe should request a high floor corner room facing southwest for a crystal clear balcony view of New York's financial district, the glittering city providing optimum inspiration for the promise of a New Year and all big trades yet to be made.