Main Street investors, who cannot trade credit default swaps, should not be tempted to trade an instrument with the same risk profile simply because it has been given a different name.

Consumer groups fought hard to provide investor protections for 'special entities' such as pension funds, schools, and municipalities who purchase swaps. No comparable protection exists in the futures market.

I believe we're all endowed with a very small set of narrow skills that make us unique. You've got to find what that is. Most often what you truly understand makes you unique is something that you're also going to build passion around.

Nothing replaces real-life experience. Of course, I say this as someone who went to law school.