What I Learnt As a Trader
2024 ж. 13 Мам.
43 669 Рет қаралды
This is a clip from an interview with Waterstones on Gary's book, The Trading Game, coming this March.
UK readers: A special pre-order offer now available for 20% off at Waterstones with discount code: TTG2024
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Performed by Gary Stevenson
@garyseconomics
Gary's upbringing sounds very similar to mine. I also had to share a tiny 8 foot by 8 foot box with my brother and we're both over 6 foot. What I think has happened to Gary is similar to what i was going through. If you grow uo working class but ambitious, you are driven by your bitterness and the unfair situation you feel you were in. As soon as you start to do well, you look around at who you're working for and who you're working with and it creates an existential crisis. You realise that getting ahead in life as an individual will not change the broken system we are left with. I'm very appreciative of Gary's voice and I am really watching in horror as his predictions become reality.
Upbringing similar to millions of other children in UK. Not all bitter and resentful, looking for a mental health crisis. That glass could be half full!
What a load of nonsense. All it demonstrates is the system allows people to succeed if you put your mind to it. Surely that's a great thing? You can stay in your little box if you want. Any bitterness and jealousy is part of upbringing and character.
What's broken ? Don't decide to have an addiction. Work, get a better job. Don't decide to spend more than you earn on things you can barely afford.
The replies to this comment reveal that many people really powerfully don't want to accept what Gary Stevenson is saying in his videos about structural inequality in the money system. This blind spot is fascinating. What is the advantage to them of the world view that they are trying to hold on to so desperately, against all the evidence of their own eyes?
People don't 'decide' to have addictions.@@AdamMcRae1
"So they think this money is a path for me to bring happiness for my family. They don't realise that actually it's taking me away from my family." Wow ! what powerful words. If only more people realised just how toxic, corrosive and damaging money is to us, to our society, money actually separates us from the most beautiful things in our world, our families, love, the oxygen our souls breathe . . . Great Interview Gary
A person’s relationship with money 💴 reveals so much about what they’re about
You are not just a smart in your field of expertise Gary, you are also extremly emotionally intelligent. I totally love who you are. The great package of authenticity, smart head and emotioanlly intelligent AND totally charming. You are nobody's fool, you can self reflect and make some very smart gutsy decissions. YOU go, keep doing what you believe in. I somewhat stumbeled across your youtube channel a while ago. I cannot recall how, but thanks God I have.
Kinda fabricated his story. Ask someone who has a Bloomberg terminal and look up his name and infos... I guess sells better to subscribers
sorry, what exactly is your point? @@hfhfhf11
Gary's insight on money and its impact is truly eye-opening. It's refreshing to see someone discussing the toxicity of money and the true value of family and love. Keep spreading this important message, Gary!
Something ain't adding up with your channel.
Thank you for the amazing work you're doing Gary👍
So polite no f bombing 😂 this time Gary ! Seriously this is your time, all power to you your book your message ... Watched you way back on Channel 5 with Brian Cox so glad this movements building up Everyone's sick of the system, it needs changing and we're all with you & behind you ! Sure your book will hit can't wait 🙌
Gary is not the typical person I met in asset management or investment banking. He has Russell group university education background but not from middle or upper class background well travelled , sports etc
Thanks for posting this Gary!! Keep on shouting out!!
Fuckinell mate , I ordered my book from my local independent hipster book worm , no 20% for me ffs. I'll see it as a fuckin investment in you and the fight which has been going on older than you my bro ✊🏽 GO on Gazman , respect.
Good interview. Thanks Gary for shining a light on how the top behave,
Top of the pond - shit floats! :-))
Nice vid, Gary. I will order the book, if only because I always wondered how any of those well-paid traders ever manage to get out before they are eaten alive by greed and burnout. Once you start to buy in to the trophy lifestyle (expensive spouse, costly education for the kids, essential second home in Gloucestershire, multiple holidays, bit of a coke habit, blah blah), it can't be easy to turn your back on the money. It's surreal enough to watch from afar. Can't imagine what it must have been like to be in the middle of. Sounds like the book will lift the lid a bit. And maybe this is the moment when some sort of re-set starts. Here's hoping. .
Been watching your channel since the beginning. Just pre-ordered your book. Good luck with this path you are following - you've got more chance of enlightening the next generation than anyone else I've seen on KZhead or social media. 👍
I really can't stress how much I respect Gary! He is so real! Just think what the world would be like if most people were that open and honest.
"when you got no money, everything is a positive bet" 😂😂😂😂 Very very true.
Great interview Gary!! The word is spreading...
Brilliant video, I’m buying your book can’t wait , good luck with it
I swear I'm literally counting down the days for the release of this book
Me too boss!
Great interview, looking forward to the full version
I’ve already pre-ordered the audiobook via audible and have now just pre-ordered the book via Waterstones too. Just to make you aware, I wasn’t able to select “collect in store” for your book as it was unavailable, so I had to pay post. This isn’t an issue for me but may put others off.
money is a tool, greed is a theif of time
Great interview love to see moee of them
Love this dude , keep preaching!
Looking forward to reading the book.
Great answer to the final moral question. That dilemma was squared the moment you decided to pivot back, Gary. Staying as a betting trader would have created the internal contradiction the questioner was pointing at.
What a great channel this is! I am so glad I found it!! Book preordered, can’t wait to read it 👍🏻 Thank you Gary 👌
Excellent interview- the characters sound fascinating, and your descriptions are very vivid. I expect that the book will be massively enjoyable. Thanks for your work. PS- If you come to America, you might enjoy a stop here in Burlington, Vermont. It's where Bernie Sanders began his political career as mayor and also the home of the University of Vermont, the state's largest.
It would be nice to do a book tour in America. Atm I'm super busy here in the UK, but if the book does well in the States I was thinking about maybe visiting in the early summer.
Amazing Gary - can't wait to give the book a listen. Lots of resonance with my own background.
I'm looking forward to the book!
I'm definitely getting the audiobook soon as its out !
Really looking for forward to meet you in Manchester in the house of book and friends ! My name is Leo.
Great listening to you. I'll buy your book fella.
I love these videos and have learned so much and really looking forward to reading your book. Just wondering if you have any other recommendations on reading/podcasts/stuff to watch for a beginner like myself to learn a bit more about economics. Cheers!
I’m sold on the book, especially with the story you have about Caleb. Very interesting and insightful it seems
I've ordered your book. Would be good to get you to sign it one day. 😊
Gary, I'm a big fan of yours and the incredible journey you're on. I would be thrilled to hear your take, maybe in a video, on staying in the UK. An economist recently mentioned that those under 50 might want to think about moving elsewhere... But how serious is it really? Looking forward to your guidance and keep up the fantastic work! Thanks a bunch! 👍 #MentalHealth
Bit rocked that you can so casually say it was all men you worked with. I can't help seeing how that exclusion is directly related to why the work felt so broken and empty. (Saying this while being a huge fan of yours, Gary.)
Gary, you're absolutely full of solid ideas. A fantastic back story; I've watched a number of your interviews... I'm definitely going to get your book.
Great stuff Gary. Sterling work on the recent James O’Brien Full Disclosure podcast too! I went to 99% Indian/Pakistani primary school in the 1980s in Leicester and I felt totally culturally isolated and didn’t benefit in the ways you clearly did, but I did notice the collective approach that local Asian families had. I think because they had come from places that were much poorer, they were much more savvy than their white working class counterparts in how to build wealth, plan and understand economics.
Great interview! I can’t wait to read your book Gary!
You come from exactly the same stuff as all the rest of us, Gazza! :-) We are all the same stuff with some awareness thrown in?! ;-))
Hi Gary, been enjoying your content & book preorder since November. Currently a Front office analyst - what are your thoughts on still looking to pursue a career in markets/trading/IB? A video on the topic would be great.. :)
Hey Gary, Love your content. Keep it up. there is nothing wrong with you making money on the back of our government neglect, I would still be making them bets today mate ❤
Leyton Orient - Football for the love of the game. I just loved those games and the small clubs. Compared to the bigger clubs more professional but something seems missing in those massive stadiums especially at 50 quid a ticket and the box seats and executive suites
I'd love to see Gary and Mick Lynch have a chat.
Really liking this. I worked in IT for a big bank in NY. I remember sitting with a few traders on a rates desk and I was so bored after 10 mins. They weren't trading with their own money it was: sales call, sales price, execute and hedge. They didnt really understand the complexities but loved trying to blind people. I was determined to learn and do it for myself with my own money. I've been doing it in New Zealand (which has the most ridiculous treatment of tax on stocks/ options) which mean you can make a load of money and pay no tax. My story is seeing what I want (maths and physics background), knowing these traders have no real bravery and commitment, arrogant enough to know I could do it. Why do I love it: I think its "easy" money, markets close at 10am here so I have all day with family and pets (don't think I would want to do it in UK or US). My challenge is my emotional state reflects my pnl for the day which is the downside.
Thanks for sharing Gary. You are so open, so engaging - keep going love you
Gary, can you please explain the concept mentioned about "betting on the colapse"? I mean you dont go into William Hill and put a wad on at 500-1. As a trader, how would you do that ? Thanks for the vids and good luck with the cause.
I'm not Garry, but he was an interest rates trader. Basically bet that interest rates would remain low as the economy would not recover. If you're interested look up Interest rate derivatives
He would trade large amounts of debt. Others thought things would recover, that interest rates would rise as things improved. But he could see that government policies and inequality meant that things will only get worse and worse. Until we do something about those dirty people damaging the rest of us.
I'm guessing he borrows £1 billion at 2% and lends it at 3.5%. Then repeats this adjusting the amount and rate. I'm also guessing he does this with currencies.
You also buy gold on the commodities market and therefore ‘bet’ that the price will increase as you expect the price to rise when people lose confidence in the value of their money and thus as a store for their wealth - when interests rates are low and inflation is high, for example. You can also make money the other way around by ‘betting’ on a price of a particular asset falling in an economy that you’re predicting to collapse by short selling that asset (you’ll have to google that). Obviously if no one else is predicting a fall in price then you stand to make a lot, since your gain is someone else’s loss. For example, if you somehow predicted the extent of the global pandemic in the early days before anyone else, you could short sell airline stock and therefore you’d be ‘betting’ that the price would fall.
Your life would make a great film featuring perhaps Ewan McGregor. A sort of Trainspotting meets The Big Short
It's one thing for the rich to try and trade money for happiness. They have that option, whether it works or not. At the very least they can trade money for distractions from unhappiness. Those who are poor and unhappy don't even have that option.
You probably will not read my comment but I would love a reply/video on your opinion of the film In time with Justin Timberlake.🙏.
I bet the books arrives on the odd day that I’m not working from home 😊
This made me tear up a bit
Does Gary have a book coming out?
Spot on re City life. You get very well remunerated , but burn out is high due to the fast pace, 24/7 nature of trading especially, but also sales. At least you didnt work for Vampire Squid, they expect blood from a stone! (Fortunately I didnt either) City is fun in your 20s, starts to drag early 30s and mid 30s is when you should be leaving it(if you've been prudent enough to save) and value your long term health!!!!!
Gary, am I right in saying you are promoting tax assets not work. 👍
What do you think about The Great Taking? In case you don't know there's a documentary and a free book.
Contract work in the oil and gas industry is better. Similar hours and pressure. Less money but still 1 or 200k a yr day rating depending on experience. You are forced to leave after the contract and can spend a yr or two without work between projects.
Book purchased
Gary's Street Wise, this is something the interviewer has no clue about. This is why Gary can make money both ends of the spectrum.
traders don't ruin economies; they capitalise on asymmetries. these asymmetries exist whether traders see them or not.
You're the living embodiment of the Giovanni Ribisi character in Boiler Room, Gary... 🤣
Money only creates inequality and discrimination because the people holding it believe there should be inequality and discrimination by their obnoxious views towards those starting out or coming across incredibly unfair and unjust situations. If you really believe that "you work hard you'll get reward its your fault your poor", look at this list and think again : - debilitating health / disabilities - victims of psychological /physical abuse - people who were conned - people robbed - unfair dismissal - zero hour contract - toxic work environment (not just socially but physically - yes it does still exist unfortunately no law or regulations prevent psychopathic people existing or running businesses where they can hurt employees).
I am trying to understand where Harry is trying to go with all this. How is he proposing that things change? For many KZhead becomes a source of wealth and influence. Is this Gary's intention? Because it seems counter intuitive to be making money and complaining about inequality
So glad to have found you, Gary. Show everyone the tsunami.
seriously, your work on this front is essential. I agree with you that things could get much worse and it's important that people with your knowledge of the economy and system are on the side of humanity.
What Masters did you study at Oxford? What were the reasons you went back to further studies? I've always had the impression that Economics was incredibly theoretical (hence why it doesn't apply to the real world) Its incredibly easy to attribute certain concepts like productivity and labour to math variables to predict social outcomes but if that were the case then we would see more certain results when the best and brightest individuals with phDs and Masters came up with solutions which doesn't necessarily happen.
I wonder why ppl study pure maths or further maths. What jobs can u get with pure maths?
@@melanieah5501 pure maths teacher
Happiness is not a financial status ( it is true, you can buy things to make you happy but most of the times that is just instant gratitude)
Financial security eases the mind.
Ah just make a bag and secure yourself somewhere, somehow. It's all going to shit and has to frankly. Just try to come out alive on the other side.
Whether we like it or not .. money is directly related to our happiness. It is how you manage your money that really counts .. how you spend your money for others. ❤
I have learnt from this video, that I should have become a trader. Lol
I tried so hard to get my extremely bright son into Grammar but around me they are highly competitive and I thought being academic was enough (with a bit of tutoring and mum helping). What do you think of Grammars? Do you think they should be more freely avaliable?
Grammars are excellent but demand outstrips supply. A way around it is to get the syllabus for every subject that your son is learning at school, and make sure he has covered every single topic within it thoroughly. Usually in comprehensive schools the teacher cannot cover everything properly since they have too many kids in each class.
Garry
🔥
Gary keep going build the movement once people hear you speak their know the truth country has become so corrupt that people don’t think they can change it Edit: Make a podcast
I am hopeless with money. I organise it and then family need some.
The next Reform chancellor? Fancy moving into number 11 Gary?
Once you have money you can live all the dreams but you soon become bored and making money becomes a game between traders on who can make the most regardless of consequences. Once at the top the next step is party’s, woman, drugs. If you’re lucky it will not destroy you. Greed, money, Power is corruptible, Addictive and it take something BIG to stop that cycle.
Liked.
Who will play you in the film adaptation Gary?
👍
One of the most powerful things you can do spiritually is to stop and smell the Roses. The other day I went for a walk with my Girlfriend and our dog, nothing unusual but it struck me how lucky I was. Would I have higher highs? Sure but it just felt like a moment that one day i'd look back on and think "I had it made"
I am dumb but I agree with you a lot.
It’s the so what that’s important….what can we do?
Gary's book seems a fascinating read but I don't understand why the definition of "the best economists" can be evidenced in the amount of money economists are paid? Listening to Gary's logic that people who work in the City of London are no better than working class people who live on the fringe (in different worlds), should provide sufficient evidence. For example Liz Truss sacked the Chief Economist of the Treasury (relatively low paid in comparison to private sector economists) as he advised her against her "Kwasi Economics"!!...The Conservative Cabinet is full of narcissistic self-serving flotsam and jetsam!
Can anyone recommend any long term stock investments like ETFS that don't have Israeli exposure to avoid investing in ethnic cleansing and apartheid
Yet most men working like this are just trying to provide for their families. Not all, but most. Not all industries are like the banking industry.
Vote Gary.....
Trading since 2008 has basically been a form of degenerate gambling
In terms of recognising the difference between what you can control and what you can't control, the average punter can do very little about increasing taxation on the rich on a day-to-day basis. Could you do videos with investing advice? Personally, I've been investing in crypto since 2014. I think it is one way for the average bloke to make once in a generation gains although I know you're not into this asset class. Sure there are plenty of scammers and shitcoins out there but there are ways of sorting the wheat from the chaff and managing risk - as you know.
:)
I heard it said that Rupert Murdoch had an addiction to making deals. John Maynard Keynes, who was an investor himself, said the continual accumulation of wealth was something approaching an illness. It always makes me laugh the hostility that he attracts from free marketeers as if he were a socialist: his ideas were literally about saving capitalism from itself and preserving the bourgeoisie
Where's the money from the book going Gary?
The trading account obvs 🤑
He keeping the blood money😅,
I see you Gary in the Financial Times ….. man you look like a Bond villain In the picture
@@Consult___Gary___now. ?
I was expecting a channel how to learn to trade and some of banks strategies. Not all this speech. I think you can do better and you deserve another target of people
He is right the UK and the working class are broke and it can only get worse, the rich are getting richer and the poor poorer.
Keep hearing about these people who get money and aren't happy, give your money away then, I'll gladly take it. What's that? No you won't? Funny that....
How is someone who shows his acumen, and demonstrates his skills and knowledge year on year above everyone else get called an activist?
Is it possible that some people (like myself) are basic enough to throughly enjoy making a large amount of money. I appreciate that you sell your soul but maybe I don’t have the emotional depth to care that it is shallow and boring.
For further context- I don’t feel like I have the luxury to care too far beyond providing for my family and their future.
cant the government flood the market and build lots of affordable houses?
Garys.... I have listened to a lot of your videos and the explanations... I like them BUT, ... what does the average guy do ? ... all your solutions mostly propose a change of taxation policy,.. other than vote, and you have said yourself than Labour and way less the Tories are not looking to substantially change tax policy. So Tax is not changing any time soon,... what can we do to recover the quality of life we had before the pound/inflation/cost of living etc... I mean other than getting 3 jobs, what can you do, if you are just a guy working for a company paying 30% Tax, while a someone rich pay less than 20% and have more disposable income, better life... the game is rigged, but we need to know how to play... could you tell us :) .... happy face when in fact there is desperation,... I got a 4% raise this year, when my council tax when up 20%, electricity 110%, food 150%, diesel 80%
It is really painful watching fake people put on a show.