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Wall Street Insane: EP01 The Horror Stories Begins!

I have listened and a made list of few take-away which I would like to share with the community.

    1. Started in 1999, busted during tech bust, James lost home. Present at Ground Zero during 9/11 World Trade Center Attack.

    2. Wrote programs which were top viewed at Wealth Lab Community.

    3. Started intraday trading, made small gains in 95% of trade and big lost at rest of them.

    4. Trading Strategy, Built a system -> Figure position size -> Adjust System -> Manage your emotions.

    5. Need to answer question like are we trading to make money, to pay our bills or are we build a business, track record?

    6. Interacted with every scandalous person/newsmaker in business including Bernie Madoff, Stevie Cohen, John Paulson.

    7. PIPE (Private investment in public equity), Directly making the deal with CEO and buying stock at discount. Most of the time, it would be 50% in a mid-sized company. Funds would do PIPE trades at the end of month to show 100% profit.

    8. Sales peeps want people to like them so that they can close out the deal at a faster level.

    9. Money acts as magnet to fetch more money for investment. More money you have in funds, the more people would invest big chunks of money with you.

    10. In business and life, don’t ever under-price yourself thinking that it will get you where you want to go because it’ll have the opposite impact.

    11. In Europe, if you have built out a bad reputation you are a gone guy unlike in US where everybody have a bad name attached to them.

    12. If somebody really needs our money, it’s a bad sign.

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