1 00:00:05,920 --> 00:00:12,119 Speaker 1: Welcome to Trilliance. I'm Joel Webber and I'm Eric belchionis Eric. 2 00:00:12,200 --> 00:00:14,680 Speaker 1: We have a guest here, Sarah Newton. Who is she? 3 00:00:15,320 --> 00:00:18,400 Speaker 1: Sarah Newton is somebody I met digitally. She has a 4 00:00:18,440 --> 00:00:21,000 Speaker 1: handle on Twitter at Phila Trades, and you know, I 5 00:00:21,040 --> 00:00:24,079 Speaker 1: live in Philly, and she started posting stuff on E 6 00:00:24,160 --> 00:00:27,720 Speaker 1: T F S and uh, you know, kind of interacting 7 00:00:27,760 --> 00:00:29,440 Speaker 1: with me, and I got to know her digitally, and 8 00:00:29,480 --> 00:00:33,000 Speaker 1: then I started seeing around the circuit and she's I 9 00:00:33,040 --> 00:00:35,400 Speaker 1: found out her story, which I thought was very interesting. 10 00:00:35,440 --> 00:00:37,280 Speaker 1: And you know, one of the things we vowed to 11 00:00:37,320 --> 00:00:39,760 Speaker 1: do this year was to talk to actual and do 12 00:00:39,840 --> 00:00:43,199 Speaker 1: it yourself investors of ETFs and skip the middleman, the 13 00:00:43,200 --> 00:00:45,199 Speaker 1: asset managers and advisors, which are good to talk to, 14 00:00:45,520 --> 00:00:47,400 Speaker 1: but sometimes it's good, like with my two dads, to 15 00:00:47,440 --> 00:00:50,280 Speaker 1: talk to someone who's out there doing it on their own. 16 00:00:50,280 --> 00:00:52,560 Speaker 1: And unlike my two dads, which are doing a little 17 00:00:52,560 --> 00:00:55,760 Speaker 1: more retirement and estake type work, Sarah is really more 18 00:00:55,800 --> 00:00:58,080 Speaker 1: of a trader. I mean, she is doing it herself. 19 00:00:58,120 --> 00:01:00,520 Speaker 1: She's almost reminds me of like the nine, The's version 20 00:01:00,520 --> 00:01:03,200 Speaker 1: of the day Trader of stocks. She's kind of doing 21 00:01:03,200 --> 00:01:04,640 Speaker 1: it with E t F s and so she can 22 00:01:04,680 --> 00:01:06,280 Speaker 1: share some of those insights I thought, and she has 23 00:01:06,319 --> 00:01:10,720 Speaker 1: an incredible story which we're gonna hear all about this 24 00:01:10,840 --> 00:01:16,760 Speaker 1: time on Trillions Delusional E t F Trading with Sara Hi. Sarah, 25 00:01:16,800 --> 00:01:20,600 Speaker 1: welcome you, Trillions. Hi do So, how did you get 26 00:01:20,640 --> 00:01:26,040 Speaker 1: into E t F trading? UM? Actually, UH, to be honest, 27 00:01:26,560 --> 00:01:28,640 Speaker 1: I first got into e t F s thanks to 28 00:01:29,120 --> 00:01:32,600 Speaker 1: something called finn twit. I was mainly into stocks before that. 29 00:01:32,640 --> 00:01:36,040 Speaker 1: I would just trade common stocks and you started to 30 00:01:36,080 --> 00:01:38,120 Speaker 1: hear more about E t F s UM, so I 31 00:01:38,200 --> 00:01:40,000 Speaker 1: kind of heard of them, didn't really think of it 32 00:01:40,040 --> 00:01:43,759 Speaker 1: as a trading vehicle. I started using finn twit, which 33 00:01:43,840 --> 00:01:47,880 Speaker 1: is uh a subsect of Twitter, and I started following 34 00:01:47,920 --> 00:01:52,520 Speaker 1: people like Eric Dave Nadie would post um Christian Fromhertz, 35 00:01:52,560 --> 00:01:56,120 Speaker 1: who is actually a trader much like myself, And a 36 00:01:56,160 --> 00:01:58,040 Speaker 1: great thing to follow with the t F S is 37 00:01:58,080 --> 00:02:02,920 Speaker 1: the flow it. It helps you UM visualize the sector rotation, 38 00:02:03,000 --> 00:02:06,640 Speaker 1: which is a big, big part of UM swing trading. 39 00:02:07,080 --> 00:02:10,000 Speaker 1: So that's how I initially got my INN and then 40 00:02:10,040 --> 00:02:14,600 Speaker 1: it kind of segued into something more risky like UM options. 41 00:02:14,639 --> 00:02:17,320 Speaker 1: But you weren't a trader to start with right, you 42 00:02:17,320 --> 00:02:19,800 Speaker 1: were just doing this on the side, right, Okay, So 43 00:02:21,680 --> 00:02:24,480 Speaker 1: all right, let's let's start with my back story. I 44 00:02:24,520 --> 00:02:28,000 Speaker 1: started investing, I guess, I can't say trading. Started investing 45 00:02:28,040 --> 00:02:31,519 Speaker 1: in the fifth grade. Fifth grade. It's a crazy story. 46 00:02:31,800 --> 00:02:33,920 Speaker 1: A father of one of the kids in my class 47 00:02:34,520 --> 00:02:39,000 Speaker 1: got extremely wealthy during this time period donated twenty dollars 48 00:02:39,280 --> 00:02:43,399 Speaker 1: to us to trade, So he was actually making placing 49 00:02:43,440 --> 00:02:47,840 Speaker 1: trades based on what we're picking. I know, I know, insane, insane. 50 00:02:47,919 --> 00:02:49,880 Speaker 1: At the end, it didn't matter what we made, what 51 00:02:49,919 --> 00:02:51,560 Speaker 1: we lost, he was going to keep it. It was 52 00:02:51,639 --> 00:02:53,400 Speaker 1: his money. So he was your broker, and you were 53 00:02:53,400 --> 00:02:55,000 Speaker 1: just calling him up and like telling him what to do. 54 00:02:55,320 --> 00:02:57,160 Speaker 1: I don't even know how our trades are submitted, to 55 00:02:57,160 --> 00:02:59,360 Speaker 1: be honest, but um, we picked I think as a 56 00:02:59,360 --> 00:03:02,120 Speaker 1: class we picked uh ten and um. When I was 57 00:03:02,160 --> 00:03:06,280 Speaker 1: in the fifth grade, it was the dot com bubble. Actually, 58 00:03:06,280 --> 00:03:08,080 Speaker 1: when I started the fifth grade, we didn't know it 59 00:03:08,120 --> 00:03:10,880 Speaker 1: was a bubble quite yet. So what we would do 60 00:03:11,200 --> 00:03:14,919 Speaker 1: is pets dot com, I'm all in. We would use 61 00:03:15,639 --> 00:03:19,520 Speaker 1: I believe it was the Wall Street Journal, and we 62 00:03:19,560 --> 00:03:22,720 Speaker 1: would literally paper trade. And this is not the paper 63 00:03:22,720 --> 00:03:25,520 Speaker 1: trading that people know of today. This is use the 64 00:03:25,560 --> 00:03:29,160 Speaker 1: newspaper to trade. We would write down our stock selection. 65 00:03:29,280 --> 00:03:32,160 Speaker 1: We would track the stocks every week, and at the 66 00:03:32,240 --> 00:03:35,920 Speaker 1: end we started with at the end we we ended 67 00:03:36,080 --> 00:03:39,320 Speaker 1: somewhere in the fifties. Um, so this guy made money 68 00:03:39,320 --> 00:03:42,000 Speaker 1: off a bunch of fifth graders. So, as you can imagine, 69 00:03:42,040 --> 00:03:44,040 Speaker 1: it was an experience of a lifetime. It's stuck with 70 00:03:44,120 --> 00:03:48,760 Speaker 1: me and my My mother always stocked picked a cash account. 71 00:03:49,000 --> 00:03:51,320 Speaker 1: My dad actually left his job for a little bit 72 00:03:51,360 --> 00:03:53,800 Speaker 1: to try his hand at day trading. So I wasn't 73 00:03:53,800 --> 00:03:56,920 Speaker 1: a stranger to this field. So being that age, seeing 74 00:03:57,120 --> 00:04:00,240 Speaker 1: these astronomical returns, I was like, I'm gonna get rich 75 00:04:00,240 --> 00:04:02,800 Speaker 1: one day. This is one I'm gonna do. So fast 76 00:04:02,840 --> 00:04:05,960 Speaker 1: forward to you're out of college, out of you go 77 00:04:06,040 --> 00:04:08,920 Speaker 1: into investing or well listen, hold on before we get there, 78 00:04:08,960 --> 00:04:12,120 Speaker 1: I'll just go really quickly. And I always stock picked. 79 00:04:12,160 --> 00:04:14,800 Speaker 1: I stock picked my mom's cash account when I was 80 00:04:14,840 --> 00:04:17,919 Speaker 1: in high school. You know, us traders out there, we like, 81 00:04:18,120 --> 00:04:19,800 Speaker 1: we like to lay our claim to fame. So I 82 00:04:19,880 --> 00:04:22,400 Speaker 1: just gotta put this out here right now. I wrote 83 00:04:22,440 --> 00:04:25,680 Speaker 1: my mom a note to get into Google. I said, 84 00:04:25,720 --> 00:04:28,120 Speaker 1: Google's pong tomorrow. I need you to buy me a 85 00:04:28,120 --> 00:04:32,480 Speaker 1: few shares. Um. Those few shares fast forward after college 86 00:04:32,839 --> 00:04:37,000 Speaker 1: helped me fund honestly where I am today. So I 87 00:04:37,080 --> 00:04:39,680 Speaker 1: was one of Google's first investors. Those hold on all 88 00:04:39,720 --> 00:04:42,080 Speaker 1: those c NBC articles that you see about. I was 89 00:04:42,080 --> 00:04:44,760 Speaker 1: going to say that was me because I hate those 90 00:04:44,800 --> 00:04:49,040 Speaker 1: I think they inspire lottery picking and like. But you're 91 00:04:49,080 --> 00:04:51,200 Speaker 1: one of those people. I'm going to soften my stance 92 00:04:51,200 --> 00:04:54,120 Speaker 1: a little because it worked for you. But they'll they'll say, oh, 93 00:04:54,120 --> 00:04:57,960 Speaker 1: if you were only invested in Google, you know, twenty 94 00:04:58,040 --> 00:05:00,320 Speaker 1: years ago, here's how much that that money would be worth. 95 00:05:00,600 --> 00:05:02,560 Speaker 1: But there were a lot of other companies that written 96 00:05:02,600 --> 00:05:06,800 Speaker 1: by Sarah Newton. Okay, so you had some seed money 97 00:05:06,839 --> 00:05:11,120 Speaker 1: from hitting the jackpot. Yes, I did. But okay, fast 98 00:05:11,160 --> 00:05:14,080 Speaker 1: forward to college. I went to college during the Great Recession. 99 00:05:14,120 --> 00:05:16,680 Speaker 1: It was a horrible whole world time, especially since I, 100 00:05:17,040 --> 00:05:19,559 Speaker 1: you know, it was pretty familiar with stocks, had money 101 00:05:19,560 --> 00:05:22,800 Speaker 1: in stocks, and had access to my mom's for one K. 102 00:05:23,040 --> 00:05:25,920 Speaker 1: So I watched that thing get cut in half. It 103 00:05:25,960 --> 00:05:30,120 Speaker 1: was devastating, and I thought to myself, I don't want 104 00:05:30,120 --> 00:05:32,480 Speaker 1: anything to do with this. So I left the world 105 00:05:32,520 --> 00:05:36,000 Speaker 1: of investing. Um. Actually, now that i'm thinking of it, 106 00:05:36,080 --> 00:05:39,800 Speaker 1: I'm pretty sure that I own some fracking stock still 107 00:05:39,839 --> 00:05:41,719 Speaker 1: to this day, because they were big at that time, 108 00:05:42,000 --> 00:05:44,440 Speaker 1: and I still have not looked at that account since 109 00:05:44,440 --> 00:05:47,440 Speaker 1: two thousand. Anyways, al right, not to get too off track, 110 00:05:48,000 --> 00:05:50,440 Speaker 1: I left, and you know, it was really hard to 111 00:05:50,800 --> 00:05:53,800 Speaker 1: hard time to get a job, and I took the 112 00:05:53,839 --> 00:05:56,400 Speaker 1: first job I could get, and that was in consulting. 113 00:05:56,520 --> 00:05:59,000 Speaker 1: And so I went into consulting after graduation, which is 114 00:05:59,040 --> 00:06:02,680 Speaker 1: in like two thousand, two eleven, and I was making 115 00:06:02,680 --> 00:06:05,680 Speaker 1: a career as a consultant when my mother, UM, my 116 00:06:05,760 --> 00:06:09,880 Speaker 1: mother got sick. UM I had to leave consulting to 117 00:06:09,920 --> 00:06:13,520 Speaker 1: be her primary caregiver. Um. She had breast cancer, which 118 00:06:13,960 --> 00:06:15,880 Speaker 1: you know, at first, doesn't it doesn't sound like that 119 00:06:15,880 --> 00:06:20,000 Speaker 1: big of a deal. People actually go through chemo and work. Unfortunately, 120 00:06:20,080 --> 00:06:22,520 Speaker 1: my mother was already sick with kidney disease, so she 121 00:06:22,680 --> 00:06:25,520 Speaker 1: was on chemo and dialysis at the same time, and 122 00:06:26,320 --> 00:06:29,560 Speaker 1: it really required full time caretaking. So I left consulting 123 00:06:29,720 --> 00:06:32,960 Speaker 1: and I went to care for her. And you know, 124 00:06:33,040 --> 00:06:35,960 Speaker 1: at this period of time, I was like the rest 125 00:06:36,000 --> 00:06:37,839 Speaker 1: of my friends, you know, had been in the workforce 126 00:06:37,880 --> 00:06:40,360 Speaker 1: two to three years. They started getting promotions, their lives 127 00:06:40,360 --> 00:06:43,200 Speaker 1: started taking off. I mean, it really hurt. It was 128 00:06:43,240 --> 00:06:45,400 Speaker 1: hard to watch. I had always been like a great 129 00:06:45,400 --> 00:06:49,200 Speaker 1: student in college. I was successful in my career, and 130 00:06:49,240 --> 00:06:50,840 Speaker 1: it was it was hard to take a back seat 131 00:06:50,880 --> 00:06:54,440 Speaker 1: to that. And um, at this point in time, you know, 132 00:06:54,480 --> 00:06:57,280 Speaker 1: the market had started to rebound, things were looking better. 133 00:06:57,480 --> 00:07:01,320 Speaker 1: And I think, honestly, when I try and think back 134 00:07:01,360 --> 00:07:03,279 Speaker 1: of like what was like the light switch a moment, 135 00:07:03,560 --> 00:07:07,039 Speaker 1: I think my mom might have accidentally because she was 136 00:07:07,080 --> 00:07:10,000 Speaker 1: not a frequent watcher of CNBC. I think either she 137 00:07:10,160 --> 00:07:11,840 Speaker 1: had it on or I honestly might have been in 138 00:07:11,880 --> 00:07:14,560 Speaker 1: a doctor's appointment and it was on in the waiting room. 139 00:07:14,600 --> 00:07:17,040 Speaker 1: I can't remember exactly how it happened, but like the 140 00:07:17,120 --> 00:07:18,600 Speaker 1: light switch went off, and I was like, I should 141 00:07:18,600 --> 00:07:22,640 Speaker 1: get back into this. Why did they did you when you? 142 00:07:22,800 --> 00:07:25,200 Speaker 1: I thought to fifth grade and how much money I made, 143 00:07:25,240 --> 00:07:27,400 Speaker 1: and I was like, oh, clearly, I can you know, 144 00:07:27,600 --> 00:07:30,200 Speaker 1: make a living easily doing this and were in a 145 00:07:30,240 --> 00:07:32,960 Speaker 1: place where you were like it was hard and you 146 00:07:33,000 --> 00:07:36,160 Speaker 1: guys needed the money. Oh no, No. I was more 147 00:07:36,280 --> 00:07:41,200 Speaker 1: at the standpoint that you know, when you're life like, 148 00:07:41,360 --> 00:07:45,240 Speaker 1: finance is compounding. When you're not doing anything, you're losing everything. 149 00:07:45,280 --> 00:07:47,600 Speaker 1: And I was losing my career and I needed to 150 00:07:47,640 --> 00:07:50,600 Speaker 1: figure something out for myself. Um, I think that is 151 00:07:50,720 --> 00:07:58,640 Speaker 1: a very um common treat intrinsic two females. A lot 152 00:07:58,640 --> 00:08:01,440 Speaker 1: of times we're put in these hard situations. You know, 153 00:08:01,520 --> 00:08:04,960 Speaker 1: many of us become caretakers at all different points of 154 00:08:05,000 --> 00:08:08,160 Speaker 1: time in life. Like hopefully, hopefully a lot of us 155 00:08:08,200 --> 00:08:09,920 Speaker 1: don't have to do it as young as I had 156 00:08:09,960 --> 00:08:13,080 Speaker 1: to do it. Um, I know there are probably a 157 00:08:13,200 --> 00:08:16,560 Speaker 1: lot of people actually my age that coming up soon 158 00:08:16,600 --> 00:08:18,800 Speaker 1: are going to have to do it. Um, my parents 159 00:08:18,800 --> 00:08:22,360 Speaker 1: were boomers. I'm pretty sure your parents are boomers. Um, 160 00:08:22,360 --> 00:08:25,000 Speaker 1: it's just something. It's something that's coming. There's not enough 161 00:08:25,000 --> 00:08:27,040 Speaker 1: workers in the field to care for all these people. 162 00:08:27,280 --> 00:08:30,600 Speaker 1: There's not enough finances to pay for it, and people 163 00:08:30,640 --> 00:08:33,440 Speaker 1: are going to have to bite the bullet and you 164 00:08:33,480 --> 00:08:39,000 Speaker 1: know do caretaking on the side and investing or not. 165 00:08:39,080 --> 00:08:42,480 Speaker 1: Everybody can trade, but investing is definitely helps fill fill 166 00:08:42,520 --> 00:08:46,360 Speaker 1: the void of that income and that lack of exposure 167 00:08:46,400 --> 00:08:49,560 Speaker 1: to the workforce. We basically looked at your life that 168 00:08:49,640 --> 00:08:51,959 Speaker 1: you needed to be making some money, that you were 169 00:08:51,960 --> 00:08:53,800 Speaker 1: out of the game, but you could get back in 170 00:08:53,840 --> 00:08:56,679 Speaker 1: the game because you knew some basics exactly, and what 171 00:08:56,760 --> 00:08:59,400 Speaker 1: was your next move? Um? My next move was to 172 00:08:59,480 --> 00:09:02,559 Speaker 1: return to the account that I abandoned and not looked 173 00:09:02,559 --> 00:09:08,080 Speaker 1: at since. And was that your fracking account account? That 174 00:09:08,160 --> 00:09:10,480 Speaker 1: was my account that had actually the fracking stocks, It 175 00:09:10,559 --> 00:09:12,760 Speaker 1: had the Google in it, and I think it had 176 00:09:12,800 --> 00:09:19,280 Speaker 1: some Apple shares, and it was a fifty It was. 177 00:09:19,440 --> 00:09:22,440 Speaker 1: It was a really pleasant surprise. It was not anywhere. 178 00:09:22,480 --> 00:09:24,080 Speaker 1: It was five times I left it at ten. I 179 00:09:24,200 --> 00:09:25,959 Speaker 1: returned and it was five times the size that I 180 00:09:26,000 --> 00:09:28,559 Speaker 1: had left it. It was I had no idea that there. 181 00:09:29,000 --> 00:09:31,560 Speaker 1: I know. Okay, so all these crazy articles you hear about, 182 00:09:31,600 --> 00:09:34,200 Speaker 1: a lot of them happened to me. Don't don't take 183 00:09:34,200 --> 00:09:36,640 Speaker 1: this all with a grain of salt. It's not common. Um. 184 00:09:36,679 --> 00:09:39,200 Speaker 1: So I returned and I had this nice little nest egg. 185 00:09:39,320 --> 00:09:42,319 Speaker 1: And if you look back to that period and time, 186 00:09:42,840 --> 00:09:50,840 Speaker 1: arguably from you two, you know, pretty recently, was like 187 00:09:50,880 --> 00:09:52,600 Speaker 1: a really great time to be in the market. There 188 00:09:52,640 --> 00:09:55,400 Speaker 1: were some extreme draw downs that were really hard when 189 00:09:55,400 --> 00:09:57,720 Speaker 1: you're staring at screens all day every day, but other 190 00:09:57,800 --> 00:10:00,599 Speaker 1: than that, it was a good time to be I 191 00:10:00,880 --> 00:10:02,680 Speaker 1: like to call it what I did in the beginning 192 00:10:02,880 --> 00:10:06,040 Speaker 1: active investing, because it wasn't it wasn't trading. I wasn't 193 00:10:06,040 --> 00:10:08,080 Speaker 1: staring at the screen all day every day because you know, 194 00:10:08,120 --> 00:10:10,679 Speaker 1: I was a caretaker. Um, that took up most of 195 00:10:10,720 --> 00:10:15,560 Speaker 1: my time. So more like active investing, like something in 196 00:10:15,600 --> 00:10:18,520 Speaker 1: between long term investing in swing trading. That's what I 197 00:10:18,559 --> 00:10:20,760 Speaker 1: was doing during that period of time. When you started 198 00:10:20,800 --> 00:10:23,480 Speaker 1: doing this sort of trading for yourself. Can you remember 199 00:10:23,520 --> 00:10:25,360 Speaker 1: the first E t F trade you did or what 200 00:10:25,640 --> 00:10:29,360 Speaker 1: started off the E t F portion of your account? Oh, 201 00:10:29,440 --> 00:10:32,200 Speaker 1: I'm positive the first E t F trade I did 202 00:10:32,240 --> 00:10:34,520 Speaker 1: a spy without a doubt. I'm pretty sure that's everybody's 203 00:10:34,600 --> 00:10:40,320 Speaker 1: set of training wheels exactly. Um. You know, I really 204 00:10:40,800 --> 00:10:43,960 Speaker 1: think at first when I got into E t fs 205 00:10:44,559 --> 00:10:47,679 Speaker 1: pre fin twit, I really just thought they covered the indexes. 206 00:10:48,040 --> 00:10:51,840 Speaker 1: You know, I think my knowledge, my knowledge pre Twitter 207 00:10:52,720 --> 00:10:55,840 Speaker 1: was minimal, but almost in a in a good way, 208 00:10:55,960 --> 00:10:58,920 Speaker 1: not minimal, simplistic, I'll say simplistic. And I think that 209 00:11:00,440 --> 00:11:03,480 Speaker 1: was a double edged sword. Um. I think in some 210 00:11:03,520 --> 00:11:06,360 Speaker 1: ways it saved me a lot of pain. But you know, 211 00:11:06,440 --> 00:11:10,080 Speaker 1: there's still a lot of more innovative opportunities that I 212 00:11:10,120 --> 00:11:12,439 Speaker 1: didn't know about because of it, and E t S 213 00:11:12,520 --> 00:11:15,480 Speaker 1: would be one of them. So I did. I definitely 214 00:11:15,520 --> 00:11:19,280 Speaker 1: did have money in spy. Um, nothing fancy, nothing options, 215 00:11:19,320 --> 00:11:23,960 Speaker 1: just sitting in spy prior to Twitter. But post Twitter 216 00:11:24,080 --> 00:11:26,680 Speaker 1: is when I started to get into you know, the 217 00:11:26,800 --> 00:11:29,960 Speaker 1: more exotic e T F. So, so you put would 218 00:11:29,960 --> 00:11:31,520 Speaker 1: you do with that fifty? Did you go all in 219 00:11:31,559 --> 00:11:34,640 Speaker 1: on spy? Oh no, no, definitely not. Um I The 220 00:11:34,679 --> 00:11:37,439 Speaker 1: way that I used to stock pick was not technical, 221 00:11:37,600 --> 00:11:41,640 Speaker 1: not fundamental. It was I would pick stocks that I 222 00:11:41,679 --> 00:11:45,920 Speaker 1: felt like I used the company's a decent amount, and 223 00:11:46,080 --> 00:11:50,880 Speaker 1: that morphed. I started reading different investing books like Jim 224 00:11:50,960 --> 00:11:54,760 Speaker 1: Kramer's books. Um I started searching. Oh my gosh, I 225 00:11:54,840 --> 00:11:57,960 Speaker 1: remember the first thing I searched online was was I 226 00:11:58,000 --> 00:12:00,719 Speaker 1: just typed in stock charts And of course the first 227 00:12:00,760 --> 00:12:02,480 Speaker 1: thing that comes up is stock charts dot com, which 228 00:12:02,520 --> 00:12:05,439 Speaker 1: is actually a really great resource. And I picked up 229 00:12:05,480 --> 00:12:08,040 Speaker 1: a lot of the basics that I know about technical 230 00:12:08,120 --> 00:12:11,200 Speaker 1: analysis from there. So you spy and then you know, 231 00:12:11,280 --> 00:12:13,319 Speaker 1: you've given me here a list of E T s used. 232 00:12:13,400 --> 00:12:15,840 Speaker 1: This is like, you know, level four hundred here, so 233 00:12:15,960 --> 00:12:17,600 Speaker 1: you you definitely went from one oh one to four 234 00:12:17,679 --> 00:12:19,640 Speaker 1: hundred at some point. How did the training wheels come 235 00:12:19,679 --> 00:12:24,720 Speaker 1: Yeah into it? So again and I like double edged Sword, 236 00:12:24,920 --> 00:12:27,920 Speaker 1: but so Finn twit came into my life. And what 237 00:12:28,000 --> 00:12:30,280 Speaker 1: this is is this it's a subsect of Twitter, and 238 00:12:30,360 --> 00:12:33,360 Speaker 1: it has all of the best of the best, also 239 00:12:33,480 --> 00:12:35,920 Speaker 1: with the worst of the worst. Um there's people like 240 00:12:36,200 --> 00:12:40,440 Speaker 1: Eric on there. There are hedge hedge fund managers you 241 00:12:41,080 --> 00:12:45,679 Speaker 1: see in the movies on there. Um there's anonymous accounts 242 00:12:45,720 --> 00:12:50,360 Speaker 1: that are you know, backstage geniuses. Um that you know 243 00:12:50,440 --> 00:12:53,120 Speaker 1: go on there and share their wisdom. And this is 244 00:12:53,160 --> 00:12:57,000 Speaker 1: how I learned most of what I know today. And 245 00:12:57,040 --> 00:12:59,480 Speaker 1: one thing I would recommend for anybody listening who doesn't 246 00:12:59,559 --> 00:13:01,800 Speaker 1: use Twitter, but if you don't have to tweet, but 247 00:13:02,360 --> 00:13:04,520 Speaker 1: one thing I do sometimes if I'm preparing for a 248 00:13:04,600 --> 00:13:06,079 Speaker 1: quick TV hit or something, or I just want to 249 00:13:06,080 --> 00:13:07,800 Speaker 1: see what the latest people are saying about an et F, 250 00:13:08,320 --> 00:13:10,400 Speaker 1: just put cash tag in the e t F in 251 00:13:10,440 --> 00:13:13,000 Speaker 1: the search and you can see all the latest people 252 00:13:13,040 --> 00:13:14,480 Speaker 1: talking about it. I did this for h y G 253 00:13:14,640 --> 00:13:17,200 Speaker 1: recently and there was some interesting charts and things put 254 00:13:17,200 --> 00:13:20,280 Speaker 1: out that really helped deepen what I was looking at. 255 00:13:20,880 --> 00:13:23,680 Speaker 1: And it's free, I mean, it was an amazing quick resource. 256 00:13:23,800 --> 00:13:27,200 Speaker 1: It's like Google on steroids and and very specific. If 257 00:13:27,200 --> 00:13:28,679 Speaker 1: I put H y g Intwo Google, I wouldn't have 258 00:13:28,720 --> 00:13:31,839 Speaker 1: gotten that specificity at that speed. UM, so it can 259 00:13:31,880 --> 00:13:33,560 Speaker 1: really help. And you just put the dollar sign in 260 00:13:33,559 --> 00:13:35,680 Speaker 1: the ticker and you can find everything that people are 261 00:13:35,679 --> 00:13:38,680 Speaker 1: saying about that e t F before you potentially buy it. Yes, 262 00:13:39,240 --> 00:13:41,120 Speaker 1: so if you're new, if you're new to the Twitter 263 00:13:41,160 --> 00:13:43,439 Speaker 1: sphere and you're hearing this podcast for the first time, 264 00:13:43,920 --> 00:13:47,880 Speaker 1: UM finance, Twitter does not work with hashtags. They work 265 00:13:47,960 --> 00:13:50,120 Speaker 1: with what's referred to as a cash tag, and that 266 00:13:50,320 --> 00:13:52,679 Speaker 1: is the dollar symbol. So if there is an e 267 00:13:52,800 --> 00:13:55,720 Speaker 1: t F you're looking to find more research about, like MJ, 268 00:13:56,360 --> 00:13:59,560 Speaker 1: you put in the cash tag or the dollar symbol 269 00:13:59,760 --> 00:14:02,840 Speaker 1: mg A and you can you can filter it by top, 270 00:14:02,880 --> 00:14:05,760 Speaker 1: you can filter it by latest um and you can 271 00:14:05,760 --> 00:14:16,160 Speaker 1: see all different opinions. Fast forward to today, right, you're 272 00:14:16,920 --> 00:14:19,120 Speaker 1: you have your account, right, so e t f s 273 00:14:19,120 --> 00:14:21,040 Speaker 1: are a tool in your account that you use and 274 00:14:21,160 --> 00:14:24,640 Speaker 1: are you riffing off of like economic data or interest 275 00:14:24,760 --> 00:14:26,880 Speaker 1: rates to move money within e t f s? Like 276 00:14:26,920 --> 00:14:30,120 Speaker 1: do you use say like H Y G or t 277 00:14:30,320 --> 00:14:31,760 Speaker 1: L T like do you know what I mean? Like 278 00:14:32,160 --> 00:14:34,600 Speaker 1: a lot of people might use those to play rates. Okay, 279 00:14:34,760 --> 00:14:38,920 Speaker 1: so I use e t f s in way more 280 00:14:38,960 --> 00:14:40,760 Speaker 1: ways than I used to use E T s now. 281 00:14:40,800 --> 00:14:43,120 Speaker 1: I use them in about ten different ways, one of 282 00:14:43,160 --> 00:14:47,320 Speaker 1: them being what you're talking about, UM speaking to economic data. UM. 283 00:14:47,360 --> 00:14:50,440 Speaker 1: Do I trade them all? No? Do I watch them? Yes, 284 00:14:50,520 --> 00:14:53,240 Speaker 1: that's a whole different story. H y g j N 285 00:14:53,360 --> 00:14:56,560 Speaker 1: k U U p UM UP is the dollar junk 286 00:14:56,600 --> 00:15:00,400 Speaker 1: bonds high yield And if I'm to trade anything, it's 287 00:15:00,400 --> 00:15:04,080 Speaker 1: going to be t l T and that's bonds UM. 288 00:15:03,480 --> 00:15:07,760 Speaker 1: I just I think anybody out there who who watches 289 00:15:07,840 --> 00:15:11,320 Speaker 1: bonds has seen the trade that there just was recently 290 00:15:11,520 --> 00:15:15,040 Speaker 1: with the experience volatility. If I'm gonna trade anything, it's 291 00:15:15,040 --> 00:15:18,240 Speaker 1: going to be t LT. The liquidity in it UM 292 00:15:18,240 --> 00:15:21,800 Speaker 1: makes up for the non existent liquidity in the actual 293 00:15:21,840 --> 00:15:24,600 Speaker 1: bond market because as you know, you know, bonds sell 294 00:15:24,760 --> 00:15:28,240 Speaker 1: at different times UM and t l T is the 295 00:15:28,280 --> 00:15:31,240 Speaker 1: twenty plus your treasury, so it definitely is sensitive to 296 00:15:31,320 --> 00:15:34,960 Speaker 1: rates and also sometimes used as a as a crisis hedge, 297 00:15:34,960 --> 00:15:38,480 Speaker 1: like if you think things are getting really bad, t 298 00:15:38,600 --> 00:15:40,680 Speaker 1: LT could be a flight to quality as well. Yeah, 299 00:15:40,760 --> 00:15:43,840 Speaker 1: and I hate to hedge. You know. If if I 300 00:15:43,920 --> 00:15:47,000 Speaker 1: have to hedge, uh, I probably shouldn't be in the 301 00:15:47,000 --> 00:15:49,400 Speaker 1: trade in the first place. I don't use t LT 302 00:15:49,560 --> 00:15:53,520 Speaker 1: to hedge. I do use the volatility instruments to hedge. 303 00:15:53,640 --> 00:15:56,000 Speaker 1: Um there's v x x B, which is is the 304 00:15:56,000 --> 00:15:57,880 Speaker 1: new v x X. But hold, let's there's this thought 305 00:15:57,880 --> 00:16:01,760 Speaker 1: fear for a minute now. The volatility instruments are power tools, 306 00:16:01,840 --> 00:16:04,640 Speaker 1: right right. They hold Vick's futures and so they have 307 00:16:04,680 --> 00:16:07,120 Speaker 1: to roll them, and so the roll, the cost of 308 00:16:07,200 --> 00:16:09,480 Speaker 1: rolling could be like years. So they're they're widely known 309 00:16:09,480 --> 00:16:11,960 Speaker 1: not to hold long term. So you're you're you're kind 310 00:16:11,960 --> 00:16:13,640 Speaker 1: of going in and out of them. But when the 311 00:16:13,680 --> 00:16:16,880 Speaker 1: market has a bad day, nothing goes up like a 312 00:16:17,000 --> 00:16:19,240 Speaker 1: vix et f. It it's up like three or four 313 00:16:19,320 --> 00:16:22,440 Speaker 1: times what a negative three times smp E t F 314 00:16:22,480 --> 00:16:25,560 Speaker 1: would be up like it's the ultimate jack pot if 315 00:16:25,600 --> 00:16:28,160 Speaker 1: you're right. If you're wrong, though, they it's like it 316 00:16:28,240 --> 00:16:30,080 Speaker 1: corrodes on you. So do you do you like kind 317 00:16:30,080 --> 00:16:32,240 Speaker 1: of come in and out of it. I've never held 318 00:16:32,400 --> 00:16:35,360 Speaker 1: a volatility product for longer than two days. I never would. 319 00:16:35,520 --> 00:16:39,640 Speaker 1: There's you can't there's no there's no real chart patterns 320 00:16:39,680 --> 00:16:42,920 Speaker 1: to it. People will try and play technical analysis on it. 321 00:16:43,040 --> 00:16:45,480 Speaker 1: I don't believe it works that way. Um, there's some 322 00:16:45,520 --> 00:16:48,800 Speaker 1: people that do. Most people don't. But yeah, after after 323 00:16:48,840 --> 00:16:52,480 Speaker 1: listening to the Dad's podcast, UM, I do. I do 324 00:16:52,600 --> 00:16:55,040 Speaker 1: fear there's a lot more people out there like them 325 00:16:55,040 --> 00:16:58,680 Speaker 1: who misunderstand these instruments and are and are being encouraged by. 326 00:17:03,880 --> 00:17:05,919 Speaker 1: So let's just step back for a second. What what 327 00:17:06,000 --> 00:17:10,600 Speaker 1: do you think your strategy is right now? Right now? Okay, 328 00:17:10,680 --> 00:17:15,040 Speaker 1: so the commodity play. Um, I think this year, uh, 329 00:17:15,200 --> 00:17:18,080 Speaker 1: we're going to see a significant move in gold, and 330 00:17:18,080 --> 00:17:22,520 Speaker 1: I'm playing that out via g LD. Wow, she seems 331 00:17:22,520 --> 00:17:26,480 Speaker 1: really confident about that. Listen, I think gold is uh 332 00:17:26,520 --> 00:17:28,160 Speaker 1: why do you think gold is going to move? Because 333 00:17:28,160 --> 00:17:31,280 Speaker 1: gold has zero correlation, right, so it doesn't necessarily move 334 00:17:31,640 --> 00:17:34,360 Speaker 1: opposite stocks. I mean, I won't bore you guys with 335 00:17:34,480 --> 00:17:38,920 Speaker 1: all of my technical analysis jargon, but technically it has 336 00:17:38,960 --> 00:17:41,679 Speaker 1: the potential to break the downtrend line from two thousand eleven, 337 00:17:41,880 --> 00:17:45,560 Speaker 1: which which would be you know, a very large move. Also, 338 00:17:45,600 --> 00:17:48,879 Speaker 1: I'm also playing this off of the chance that you know, 339 00:17:49,240 --> 00:17:52,400 Speaker 1: we might be entering our recessionary period in the next 340 00:17:52,480 --> 00:17:55,040 Speaker 1: two years. Like I'm not saying that definitely this year, 341 00:17:55,119 --> 00:17:58,679 Speaker 1: but most definitely in the next two years. Um, this 342 00:17:58,760 --> 00:18:01,560 Speaker 1: can be played out for easily. I I'm playing it 343 00:18:01,600 --> 00:18:03,800 Speaker 1: out through actual shares of the e t F. I 344 00:18:03,840 --> 00:18:06,040 Speaker 1: know other people who are playing it out through leaps, 345 00:18:06,160 --> 00:18:09,600 Speaker 1: which are options that go out into UM, so you've 346 00:18:09,600 --> 00:18:12,240 Speaker 1: got time on that. So they're not as volatile. They 347 00:18:12,320 --> 00:18:14,640 Speaker 1: kind of they don't really move much at all. But honestly, 348 00:18:15,040 --> 00:18:17,679 Speaker 1: if there is a big move to the upside, you 349 00:18:17,720 --> 00:18:20,439 Speaker 1: know they're gonna they're gonna read for the reward. I 350 00:18:20,480 --> 00:18:22,560 Speaker 1: see one on here that I want to really unpack 351 00:18:22,600 --> 00:18:25,080 Speaker 1: a little bit. Um. You like em. There's two reasons 352 00:18:25,119 --> 00:18:27,520 Speaker 1: I find find that interesting. A. You know, merging market 353 00:18:27,520 --> 00:18:28,840 Speaker 1: has been beat up for a long time, so why 354 00:18:28,880 --> 00:18:31,000 Speaker 1: do you like it? And be you know, amongst the 355 00:18:31,040 --> 00:18:33,440 Speaker 1: CTF analysts, e M is a tough pill to swallow 356 00:18:33,440 --> 00:18:36,280 Speaker 1: because it's so expensive, So we are so inclined to say, 357 00:18:36,560 --> 00:18:38,479 Speaker 1: you know what, use I MG or v W Oh 358 00:18:38,480 --> 00:18:41,359 Speaker 1: they're way cheaper um. But traders do like e M. 359 00:18:41,440 --> 00:18:43,440 Speaker 1: Can you kind of break down why you like that? 360 00:18:44,560 --> 00:18:47,080 Speaker 1: I like em because of the way it looks technically. Again, 361 00:18:47,119 --> 00:18:50,800 Speaker 1: like most people who are traders trade on a technical basis, 362 00:18:50,880 --> 00:18:53,119 Speaker 1: So from looking at e M, it's been in a 363 00:18:53,200 --> 00:18:58,040 Speaker 1: consistent down trend um. And the reason why I'm watching 364 00:18:58,119 --> 00:19:01,400 Speaker 1: it right now is because uh, and I shouldn't even 365 00:19:01,400 --> 00:19:03,360 Speaker 1: say watching, because I have been playing it. But I've 366 00:19:03,359 --> 00:19:06,399 Speaker 1: gotten burned several times so far. So Um in October 367 00:19:06,520 --> 00:19:08,240 Speaker 1: I was in it, thought it was going to break 368 00:19:08,280 --> 00:19:10,480 Speaker 1: to the upside. It kind of did a fake breakout 369 00:19:11,160 --> 00:19:14,399 Speaker 1: failed again. Um. But E E M is you know, 370 00:19:14,440 --> 00:19:18,199 Speaker 1: it's it's almost like volatility, like the volatility products, in 371 00:19:18,200 --> 00:19:20,320 Speaker 1: the sense that it's got a wild ride. You can't 372 00:19:20,359 --> 00:19:22,119 Speaker 1: get in it and expect it not to move a lot. 373 00:19:22,200 --> 00:19:24,240 Speaker 1: And I think the reason why traders like it is 374 00:19:24,280 --> 00:19:28,200 Speaker 1: because the upside potential if it works is big. Um, 375 00:19:28,240 --> 00:19:32,639 Speaker 1: the payoff is big. And you know, since we don't 376 00:19:32,680 --> 00:19:36,160 Speaker 1: have to be in these products for long, the cost, 377 00:19:36,920 --> 00:19:39,679 Speaker 1: the cost of things like management fees is not really 378 00:19:39,880 --> 00:19:42,280 Speaker 1: important to us. How long are you typically in a 379 00:19:42,359 --> 00:19:44,639 Speaker 1: position something in my active account, I would never be 380 00:19:44,680 --> 00:19:46,359 Speaker 1: in for more than three weeks. That would be and 381 00:19:46,400 --> 00:19:49,240 Speaker 1: that would be long, like a long term swing trade. 382 00:19:49,359 --> 00:19:51,120 Speaker 1: We did a study. There's a thing you can calculate 383 00:19:51,160 --> 00:19:53,479 Speaker 1: the break even holding point on where the bidass spread 384 00:19:54,520 --> 00:19:57,199 Speaker 1: versus the cost like and I think, E M. This 385 00:19:57,320 --> 00:19:59,720 Speaker 1: is like five years ago. I did this. If you're 386 00:20:00,000 --> 00:20:02,480 Speaker 1: to go be in within three weeks. It's actually cheaper 387 00:20:02,480 --> 00:20:05,280 Speaker 1: to use em because the expense ratio is pro raded 388 00:20:05,280 --> 00:20:09,000 Speaker 1: over a year, so the bitest spread and the liquidity 389 00:20:09,040 --> 00:20:11,880 Speaker 1: is such that it's cheaper. That's really all I'm ever 390 00:20:11,880 --> 00:20:16,159 Speaker 1: looking at. I I honestly, I know from following so 391 00:20:16,240 --> 00:20:19,840 Speaker 1: many et F guys, what you know the BIPs are? 392 00:20:20,359 --> 00:20:23,600 Speaker 1: Do I really care? Now? I'm focused on the bidass spread. 393 00:20:23,720 --> 00:20:25,879 Speaker 1: That's the end all be all for me. When you 394 00:20:25,960 --> 00:20:28,240 Speaker 1: put on here, which again I find interesting, it's the 395 00:20:28,240 --> 00:20:30,920 Speaker 1: best performing e t F this year's MJ. We've covered 396 00:20:30,960 --> 00:20:33,280 Speaker 1: cannabis a couple of times on this podcast, Like we 397 00:20:33,320 --> 00:20:35,959 Speaker 1: had Barry red Holts on even though he believes that 398 00:20:36,000 --> 00:20:37,560 Speaker 1: pot is going to be a big deal, he just 399 00:20:37,560 --> 00:20:40,679 Speaker 1: won't touch it. You have it on here. Um, what 400 00:20:40,840 --> 00:20:44,240 Speaker 1: is your take on the cannabis industry as a trader 401 00:20:44,280 --> 00:20:46,879 Speaker 1: and m J? Alright, so I have two viewpoints on this. 402 00:20:47,000 --> 00:20:50,119 Speaker 1: One is from my my trading lenses, which is technically 403 00:20:50,280 --> 00:20:54,280 Speaker 1: and technically right now, m J is back above its 404 00:20:54,320 --> 00:20:58,040 Speaker 1: two day moving average, where it's arguably been hovering for 405 00:20:58,080 --> 00:21:01,040 Speaker 1: a while. Now. Um, it's got impressed of relative strength 406 00:21:01,400 --> 00:21:05,560 Speaker 1: comparatively to the market, which means that you know, in 407 00:21:05,640 --> 00:21:09,320 Speaker 1: this in this increased volatility we've been having, you'll see 408 00:21:09,359 --> 00:21:11,440 Speaker 1: some weak stocks and then you'll see stocks with momentum, 409 00:21:11,600 --> 00:21:13,439 Speaker 1: and those are the ones that you want to be in. 410 00:21:13,520 --> 00:21:17,119 Speaker 1: So MJ. MJ is showing that it's it's got strength 411 00:21:17,160 --> 00:21:22,960 Speaker 1: comparatively to the market, and technically it's it's currently bullishly flagging, 412 00:21:23,040 --> 00:21:25,760 Speaker 1: which means that it's got a lot of potential to 413 00:21:25,800 --> 00:21:29,439 Speaker 1: break to the upside. And then again, like part of 414 00:21:29,480 --> 00:21:31,520 Speaker 1: the reason why I like to be exposed to E 415 00:21:31,640 --> 00:21:33,720 Speaker 1: t F and let me just like switch my goggles here. 416 00:21:33,760 --> 00:21:36,480 Speaker 1: This is more from like an active investor, long term 417 00:21:36,520 --> 00:21:42,760 Speaker 1: investors standpoint, and like picking themes and picking trends. Marijuana arguably, 418 00:21:43,119 --> 00:21:45,639 Speaker 1: I mean, it's it, it's and it's the ball is 419 00:21:45,640 --> 00:21:47,520 Speaker 1: just going to keep rolling. Things are just going to 420 00:21:47,600 --> 00:21:50,359 Speaker 1: keep advancing. You're just bullish because Jeff Sessions is no 421 00:21:50,400 --> 00:21:55,840 Speaker 1: longer Attorney General. I also want to that you're totally delusional, yes, 422 00:21:56,040 --> 00:21:59,040 Speaker 1: which you know talk about explaining all of the content 423 00:21:59,080 --> 00:22:02,080 Speaker 1: of this problem. I love your blog with the Delusional Trader, 424 00:22:02,119 --> 00:22:05,679 Speaker 1: which is the name of your website right where you blog. Correct, 425 00:22:05,720 --> 00:22:08,679 Speaker 1: I do blog that is actually not the focus of it. 426 00:22:08,800 --> 00:22:11,840 Speaker 1: Um and what it is is it's curated content. UM. 427 00:22:11,880 --> 00:22:16,440 Speaker 1: You know, I've I've brought up Twitter past and um 428 00:22:16,640 --> 00:22:19,639 Speaker 1: essentially when I was first exposed to Twitter, you just 429 00:22:19,760 --> 00:22:23,240 Speaker 1: you're inundated with information. And this this speaks more to 430 00:22:23,480 --> 00:22:26,399 Speaker 1: than to just Twitter. This is to CNBC, this is 431 00:22:26,440 --> 00:22:28,400 Speaker 1: to the Wall Street Journal, this is to what we're 432 00:22:28,400 --> 00:22:31,120 Speaker 1: doing right now. There is just so much information out there, 433 00:22:31,400 --> 00:22:36,840 Speaker 1: and you know, you'd be remiss not not to take 434 00:22:36,840 --> 00:22:40,520 Speaker 1: it in. It's extremely helpful, but then you're also bogged 435 00:22:40,560 --> 00:22:42,880 Speaker 1: down and drowning when you try to consume it all. 436 00:22:42,960 --> 00:22:47,360 Speaker 1: And a big issue is that most of it's biased. 437 00:22:47,640 --> 00:22:50,280 Speaker 1: Most of it is is just content that's being put 438 00:22:50,320 --> 00:22:57,120 Speaker 1: out for free by different services just trying to you know, um, 439 00:22:57,320 --> 00:23:02,199 Speaker 1: create more information about either they're they're audict, whether their advisors, 440 00:23:02,440 --> 00:23:06,040 Speaker 1: whether they're like, whether they're selling actual et F s, 441 00:23:06,080 --> 00:23:09,960 Speaker 1: whether they're just passive or whether they're active in they're 442 00:23:10,000 --> 00:23:13,080 Speaker 1: they're trying to you know, rep their brand. Um. So 443 00:23:13,119 --> 00:23:15,600 Speaker 1: you've started to curate it a little bit more, filter 444 00:23:15,640 --> 00:23:17,280 Speaker 1: out a lot of the most biased stuff. It goes 445 00:23:18,680 --> 00:23:21,600 Speaker 1: take away the noise. And essentially what I did was 446 00:23:21,640 --> 00:23:23,880 Speaker 1: I was doing this for myself and then I was figuring, well, 447 00:23:23,920 --> 00:23:25,480 Speaker 1: if I'm just doing it for myself, why don't I 448 00:23:25,520 --> 00:23:27,040 Speaker 1: just put it on the web so then other people 449 00:23:27,080 --> 00:23:30,040 Speaker 1: can enjoy it too. And it's interesting. Um, I like 450 00:23:30,720 --> 00:23:34,320 Speaker 1: uh self deprecating titles of anything. I was attracted to 451 00:23:34,320 --> 00:23:37,199 Speaker 1: it when I when you're um, Sarah came to our 452 00:23:37,240 --> 00:23:39,800 Speaker 1: et F event and it's a delusional trader on her badge, 453 00:23:39,800 --> 00:23:42,280 Speaker 1: and I was just like, oh my gosh, that's the 454 00:23:42,320 --> 00:23:44,600 Speaker 1: greatest thing. Yeah. So um, But I do like the 455 00:23:44,640 --> 00:23:46,960 Speaker 1: self deprecating nature. I think a lot of people are 456 00:23:47,000 --> 00:23:49,840 Speaker 1: bombarded with sites and books that are sort of how 457 00:23:49,880 --> 00:23:53,119 Speaker 1: to make money in you know, in the stock market. Uh, 458 00:23:53,240 --> 00:23:56,439 Speaker 1: you know, all of these very confident type ways that 459 00:23:56,480 --> 00:23:58,560 Speaker 1: things are being presented to you, which I always wonder, 460 00:23:58,600 --> 00:24:00,640 Speaker 1: why would you write a book if you figured out 461 00:24:00,640 --> 00:24:02,679 Speaker 1: the secret to making money the stock market. That's in 462 00:24:02,680 --> 00:24:05,560 Speaker 1: a whole different question. But to come out and call 463 00:24:05,600 --> 00:24:09,160 Speaker 1: yourself delusional, I think is attractive. Um. In this day 464 00:24:09,160 --> 00:24:11,399 Speaker 1: and age, I think people are trust will trust that 465 00:24:11,440 --> 00:24:14,520 Speaker 1: a little more than that sort of typical um sort 466 00:24:14,520 --> 00:24:17,360 Speaker 1: of the titles of things. That's just my view on that. 467 00:24:17,720 --> 00:24:20,520 Speaker 1: But as part of this, if you're delusional, I also 468 00:24:20,560 --> 00:24:22,600 Speaker 1: want to know, like, how delusional are you? Like? What's 469 00:24:22,600 --> 00:24:26,280 Speaker 1: your performance been? Like? Okay, so my performance, although I 470 00:24:26,280 --> 00:24:29,440 Speaker 1: will not share numbers with you, has been good enough 471 00:24:29,720 --> 00:24:33,000 Speaker 1: to keep me doing this full time now for six years. 472 00:24:33,200 --> 00:24:37,920 Speaker 1: So Europe, I am up. Another thing it's interesting about 473 00:24:37,960 --> 00:24:41,440 Speaker 1: you is finn Twit. As you said, it's very male dominated. 474 00:24:41,600 --> 00:24:43,119 Speaker 1: I think it's a lot of gen extras with young 475 00:24:43,200 --> 00:24:45,000 Speaker 1: children who just use it as a vice, like the 476 00:24:45,000 --> 00:24:47,520 Speaker 1: bar down the street. But it also very good. You 477 00:24:47,600 --> 00:24:50,119 Speaker 1: learn a lot. But there aren't that many females in 478 00:24:50,160 --> 00:24:52,480 Speaker 1: the sort of finn Twit underworld. You're one of them. 479 00:24:52,840 --> 00:24:54,320 Speaker 1: Can you talk a little bit about that and being 480 00:24:54,320 --> 00:24:56,480 Speaker 1: a day trader in that sort of more male dominant 481 00:24:56,560 --> 00:24:59,399 Speaker 1: dominated world. Right, So I feel like that this is 482 00:24:59,560 --> 00:25:03,400 Speaker 1: this is a question that comes up a lot um. 483 00:25:03,560 --> 00:25:07,080 Speaker 1: Why why are there not more women in finance? Why 484 00:25:07,119 --> 00:25:10,399 Speaker 1: aren't there more women in trading? And honestly, I'm kind 485 00:25:10,440 --> 00:25:13,800 Speaker 1: of surprised there aren't more women in trading um because 486 00:25:14,119 --> 00:25:16,560 Speaker 1: it kind of speaks to my story in the beginning. 487 00:25:16,680 --> 00:25:18,920 Speaker 1: You know, a lot of times, as women we get 488 00:25:19,119 --> 00:25:21,119 Speaker 1: we get placed in these situations where we kind of 489 00:25:21,160 --> 00:25:23,120 Speaker 1: have to make things work. You know, some people open 490 00:25:23,160 --> 00:25:25,760 Speaker 1: cupcake shops. Other people decide to go on the internet 491 00:25:25,760 --> 00:25:28,160 Speaker 1: and try to make money fast. I don't know. I'm 492 00:25:28,440 --> 00:25:31,800 Speaker 1: the latter apparently, But you know, I think one of 493 00:25:31,840 --> 00:25:35,720 Speaker 1: the characteristics that has helped me most, and I think 494 00:25:35,920 --> 00:25:39,119 Speaker 1: helps you know a lot of the female fund managers 495 00:25:39,119 --> 00:25:42,720 Speaker 1: out there is that, you know, we take risks, but 496 00:25:43,040 --> 00:25:48,920 Speaker 1: we take well defined risks risks and I think, um, 497 00:25:48,960 --> 00:25:51,720 Speaker 1: there's something to be said about the male ego, and 498 00:25:52,920 --> 00:25:55,520 Speaker 1: I think that that can get in the way when 499 00:25:55,560 --> 00:26:01,560 Speaker 1: it comes to trading. I think my my sensitivity to 500 00:26:02,800 --> 00:26:07,720 Speaker 1: risk is what has kept me in the game this long. Um. Also, 501 00:26:07,920 --> 00:26:10,639 Speaker 1: something else that I'd like to touch too, that you know, 502 00:26:10,760 --> 00:26:13,960 Speaker 1: I get in arguments quite frequently with the quants about 503 00:26:14,160 --> 00:26:16,919 Speaker 1: is the emotions. You know, quants like to believe that 504 00:26:16,960 --> 00:26:19,679 Speaker 1: you should check your emotions at the door, but I 505 00:26:19,760 --> 00:26:22,320 Speaker 1: disagree with that. I think you need to acknowledge that 506 00:26:22,359 --> 00:26:25,000 Speaker 1: we're human and we have emotions. But that being said, 507 00:26:25,080 --> 00:26:28,240 Speaker 1: you know, identify what they are so that way you 508 00:26:28,240 --> 00:26:30,440 Speaker 1: can take a step back and kind of make more 509 00:26:30,480 --> 00:26:33,800 Speaker 1: objective decisions. But you know, we're human, we have emotions. 510 00:26:34,119 --> 00:26:35,960 Speaker 1: You know, when you take a loss, you're gonna you're 511 00:26:35,960 --> 00:26:38,399 Speaker 1: gonna feel that when you're winning, you're going to feel that. 512 00:26:39,119 --> 00:26:42,040 Speaker 1: Um but you know, when you're winning, don't don't put 513 00:26:42,040 --> 00:26:45,440 Speaker 1: on more size because you're winning. You know, when you're losing, 514 00:26:45,920 --> 00:26:48,160 Speaker 1: don't put on more size because you need to make 515 00:26:48,200 --> 00:26:51,919 Speaker 1: it back. You know, I'm just I am, and women 516 00:26:52,000 --> 00:26:54,320 Speaker 1: are and I'm sure there are men that are too, 517 00:26:54,800 --> 00:26:58,000 Speaker 1: just in touch internally with what's going on and where 518 00:26:58,160 --> 00:27:01,919 Speaker 1: their head is at. I mean arguably the market. You know, 519 00:27:02,160 --> 00:27:06,040 Speaker 1: it is just an exchange of emotions going on. When 520 00:27:06,080 --> 00:27:09,880 Speaker 1: you think back to that moment that you had spy 521 00:27:09,960 --> 00:27:12,119 Speaker 1: and then you took the training wheels off, what do 522 00:27:12,160 --> 00:27:15,800 Speaker 1: you wish you would have known then? I wish I 523 00:27:15,800 --> 00:27:19,280 Speaker 1: would have known that all of the information out there 524 00:27:20,400 --> 00:27:27,119 Speaker 1: is not it's not true. Don't don't take everything for 525 00:27:27,200 --> 00:27:29,879 Speaker 1: face value. Do your research. So the way that you 526 00:27:29,920 --> 00:27:32,320 Speaker 1: can apply this to E t F S is so 527 00:27:32,560 --> 00:27:36,760 Speaker 1: and E t F might say that it's tracking something 528 00:27:36,800 --> 00:27:40,720 Speaker 1: new and innovative, like she like, oh, we're tracking female 529 00:27:41,080 --> 00:27:44,080 Speaker 1: board member companies with female board members. It's kind of 530 00:27:44,119 --> 00:27:47,359 Speaker 1: just tracking the SMP. Honestly, UM, so kind of know 531 00:27:47,760 --> 00:27:50,960 Speaker 1: what you're what you're getting into? Is this like is 532 00:27:51,000 --> 00:27:54,040 Speaker 1: this actually a special E T f is it actually 533 00:27:54,040 --> 00:27:56,200 Speaker 1: going to create alpha for me? Or is it really 534 00:27:56,240 --> 00:27:59,879 Speaker 1: just a beta tracker? Sera. Thanks for joining us with 535 00:28:04,080 --> 00:28:06,600 Speaker 1: thanks for listening to Trillions until next time. You can 536 00:28:06,640 --> 00:28:11,280 Speaker 1: find us on the Bloomberg terminal, Bloomberg dot com, Apple Podcasts, Spotify, 537 00:28:11,760 --> 00:28:13,920 Speaker 1: and wherever else you'd like to listen. We'd love to 538 00:28:13,960 --> 00:28:17,520 Speaker 1: hear from you. We're on Twitter, I'm at Joel Weber Show, 539 00:28:17,880 --> 00:28:21,000 Speaker 1: He's at Eric Fall Tuns and you can find Sarah 540 00:28:21,040 --> 00:28:26,520 Speaker 1: Newton at FILI Trade. Trillions is produced by Magnus Hendrickson. 541 00:28:27,080 --> 00:28:30,320 Speaker 1: Francesa Levie is the head of Bloomberg podcast by