Speaker 1: Welcome to Trilliance. I'm Joel Webber and I'm Eric belchionis Eric.
Speaker 1: We have a guest here, Sarah Newton. Who is she?
Speaker 1: Sarah Newton is somebody I met digitally. She has a
Speaker 1: handle on Twitter at Phila Trades, and you know, I
Speaker 1: live in Philly, and she started posting stuff on E
Speaker 1: T F S and uh, you know, kind of interacting
Speaker 1: with me, and I got to know her digitally, and
Speaker 1: then I started seeing around the circuit and she's I
Speaker 1: found out her story, which I thought was very interesting.
Speaker 1: And you know, one of the things we vowed to
Speaker 1: do this year was to talk to actual and do
Speaker 1: it yourself investors of ETFs and skip the middleman, the
Speaker 1: asset managers and advisors, which are good to talk to,
Speaker 1: but sometimes it's good, like with my two dads, to
Speaker 1: talk to someone who's out there doing it on their own.
Speaker 1: And unlike my two dads, which are doing a little
Speaker 1: more retirement and estake type work, Sarah is really more
Speaker 1: of a trader. I mean, she is doing it herself.
Speaker 1: She's almost reminds me of like the nine, The's version
Speaker 1: of the day Trader of stocks. She's kind of doing
Speaker 1: it with E t F s and so she can
Speaker 1: share some of those insights I thought, and she has
Speaker 1: an incredible story which we're gonna hear all about this
Speaker 1: time on Trillions Delusional E t F Trading with Sara Hi. Sarah,
Speaker 1: welcome you, Trillions. Hi do So, how did you get
Speaker 1: into E t F trading? UM? Actually, UH, to be honest,
Speaker 1: I first got into e t F s thanks to
Speaker 1: something called finn twit. I was mainly into stocks before that.
Speaker 1: I would just trade common stocks and you started to
Speaker 1: hear more about E t F s UM, so I
Speaker 1: kind of heard of them, didn't really think of it
Speaker 1: as a trading vehicle. I started using finn twit, which
Speaker 1: is uh a subsect of Twitter, and I started following
Speaker 1: people like Eric Dave Nadie would post um Christian Fromhertz,
Speaker 1: who is actually a trader much like myself, And a
Speaker 1: great thing to follow with the t F S is
Speaker 1: the flow it. It helps you UM visualize the sector rotation,
Speaker 1: which is a big, big part of UM swing trading.
Speaker 1: So that's how I initially got my INN and then
Speaker 1: it kind of segued into something more risky like UM options.
Speaker 1: But you weren't a trader to start with right, you
Speaker 1: were just doing this on the side, right, Okay, So
Speaker 1: all right, let's let's start with my back story. I
Speaker 1: started investing, I guess, I can't say trading. Started investing
Speaker 1: in the fifth grade. Fifth grade. It's a crazy story.
Speaker 1: A father of one of the kids in my class
Speaker 1: got extremely wealthy during this time period donated twenty dollars
Speaker 1: to us to trade, So he was actually making placing
Speaker 1: trades based on what we're picking. I know, I know, insane, insane.
Speaker 1: At the end, it didn't matter what we made, what
Speaker 1: we lost, he was going to keep it. It was
Speaker 1: his money. So he was your broker, and you were
Speaker 1: just calling him up and like telling him what to do.
Speaker 1: I don't even know how our trades are submitted, to
Speaker 1: be honest, but um, we picked I think as a
Speaker 1: class we picked uh ten and um. When I was
Speaker 1: in the fifth grade, it was the dot com bubble. Actually,
Speaker 1: when I started the fifth grade, we didn't know it
Speaker 1: was a bubble quite yet. So what we would do
Speaker 1: is pets dot com, I'm all in. We would use
Speaker 1: I believe it was the Wall Street Journal, and we
Speaker 1: would literally paper trade. And this is not the paper
Speaker 1: trading that people know of today. This is use the
Speaker 1: newspaper to trade. We would write down our stock selection.
Speaker 1: We would track the stocks every week, and at the
Speaker 1: end we started with at the end we we ended
Speaker 1: somewhere in the fifties. Um, so this guy made money
Speaker 1: off a bunch of fifth graders. So, as you can imagine,
Speaker 1: it was an experience of a lifetime. It's stuck with
Speaker 1: me and my My mother always stocked picked a cash account.
Speaker 1: My dad actually left his job for a little bit
Speaker 1: to try his hand at day trading. So I wasn't
Speaker 1: a stranger to this field. So being that age, seeing
Speaker 1: these astronomical returns, I was like, I'm gonna get rich
Speaker 1: one day. This is one I'm gonna do. So fast
Speaker 1: forward to you're out of college, out of you go
Speaker 1: into investing or well listen, hold on before we get there,
Speaker 1: I'll just go really quickly. And I always stock picked.
Speaker 1: I stock picked my mom's cash account when I was
Speaker 1: in high school. You know, us traders out there, we like,
Speaker 1: we like to lay our claim to fame. So I
Speaker 1: just gotta put this out here right now. I wrote
Speaker 1: my mom a note to get into Google. I said,
Speaker 1: Google's pong tomorrow. I need you to buy me a
Speaker 1: few shares. Um. Those few shares fast forward after college
Speaker 1: helped me fund honestly where I am today. So I
Speaker 1: was one of Google's first investors. Those hold on all
Speaker 1: those c NBC articles that you see about. I was
Speaker 1: going to say that was me because I hate those
Speaker 1: I think they inspire lottery picking and like. But you're
Speaker 1: one of those people. I'm going to soften my stance
Speaker 1: a little because it worked for you. But they'll they'll say, oh,
Speaker 1: if you were only invested in Google, you know, twenty
Speaker 1: years ago, here's how much that that money would be worth.
Speaker 1: But there were a lot of other companies that written
Speaker 1: by Sarah Newton. Okay, so you had some seed money
Speaker 1: from hitting the jackpot. Yes, I did. But okay, fast
Speaker 1: forward to college. I went to college during the Great Recession.
Speaker 1: It was a horrible whole world time, especially since I,
Speaker 1: you know, it was pretty familiar with stocks, had money
Speaker 1: in stocks, and had access to my mom's for one K.
Speaker 1: So I watched that thing get cut in half. It
Speaker 1: was devastating, and I thought to myself, I don't want
Speaker 1: anything to do with this. So I left the world
Speaker 1: of investing. Um. Actually, now that i'm thinking of it,
Speaker 1: I'm pretty sure that I own some fracking stock still
Speaker 1: to this day, because they were big at that time,
Speaker 1: and I still have not looked at that account since
Speaker 1: two thousand. Anyways, al right, not to get too off track,
Speaker 1: I left, and you know, it was really hard to
Speaker 1: hard time to get a job, and I took the
Speaker 1: first job I could get, and that was in consulting.
Speaker 1: And so I went into consulting after graduation, which is
Speaker 1: in like two thousand, two eleven, and I was making
Speaker 1: a career as a consultant when my mother, UM, my
Speaker 1: mother got sick. UM I had to leave consulting to
Speaker 1: be her primary caregiver. Um. She had breast cancer, which
Speaker 1: you know, at first, doesn't it doesn't sound like that
Speaker 1: big of a deal. People actually go through chemo and work. Unfortunately,
Speaker 1: my mother was already sick with kidney disease, so she
Speaker 1: was on chemo and dialysis at the same time, and
Speaker 1: it really required full time caretaking. So I left consulting
Speaker 1: and I went to care for her. And you know,
Speaker 1: at this period of time, I was like the rest
Speaker 1: of my friends, you know, had been in the workforce
Speaker 1: two to three years. They started getting promotions, their lives
Speaker 1: started taking off. I mean, it really hurt. It was
Speaker 1: hard to watch. I had always been like a great
Speaker 1: student in college. I was successful in my career, and
Speaker 1: it was it was hard to take a back seat
Speaker 1: to that. And um, at this point in time, you know,
Speaker 1: the market had started to rebound, things were looking better.
Speaker 1: And I think, honestly, when I try and think back
Speaker 1: of like what was like the light switch a moment,
Speaker 1: I think my mom might have accidentally because she was
Speaker 1: not a frequent watcher of CNBC. I think either she
Speaker 1: had it on or I honestly might have been in
Speaker 1: a doctor's appointment and it was on in the waiting room.
Speaker 1: I can't remember exactly how it happened, but like the
Speaker 1: light switch went off, and I was like, I should
Speaker 1: get back into this. Why did they did you when you?
Speaker 1: I thought to fifth grade and how much money I made,
Speaker 1: and I was like, oh, clearly, I can you know,
Speaker 1: make a living easily doing this and were in a
Speaker 1: place where you were like it was hard and you
Speaker 1: guys needed the money. Oh no, No. I was more
Speaker 1: at the standpoint that you know, when you're life like,
Speaker 1: finance is compounding. When you're not doing anything, you're losing everything.
Speaker 1: And I was losing my career and I needed to
Speaker 1: figure something out for myself. Um, I think that is
Speaker 1: a very um common treat intrinsic two females. A lot
Speaker 1: of times we're put in these hard situations. You know,
Speaker 1: many of us become caretakers at all different points of
Speaker 1: time in life. Like hopefully, hopefully a lot of us
Speaker 1: don't have to do it as young as I had
Speaker 1: to do it. Um, I know there are probably a
Speaker 1: lot of people actually my age that coming up soon
Speaker 1: are going to have to do it. Um, my parents
Speaker 1: were boomers. I'm pretty sure your parents are boomers. Um,
Speaker 1: it's just something. It's something that's coming. There's not enough
Speaker 1: workers in the field to care for all these people.
Speaker 1: There's not enough finances to pay for it, and people
Speaker 1: are going to have to bite the bullet and you
Speaker 1: know do caretaking on the side and investing or not.
Speaker 1: Everybody can trade, but investing is definitely helps fill fill
Speaker 1: the void of that income and that lack of exposure
Speaker 1: to the workforce. We basically looked at your life that
Speaker 1: you needed to be making some money, that you were
Speaker 1: out of the game, but you could get back in
Speaker 1: the game because you knew some basics exactly, and what
Speaker 1: was your next move? Um? My next move was to
Speaker 1: return to the account that I abandoned and not looked
Speaker 1: at since. And was that your fracking account account? That
Speaker 1: was my account that had actually the fracking stocks, It
Speaker 1: had the Google in it, and I think it had
Speaker 1: some Apple shares, and it was a fifty It was.
Speaker 1: It was a really pleasant surprise. It was not anywhere.
Speaker 1: It was five times I left it at ten. I
Speaker 1: returned and it was five times the size that I
Speaker 1: had left it. It was I had no idea that there.
Speaker 1: I know. Okay, so all these crazy articles you hear about,
Speaker 1: a lot of them happened to me. Don't don't take
Speaker 1: this all with a grain of salt. It's not common. Um.
Speaker 1: So I returned and I had this nice little nest egg.
Speaker 1: And if you look back to that period and time,
Speaker 1: arguably from you two, you know, pretty recently, was like
Speaker 1: a really great time to be in the market. There
Speaker 1: were some extreme draw downs that were really hard when
Speaker 1: you're staring at screens all day every day, but other
Speaker 1: than that, it was a good time to be I
Speaker 1: like to call it what I did in the beginning
Speaker 1: active investing, because it wasn't it wasn't trading. I wasn't
Speaker 1: staring at the screen all day every day because you know,
Speaker 1: I was a caretaker. Um, that took up most of
Speaker 1: my time. So more like active investing, like something in
Speaker 1: between long term investing in swing trading. That's what I
Speaker 1: was doing during that period of time. When you started
Speaker 1: doing this sort of trading for yourself. Can you remember
Speaker 1: the first E t F trade you did or what
Speaker 1: started off the E t F portion of your account? Oh,
Speaker 1: I'm positive the first E t F trade I did
Speaker 1: a spy without a doubt. I'm pretty sure that's everybody's
Speaker 1: set of training wheels exactly. Um. You know, I really
Speaker 1: think at first when I got into E t fs
Speaker 1: pre fin twit, I really just thought they covered the indexes.
Speaker 1: You know, I think my knowledge, my knowledge pre Twitter
Speaker 1: was minimal, but almost in a in a good way,
Speaker 1: not minimal, simplistic, I'll say simplistic. And I think that
Speaker 1: was a double edged sword. Um. I think in some
Speaker 1: ways it saved me a lot of pain. But you know,
Speaker 1: there's still a lot of more innovative opportunities that I
Speaker 1: didn't know about because of it, and E t S
Speaker 1: would be one of them. So I did. I definitely
Speaker 1: did have money in spy. Um, nothing fancy, nothing options,
Speaker 1: just sitting in spy prior to Twitter. But post Twitter
Speaker 1: is when I started to get into you know, the
Speaker 1: more exotic e T F. So, so you put would
Speaker 1: you do with that fifty? Did you go all in
Speaker 1: on spy? Oh no, no, definitely not. Um I The
Speaker 1: way that I used to stock pick was not technical,
Speaker 1: not fundamental. It was I would pick stocks that I
Speaker 1: felt like I used the company's a decent amount, and
Speaker 1: that morphed. I started reading different investing books like Jim
Speaker 1: Kramer's books. Um I started searching. Oh my gosh, I
Speaker 1: remember the first thing I searched online was was I
Speaker 1: just typed in stock charts And of course the first
Speaker 1: thing that comes up is stock charts dot com, which
Speaker 1: is actually a really great resource. And I picked up
Speaker 1: a lot of the basics that I know about technical
Speaker 1: analysis from there. So you spy and then you know,
Speaker 1: you've given me here a list of E T s used.
Speaker 1: This is like, you know, level four hundred here, so
Speaker 1: you you definitely went from one oh one to four
Speaker 1: hundred at some point. How did the training wheels come
Speaker 1: Yeah into it? So again and I like double edged Sword,
Speaker 1: but so Finn twit came into my life. And what
Speaker 1: this is is this it's a subsect of Twitter, and
Speaker 1: it has all of the best of the best, also
Speaker 1: with the worst of the worst. Um there's people like
Speaker 1: Eric on there. There are hedge hedge fund managers you
Speaker 1: see in the movies on there. Um there's anonymous accounts
Speaker 1: that are you know, backstage geniuses. Um that you know
Speaker 1: go on there and share their wisdom. And this is
Speaker 1: how I learned most of what I know today. And
Speaker 1: one thing I would recommend for anybody listening who doesn't
Speaker 1: use Twitter, but if you don't have to tweet, but
Speaker 1: one thing I do sometimes if I'm preparing for a
Speaker 1: quick TV hit or something, or I just want to
Speaker 1: see what the latest people are saying about an et F,
Speaker 1: just put cash tag in the e t F in
Speaker 1: the search and you can see all the latest people
Speaker 1: talking about it. I did this for h y G
Speaker 1: recently and there was some interesting charts and things put
Speaker 1: out that really helped deepen what I was looking at.
Speaker 1: And it's free, I mean, it was an amazing quick resource.
Speaker 1: It's like Google on steroids and and very specific. If
Speaker 1: I put H y g Intwo Google, I wouldn't have
Speaker 1: gotten that specificity at that speed. UM, so it can
Speaker 1: really help. And you just put the dollar sign in
Speaker 1: the ticker and you can find everything that people are
Speaker 1: saying about that e t F before you potentially buy it. Yes,
Speaker 1: so if you're new, if you're new to the Twitter
Speaker 1: sphere and you're hearing this podcast for the first time,
Speaker 1: UM finance, Twitter does not work with hashtags. They work
Speaker 1: with what's referred to as a cash tag, and that
Speaker 1: is the dollar symbol. So if there is an e
Speaker 1: t F you're looking to find more research about, like MJ,
Speaker 1: you put in the cash tag or the dollar symbol
Speaker 1: mg A and you can you can filter it by top,
Speaker 1: you can filter it by latest um and you can
Speaker 1: see all different opinions. Fast forward to today, right, you're
Speaker 1: you have your account, right, so e t f s
Speaker 1: are a tool in your account that you use and
Speaker 1: are you riffing off of like economic data or interest
Speaker 1: rates to move money within e t f s? Like
Speaker 1: do you use say like H Y G or t
Speaker 1: L T like do you know what I mean? Like
Speaker 1: a lot of people might use those to play rates. Okay,
Speaker 1: so I use e t f s in way more
Speaker 1: ways than I used to use E T s now.
Speaker 1: I use them in about ten different ways, one of
Speaker 1: them being what you're talking about, UM speaking to economic data. UM.
Speaker 1: Do I trade them all? No? Do I watch them? Yes,
Speaker 1: that's a whole different story. H y g j N
Speaker 1: k U U p UM UP is the dollar junk
Speaker 1: bonds high yield And if I'm to trade anything, it's
Speaker 1: going to be t l T and that's bonds UM.
Speaker 1: I just I think anybody out there who who watches
Speaker 1: bonds has seen the trade that there just was recently
Speaker 1: with the experience volatility. If I'm gonna trade anything, it's
Speaker 1: going to be t LT. The liquidity in it UM
Speaker 1: makes up for the non existent liquidity in the actual
Speaker 1: bond market because as you know, you know, bonds sell
Speaker 1: at different times UM and t l T is the
Speaker 1: twenty plus your treasury, so it definitely is sensitive to
Speaker 1: rates and also sometimes used as a as a crisis hedge,
Speaker 1: like if you think things are getting really bad, t
Speaker 1: LT could be a flight to quality as well. Yeah,
Speaker 1: and I hate to hedge. You know. If if I
Speaker 1: have to hedge, uh, I probably shouldn't be in the
Speaker 1: trade in the first place. I don't use t LT
Speaker 1: to hedge. I do use the volatility instruments to hedge.
Speaker 1: Um there's v x x B, which is is the
Speaker 1: new v x X. But hold, let's there's this thought
Speaker 1: fear for a minute now. The volatility instruments are power tools,
Speaker 1: right right. They hold Vick's futures and so they have
Speaker 1: to roll them, and so the roll, the cost of
Speaker 1: rolling could be like years. So they're they're widely known
Speaker 1: not to hold long term. So you're you're you're kind
Speaker 1: of going in and out of them. But when the
Speaker 1: market has a bad day, nothing goes up like a
Speaker 1: vix et f. It it's up like three or four
Speaker 1: times what a negative three times smp E t F
Speaker 1: would be up like it's the ultimate jack pot if
Speaker 1: you're right. If you're wrong, though, they it's like it
Speaker 1: corrodes on you. So do you do you like kind
Speaker 1: of come in and out of it. I've never held
Speaker 1: a volatility product for longer than two days. I never would.
Speaker 1: There's you can't there's no there's no real chart patterns
Speaker 1: to it. People will try and play technical analysis on it.
Speaker 1: I don't believe it works that way. Um, there's some
Speaker 1: people that do. Most people don't. But yeah, after after
Speaker 1: listening to the Dad's podcast, UM, I do. I do
Speaker 1: fear there's a lot more people out there like them
Speaker 1: who misunderstand these instruments and are and are being encouraged by.
Speaker 1: So let's just step back for a second. What what
Speaker 1: do you think your strategy is right now? Right now? Okay,
Speaker 1: so the commodity play. Um, I think this year, uh,
Speaker 1: we're going to see a significant move in gold, and
Speaker 1: I'm playing that out via g LD. Wow, she seems
Speaker 1: really confident about that. Listen, I think gold is uh
Speaker 1: why do you think gold is going to move? Because
Speaker 1: gold has zero correlation, right, so it doesn't necessarily move
Speaker 1: opposite stocks. I mean, I won't bore you guys with
Speaker 1: all of my technical analysis jargon, but technically it has
Speaker 1: the potential to break the downtrend line from two thousand eleven,
Speaker 1: which which would be you know, a very large move. Also,
Speaker 1: I'm also playing this off of the chance that you know,
Speaker 1: we might be entering our recessionary period in the next
Speaker 1: two years. Like I'm not saying that definitely this year,
Speaker 1: but most definitely in the next two years. Um, this
Speaker 1: can be played out for easily. I I'm playing it
Speaker 1: out through actual shares of the e t F. I
Speaker 1: know other people who are playing it out through leaps,
Speaker 1: which are options that go out into UM, so you've
Speaker 1: got time on that. So they're not as volatile. They
Speaker 1: kind of they don't really move much at all. But honestly,
Speaker 1: if there is a big move to the upside, you
Speaker 1: know they're gonna they're gonna read for the reward. I
Speaker 1: see one on here that I want to really unpack
Speaker 1: a little bit. Um. You like em. There's two reasons
Speaker 1: I find find that interesting. A. You know, merging market
Speaker 1: has been beat up for a long time, so why
Speaker 1: do you like it? And be you know, amongst the
Speaker 1: CTF analysts, e M is a tough pill to swallow
Speaker 1: because it's so expensive, So we are so inclined to say,
Speaker 1: you know what, use I MG or v W Oh
Speaker 1: they're way cheaper um. But traders do like e M.
Speaker 1: Can you kind of break down why you like that?
Speaker 1: I like em because of the way it looks technically. Again,
Speaker 1: like most people who are traders trade on a technical basis,
Speaker 1: So from looking at e M, it's been in a
Speaker 1: consistent down trend um. And the reason why I'm watching
Speaker 1: it right now is because uh, and I shouldn't even
Speaker 1: say watching, because I have been playing it. But I've
Speaker 1: gotten burned several times so far. So Um in October
Speaker 1: I was in it, thought it was going to break
Speaker 1: to the upside. It kind of did a fake breakout
Speaker 1: failed again. Um. But E E M is you know,
Speaker 1: it's it's almost like volatility, like the volatility products, in
Speaker 1: the sense that it's got a wild ride. You can't
Speaker 1: get in it and expect it not to move a lot.
Speaker 1: And I think the reason why traders like it is
Speaker 1: because the upside potential if it works is big. Um,
Speaker 1: the payoff is big. And you know, since we don't
Speaker 1: have to be in these products for long, the cost,
Speaker 1: the cost of things like management fees is not really
Speaker 1: important to us. How long are you typically in a
Speaker 1: position something in my active account, I would never be
Speaker 1: in for more than three weeks. That would be and
Speaker 1: that would be long, like a long term swing trade.
Speaker 1: We did a study. There's a thing you can calculate
Speaker 1: the break even holding point on where the bidass spread
Speaker 1: versus the cost like and I think, E M. This
Speaker 1: is like five years ago. I did this. If you're
Speaker 1: to go be in within three weeks. It's actually cheaper
Speaker 1: to use em because the expense ratio is pro raded
Speaker 1: over a year, so the bitest spread and the liquidity
Speaker 1: is such that it's cheaper. That's really all I'm ever
Speaker 1: looking at. I I honestly, I know from following so
Speaker 1: many et F guys, what you know the BIPs are?
Speaker 1: Do I really care? Now? I'm focused on the bidass spread.
Speaker 1: That's the end all be all for me. When you
Speaker 1: put on here, which again I find interesting, it's the
Speaker 1: best performing e t F this year's MJ. We've covered
Speaker 1: cannabis a couple of times on this podcast, Like we
Speaker 1: had Barry red Holts on even though he believes that
Speaker 1: pot is going to be a big deal, he just
Speaker 1: won't touch it. You have it on here. Um, what
Speaker 1: is your take on the cannabis industry as a trader
Speaker 1: and m J? Alright, so I have two viewpoints on this.
Speaker 1: One is from my my trading lenses, which is technically
Speaker 1: and technically right now, m J is back above its
Speaker 1: two day moving average, where it's arguably been hovering for
Speaker 1: a while. Now. Um, it's got impressed of relative strength
Speaker 1: comparatively to the market, which means that you know, in
Speaker 1: this in this increased volatility we've been having, you'll see
Speaker 1: some weak stocks and then you'll see stocks with momentum,
Speaker 1: and those are the ones that you want to be in.
Speaker 1: So MJ. MJ is showing that it's it's got strength
Speaker 1: comparatively to the market, and technically it's it's currently bullishly flagging,
Speaker 1: which means that it's got a lot of potential to
Speaker 1: break to the upside. And then again, like part of
Speaker 1: the reason why I like to be exposed to E
Speaker 1: t F and let me just like switch my goggles here.
Speaker 1: This is more from like an active investor, long term
Speaker 1: investors standpoint, and like picking themes and picking trends. Marijuana arguably,
Speaker 1: I mean, it's it, it's and it's the ball is
Speaker 1: just going to keep rolling. Things are just going to
Speaker 1: keep advancing. You're just bullish because Jeff Sessions is no
Speaker 1: longer Attorney General. I also want to that you're totally delusional, yes,
Speaker 1: which you know talk about explaining all of the content
Speaker 1: of this problem. I love your blog with the Delusional Trader,
Speaker 1: which is the name of your website right where you blog. Correct,
Speaker 1: I do blog that is actually not the focus of it.
Speaker 1: Um and what it is is it's curated content. UM.
Speaker 1: You know, I've I've brought up Twitter past and um
Speaker 1: essentially when I was first exposed to Twitter, you just
Speaker 1: you're inundated with information. And this this speaks more to
Speaker 1: than to just Twitter. This is to CNBC, this is
Speaker 1: to the Wall Street Journal, this is to what we're
Speaker 1: doing right now. There is just so much information out there,
Speaker 1: and you know, you'd be remiss not not to take
Speaker 1: it in. It's extremely helpful, but then you're also bogged
Speaker 1: down and drowning when you try to consume it all.
Speaker 1: And a big issue is that most of it's biased.
Speaker 1: Most of it is is just content that's being put
Speaker 1: out for free by different services just trying to you know, um,
Speaker 1: create more information about either they're they're audict, whether their advisors,
Speaker 1: whether they're like, whether they're selling actual et F s,
Speaker 1: whether they're just passive or whether they're active in they're
Speaker 1: they're trying to you know, rep their brand. Um. So
Speaker 1: you've started to curate it a little bit more, filter
Speaker 1: out a lot of the most biased stuff. It goes
Speaker 1: take away the noise. And essentially what I did was
Speaker 1: I was doing this for myself and then I was figuring, well,
Speaker 1: if I'm just doing it for myself, why don't I
Speaker 1: just put it on the web so then other people
Speaker 1: can enjoy it too. And it's interesting. Um, I like
Speaker 1: uh self deprecating titles of anything. I was attracted to
Speaker 1: it when I when you're um, Sarah came to our
Speaker 1: et F event and it's a delusional trader on her badge,
Speaker 1: and I was just like, oh my gosh, that's the
Speaker 1: greatest thing. Yeah. So um, But I do like the
Speaker 1: self deprecating nature. I think a lot of people are
Speaker 1: bombarded with sites and books that are sort of how
Speaker 1: to make money in you know, in the stock market. Uh,
Speaker 1: you know, all of these very confident type ways that
Speaker 1: things are being presented to you, which I always wonder,
Speaker 1: why would you write a book if you figured out
Speaker 1: the secret to making money the stock market. That's in
Speaker 1: a whole different question. But to come out and call
Speaker 1: yourself delusional, I think is attractive. Um. In this day
Speaker 1: and age, I think people are trust will trust that
Speaker 1: a little more than that sort of typical um sort
Speaker 1: of the titles of things. That's just my view on that.
Speaker 1: But as part of this, if you're delusional, I also
Speaker 1: want to know, like, how delusional are you? Like? What's
Speaker 1: your performance been? Like? Okay, so my performance, although I
Speaker 1: will not share numbers with you, has been good enough
Speaker 1: to keep me doing this full time now for six years.
Speaker 1: So Europe, I am up. Another thing it's interesting about
Speaker 1: you is finn Twit. As you said, it's very male dominated.
Speaker 1: I think it's a lot of gen extras with young
Speaker 1: children who just use it as a vice, like the
Speaker 1: bar down the street. But it also very good. You
Speaker 1: learn a lot. But there aren't that many females in
Speaker 1: the sort of finn Twit underworld. You're one of them.
Speaker 1: Can you talk a little bit about that and being
Speaker 1: a day trader in that sort of more male dominant
Speaker 1: dominated world. Right, So I feel like that this is
Speaker 1: this is a question that comes up a lot um.
Speaker 1: Why why are there not more women in finance? Why
Speaker 1: aren't there more women in trading? And honestly, I'm kind
Speaker 1: of surprised there aren't more women in trading um because
Speaker 1: it kind of speaks to my story in the beginning.
Speaker 1: You know, a lot of times, as women we get
Speaker 1: we get placed in these situations where we kind of
Speaker 1: have to make things work. You know, some people open
Speaker 1: cupcake shops. Other people decide to go on the internet
Speaker 1: and try to make money fast. I don't know. I'm
Speaker 1: the latter apparently, But you know, I think one of
Speaker 1: the characteristics that has helped me most, and I think
Speaker 1: helps you know a lot of the female fund managers
Speaker 1: out there is that, you know, we take risks, but
Speaker 1: we take well defined risks risks and I think, um,
Speaker 1: there's something to be said about the male ego, and
Speaker 1: I think that that can get in the way when
Speaker 1: it comes to trading. I think my my sensitivity to
Speaker 1: risk is what has kept me in the game this long. Um. Also,
Speaker 1: something else that I'd like to touch too, that you know,
Speaker 1: I get in arguments quite frequently with the quants about
Speaker 1: is the emotions. You know, quants like to believe that
Speaker 1: you should check your emotions at the door, but I
Speaker 1: disagree with that. I think you need to acknowledge that
Speaker 1: we're human and we have emotions. But that being said,
Speaker 1: you know, identify what they are so that way you
Speaker 1: can take a step back and kind of make more
Speaker 1: objective decisions. But you know, we're human, we have emotions.
Speaker 1: You know, when you take a loss, you're gonna you're
Speaker 1: gonna feel that when you're winning, you're going to feel that.
Speaker 1: Um but you know, when you're winning, don't don't put
Speaker 1: on more size because you're winning. You know, when you're losing,
Speaker 1: don't put on more size because you need to make
Speaker 1: it back. You know, I'm just I am, and women
Speaker 1: are and I'm sure there are men that are too,
Speaker 1: just in touch internally with what's going on and where
Speaker 1: their head is at. I mean arguably the market. You know,
Speaker 1: it is just an exchange of emotions going on. When
Speaker 1: you think back to that moment that you had spy
Speaker 1: and then you took the training wheels off, what do
Speaker 1: you wish you would have known then? I wish I
Speaker 1: would have known that all of the information out there
Speaker 1: is not it's not true. Don't don't take everything for
Speaker 1: face value. Do your research. So the way that you
Speaker 1: can apply this to E t F S is so
Speaker 1: and E t F might say that it's tracking something
Speaker 1: new and innovative, like she like, oh, we're tracking female
Speaker 1: board member companies with female board members. It's kind of
Speaker 1: just tracking the SMP. Honestly, UM, so kind of know
Speaker 1: what you're what you're getting into? Is this like is
Speaker 1: this actually a special E T f is it actually
Speaker 1: going to create alpha for me? Or is it really
Speaker 1: just a beta tracker? Sera. Thanks for joining us with
Speaker 1: thanks for listening to Trillions until next time. You can
Speaker 1: find us on the Bloomberg terminal, Bloomberg dot com, Apple Podcasts, Spotify,
Speaker 1: and wherever else you'd like to listen. We'd love to
Speaker 1: hear from you. We're on Twitter, I'm at Joel Weber Show,
Speaker 1: He's at Eric Fall Tuns and you can find Sarah
Speaker 1: Newton at FILI Trade. Trillions is produced by Magnus Hendrickson.
Speaker 1: Francesa Levie is the head of Bloomberg podcast by