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How I Made Millions As The World’s Best Trader | Minutes With

LADbible TV・2 minutes read

Growing up in a poor area in Ilford, London, the narrator's financial struggles shaped his understanding of money and the economy, leading him to seek independence and start working at a young age. Despite facing challenges, strategic skills and determination helped the narrator secure an internship at City Bank and eventually earn substantial wealth, prompting reflection on the morality of wealth accumulation and the illusion of wealth as a key to happiness.

Insights

  • The narrator's upbringing in a poor area influenced his understanding of money and the economy, motivating him to seek independence early on.
  • Despite facing challenges and suspicions of unfairness, the narrator's strategic skills and determination allowed him to secure a significant internship opportunity, highlighting the importance of perseverance and seizing unique chances for success.

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Recent questions

  • How did Gary secure an internship at City Bank?

    Through winning a trading game.

  • What challenges did Gary face in his trading career?

    Significant losses and isolation from family.

  • What led Gary to question the morality of wealth accumulation?

    Successful bet on zero interest rates.

  • What societal issues are highlighted in the narrative?

    Growing wealth inequality and declining living standards.

  • How did Gary's upbringing influence his career choices?

    Shaped by parents' financial struggles.

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Summary

00:00

"From Struggle to Success: Winning Against Odds"

  • The narrator recalls a moment when he bought lunch for four people and returned the change to a man, but the man insisted on keeping the change on his desk.
  • The narrator describes growing up in a poor area in Ilford, London, with a view of Canary Wharf skyscrapers being built, which fascinated him as a child.
  • Despite being good at English in school, the narrator was obsessed with rules and systems, even collecting more chocolate bars than allowed.
  • The narrator's understanding of money and the economy was shaped by his parents' financial struggles, leading him to seek independence and start working at a young age.
  • After being expelled from school for drug involvement at 16, the narrator faced uncertainty and challenges in finding a new path.
  • The narrator managed to secure a place at the London School of Economics (LSE) despite his expulsion, where he realized the importance of extracurricular activities for job opportunities.
  • In his second year at LSE, the narrator observed his peers' intense focus on securing Investment Banking internships through numerous applications and acronyms.
  • To stand out in the competitive job market, the narrator learned that extracurricular activities were crucial, but he lacked the background and opportunities many of his peers had.
  • The narrator discovered a unique opportunity to win an internship at City Bank through a trading game, which he prepared for meticulously and won against all odds.
  • Despite suspicions of the game being rigged against him, the narrator emerged as the winner, showcasing his strategic skills and determination to succeed.

11:36

Gary's Rise and Fall in Trading World

  • Stevenson wanted to see how someone would react if everything went against them, like Gary, who backed himself in a rigged game, reflecting the world's challenges.
  • Gary's first day at Canary Wolf City Bank's trading floor involved wearing a blue shirt, a yellow tie, and a poorly fitting suit jacket from Next.
  • The trading floor was vast, with traders surrounded by numerous screens, and Gary's first task was buying lunch for four people and handling change.
  • Initially reprimanded for returning change, Gary adapted by keeping the change, leading to buying lunch for everyone and proving his capabilities.
  • Gary encountered wealthy traders like R, who had a designated taxi driver and a peculiar habit of urinating on the Bank of England on his way home.
  • Gary's experience with R highlighted the rigid class distinctions and the pressure to compare oneself to others based on wealth and background.
  • Despite facing challenges, Gary's first significant bonus at 23 was nearly £400,000, exceeding his expectations and reshaping his financial perspective.
  • Gary also experienced significant losses, losing $8 million in a week, which isolated him from friends and family due to the stress and pressure of trading.
  • A meeting with a City Bank economist revealed global financial crises, leading Gary to realize the wealth accumulation dynamics and the impending economic collapse.
  • Gary's successful bet on zero interest rates, earning millions, made him question the morality of accumulating wealth and eventually led to his decision to leave the trading world for a more meaningful pursuit.

23:34

Wealth Inequality: Illusion of Happiness and Success

  • Growing wealth inequality is a significant issue in the country, leading to collapsing living standards, unaffordable housing, and a rapid transfer of wealth to the super-rich, while government debt rises and working people's living standards decline. This disparity between the rich and the rest of society creates a false narrative that happiness and value are tied to wealth, making it challenging for ordinary individuals to achieve financial success, despite working hard. It is crucial not to fall for the illusion of wealth as the key to happiness, but instead, take pride in hard work and achievements, as the current system often sets unattainable dreams for many hardworking individuals.
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