3408: Trading Games by Nick Maggiulli of Of Dollars and Data on Smart Trading Strategy
Nick Maggiulli unpacks the rise and downfall of Atlas Trading, a group of financial influencers charged with running a $100 million pump-and-dump scheme
Optimal Finance Daily - Financial Independence and Money Advice · Optimal Living Daily | Diania Merriam
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Show Notes
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Episode 3408:
Nick Maggiulli unpacks the rise and downfall of Atlas Trading, a group of financial influencers charged with running a $100 million pump-and-dump scheme. Through this cautionary tale, and a parallel story of extreme legal risk-taking, he exposes the dangerous allure of quick profits, while reminding us that the real pros in finance aren’t making headlines; they’re quietly doing honest work.
Read along with the original article(s) here: https://ofdollarsanddata.com/trading-games/
Quotes to ponder:
“Do not use followers as exit liquidity. Do not flex, or entice others to do your trades. Do not lie.”
“The more risk you take, the more likely you are to see an extreme outcome (to the upside or the downside).”
“In the game of trading, the only winning move is not to play.”
Episode references:
Jason Zweig – The Intelligent Investor column: https://www.wsj.com/news/author/jason-zweig
SEC lawsuit press release: https://www.sec.gov/news/press-release/2022-219
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