SS 79 - The Big Hedge Fund Scam with James Altucher
Solomon Success » Podcast · Jason Hartman
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Show Notes
After James Altucher lost millions in the stock market, he decided to learn everything he could about trading and the Wall Street industry. He became a professional trader and then left the business for good after he realized it was 'all a big scam'. James shares some of his personal stories as a fund manager, what he does for investing today, and much more on today's episode.
Key Takeaways:
[4:35] James shares a bit of his life story.
[6:35] Wall Street is a scam and only three types of people really make money on Wall Street.
[9:45] James invests in micro caps in the stock market.
[12:23] Why do people still bother investing in Wall Street? James shares some of his personal stories.
[16:20] Jason read an article about how the average hedge fund investor doesn't make any money.
[22:58] Why don't more Wall Street crooks and criminals go to jail?
[30:30] James does intensive due diligence before he invests in a company.
[35:40] James shares his thoughts about the economy and the future.
Mentioned In This Episode:
@JAltucher