00:00We got the trading game here. This is Scar Foo's book. Scar, tell us about the trading game.
00:04Okay, it's by Gary Stevenson, who is a trader on the FX and rates desk at Citi in London just
00:08before and during the financial crisis. He grew up in the wrong part of London, but went to LSE
00:12because he was a math whiz. He made a ton of money for Citi and himself, a 400,000 pound
00:17bonus in his
00:18first full year as a trader when he was 23. And he had a thesis driving all his trades, which
00:23is
00:23that interest rates would stay low and inequality would worsen. What's interesting to me is that
00:28later on, and the book gets into this, he had a come to Jesus moment where he quit the industry
00:32and now he has a YouTube channel teaching people about real world economics.
00:36This is great. The iconic math exam at the London School of Economics, that's what Mr. Jagger,
00:41who went on to sing. Oh, the one that made Jagger.
00:44Mr. Jagger went on after he bombed out of the math exam at LSE years ago. It's a rigorous test.
00:50I mean, I'm making him sound preachy here, but he's really not because the book is fun with a
00:54lot of descriptions of the characters on trading floors.
00:56My book is definitive. You read it every five years if you're in the game. This is a book.
01:01Sarah, if you haven't read this book, you're in my timeout chair. Reminiscence of a stock operator.
01:06This book is 103 years old, and there is a lesson about every four pages. There's a point in here
01:12with Jesse Livermore. It's so stressful in New York, in Boston, he goes to Florida for vacation,
01:19and he learns more about trading in Florida from the cotton traders than he does in New York or Boston.
01:27This is a classic, classic book. It's criminal that it's not part of a job assignment.
01:33What was the last time you read it?
01:34I read it about three, four years ago, and I'm due to read it again about right now. I think
01:37I'll do
01:38that. The annotated version is worth its weight in gold. It's a bigger, almost like coffee table.
01:42Yeah, and it's hardcover, too.
01:44Hardcover. Well, yeah, we only do a hardcover on Bloomberg.
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