YouSaid · the spoken record

Scott Patterson

lines on the record: 52
first: 2023-06-09
most recent: 2023-06-09
sittings or episodes: 1
sources: podcast

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“and was really freaked out by it. And he understood the nature of the risk that the pandemic posed before many others did. So he was able to enter these trades very cheaply because other people weren't recognizing the risk and ended up making billions of dollars when Ackman kind of, he really highlights one of the key traits of this chaos king trading strategy, which is you have to panic early. And panicking isn't a thing that usually want to associate with investing or trading. But in these situations, it actually sometimes is good to panic because if you don't, if you wait, if you try to assess the risk in the situation, it's going to get ahead of you and you're going to be too late and you're going to get run over. Similarly in the mid-2000s, there were hedge funds that saw what was going on in the housing market and the derivatives markets.”
2023-06-09 · We Study Billionaires · TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson · IDENTIFIED FROM THE TRANSCRIPT
“Chaos Kings, it's a term that I came up with in this book to describe a group of traders or investors who have managed to, in various situations, benefit and actually prosper during times of chaos. They see something coming that looks risky and dangerous and they make trades that can benefit from it or the people that I mainly profile Mark Spitzengel and Nassim Taleb of the Black Swan fame, they are constantly trading around the risk of chaos in the markets. So there's different varieties. There's some that use very advanced physics techniques to try to predict when something crazy is going to happen. There are others that just use their sort of gut instinct like Bill Ackman, who I profile in the opening section of the book, who in January of 2020 saw what was going on with COVID-19.”
2023-06-09 · We Study Billionaires · TIP558: How Ackman & Taleb Profited Billions During Market Crashes w/ Scott Patterson · IDENTIFIED FROM THE TRANSCRIPT