Bedroom Trader Amasses Fortune, Becomes Prime Suspect of Flash Crash · Liam Vaughan
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- Опубліковано 4 чер 2024
- EP 194: Bedroom Trader Amasses Fortune, Becomes Prime Suspect of Flash Crash w/ Liam Vaughan
Liam's a finance author and senior reporter for Bloomberg. His latest book Flash Crash (amzn.to/3bPK90B) tells the story of Navinder Singh Sarao, a London trader, living at his parents house, who made ~$70M from his bedroom and was later accused by the U.S. government of playing a role in the 2010 Flash Crash.
This was a deeply perplexing event in which the U.S. stock market, one afternoon, plunged approximately 9% and then almost completely rebounded, all in the space of just 30-minutes.
While Liam speaks on many interesting moments from Nav’s life in this episode-from beginning as prop trader in 2003, through to when he was extradited to the U.S. in 2016-it’s only a sample of what’s covered in the book (an absolute must-read!)
Nav is my hero, absolute legend, he made a mockery of the HFT firms and hence he was persecuted !
One of the best interviews so far! My take on this: algos f*** humans: no problem, human f*** algos: CRIME
Nav is the man ... we need a big screen picture about Navs life and his epic story in the financial markets.
Nav is the victim, those HFTs have been spoofing for the loooooooongest time damn it !
Chat With Traders podcast has been my TOP 1 go-to podcast on trading. Thanks so much for the valuable contents..
Me too
Just listened to this one yesterday and was amazed by this incredible story.
Aaron, I also want to thank you for creating such exceptional podcasts. Every episode is full of knowledge & motivation. Please, continue doing what you're doing!
I don't see anything wrong with this. He just found a way to beat the market
@@massincreasing833 bullshit.
He earned the right to move the market
Clifton Volatile yes it does. The HFTs are using money to beat other retail traders and were getting bested at their own game.
it is wrong to beat the market, we retail trader are supposed to lose not win.....
Wrong he beat the algos, and the algos beat the market. Algos are the establishment who scalp from retail traders. So the rulemakers made it illegal to beat the house.
Nav was released ...This should be movie!!
Incoming
Good on ya Aaron. Good diversity of content man. Channel is expanding well!
i listened to it earlier on podcast. and man cant wait to get the book!!!
If you can get Nav on this podcast, i'd do a backflip
fascinating stuff Aaron..you hit that interview out of the ball park...
Liam, fantastic lecture. One of the most interesting on UA-cam for trading
Coming here from Bloomberg the same Liam but different platform to campaign his new book. I would say the quality of the author's talking tone in organized depicting and the crucial questions from Aaron, I give this show of this theme A+
Love listening to these interviews! Keep the content coming this helps with psychology!
Aaron you are such a great interviewer!! Thank you for producing such valuable content! It has made a big difference for me.. life changing actually! 😁
GOOD INTERVIEW thanks for sharing
most interesting podcast...interviewer asked excellent, questions to get informative answers ...must get the book...followed it initially then went off my radar...thank you
You make us retails traders proud. Excellent brains.
Aaron, I've listened to most of your podcasts and I think this is my new favorite. I really enjoyed listening to your interview with Liam so much I downloaded Liam's book on Audible. I'm about halfway through the book and have really enjoyed it so far. I personally think Navinder was done really wrong. How is it fair that these huge institutions can create algorithms to cheat us out of our money but we can't create algorithms to take money from them? Talk about stacking the deck of cards! Thanks again for another great podcast.
Great interview, thank you for this.
This was the best interview 👍👍🤠
Great story, I really enjoyed this one.
Very interesting, might pick the book up.
That was great. Thank you.
Depending on how it was executed, this could be turned into one of the most badass movies of all time.
Yeah! I mean definitely one of the most badass within business/finances world!
@@dmitrijvasiljev4375 There is going to be a movie based on the book. Dev Patel is going to play Navinder Singh Sarao
Conrad you just made my day, thank you. I just googled, and super excited now.
@@radomillion :D :D :D :D :D
The crazy shit is that algos are still doing this stuff. If you have bookmap or other heat map software you can see these orders that stay several ticks away and move up and down with the markwt never getting filled.
Yes, but they are generally balanced on both sides simply providing liquidity. He would put them only on one side with the intention of manipulating markets. And yes, I know this goes on all the time he’s Just the fall guy
Fantastic story!!! Good job!
Really insightful podcast...
Ordered the book ... hopefully somebody will make a movie !
It's the quiet ones you really need to keep an eye on.
This is a super interview covering an individual's activity that will be studied for years. Algo or not; markets are the same. Learn the market's tendencies and you can construct an edge and stay within the legal boundaries.
Brilliant both of you, Liam I hope you make a film.
www.thebookseller.com/news/dev-patel-star-flash-crash-film-1192808
Great job guys!!!
Excellent. Thanks
Having just read it and been enraged by it, here's my summary of the book (a very good read btw):
Recounting of U.S. regulators' fervent quest to do the bidding of HFT firms in trying to imprison an independent trader for 300+ years for the apparently illegal act of bluffing.
Legend!!!
Where can I find his post about the market from 2007 you guys talked about ?
Great interview!
Great Content! 👍✨✨
Oh how I missed you Aaron! Though I’ve been out of it due to Harvard + Covid myself
🧡💛💙💚 Great interview. Liam, I am going to purchase your book. And use the affiliate link from Aaron in the comments. Thanks guys, great stuff 🧡💛💙💚
Wow great podcast!
Awesome content bro.
We need a link to the Nav's forum posts. What forum was he on?
Liam - thank you for sharing. Great story and well presented!
Great book!!!
Get the real man on the show... We want to hear him. !!!
Awesome book !
Wow, I need to read this book lol
Someone needs to make a movie about this guy.
J Kreutzer. They are.
variety.com/2020/film/news/dev-patel-flash-crash-thriller-movie-1203508678/
brilliant
Long awaited episode
High frequency traders screw the retail traders and this one guy screwed the HFT. Brilliant!
GET NAV ON HERE
Navinder Singh Sarao is a great man.
So his program spoofed the algos. And the algos crashed the market. That’s illegal but it’s legal for algos to scalp from retail traders by buying and selling faster than you and marking it up a tick when selling it back to you. And if algos didn’t exist, his acts would have no effect
That dude is my top 2 hero
I still these spoofs in the level 1 every day. LOL. Usually when it looks like they want to push in down they are accumulate and it will go up.
Exactly
What a fucking boss. Beat the game and they are mad at him, LOL
Incredible story, may have to pick up the book
If only he'd put a pic of it up on the screen. Or mentioned the name of it. I shouldn't have to go back & search if he said the name & I missed it.
@@PropertyAngel1 Its called "Flash Crash", it's in the title also with the author's name
is there any podcast with the man himself anywhere?
The Eminem of trading!
Algo must be prohibited
When someone like Navindar gets caught violating SEC Regulations, is that an automatic lifetime ban from trading? or after sentence is served, that person can continue trading? Or they are required to use a Financial Planner to do it on their behalf? How does it work?
Nav is the man.
Was it not the Nav correction that lead to the market crash?
Sick!
Nav was released in Jan'20..
Does that explain the market crash this year?
@@fisherh9111 It may be a coincidence as market experts were talking about crash since last September-October.
Now on lock down in his bedroom....
@BobbyG If he was patient zero of the Coronavirus, then yes, one man can take down the worlds markets...
He was doing price spoofing. That's what the banks do on a daily basis.
His only mistake not lining politicians pockets with money he made. Wallstreet picks peoples pockets everyday.
We want Nav!!
They love to take peoples money but they hate when someone takes theirs. Btw he wasn't from his bedroom, he started a business with the best brokers in the UK
I didnt even know you can't place an order that you intend to cancel.. lol too much regulations lol On top of that it's not illegal to have an order not filled lol so many times i place an order and it didnt get filled and I can't sue them for making me lose money!! lol
We want Nav!!!!!
We want Steve Ruffley ! Please !
Aaron was high af 😂
A family of very successful Mexican businessmen offering 11% annual return
for export finance? El Chapo's Sinaloa cartel comes to mind.
I couldn't write a better subplot to a Narcos season if I made it up.
so true... keep hearing these stories over and over.. never trust anyone with managing your money, even the 'best' investment banks, and if you do want to test it only give less than 5% of your capital
Nav was the fall guy for the flash crash. There were many others who did much worse things than he did. They needed a patsy and Nave was the guy they used.
Sounds like wolf of Wall Street 👌🏾
It will be grt if we can hear from the man itself...
Wonder if he's still trading?
The system always trying to make an example out of the little guy by demonizing the retail trader.
damn why did Nav trust his money to all the sharks. He fucking made a shit ton without any bullshit gauranteed return. just gave it all away. SMH
Fucking amazing episode
Nav was used as a scapegoat.
We want Nav
Everyone defending the guy, not realising that HFTs still trade using publically available data, Sarao manipulated that data, effectively stealing not from just the HFTs but also from everyone else.
It's brilliant, but still not justifiable.
This is exactly how the Airline stocks are getting spooked throughout this market the last 2 months. Someone is trying to recoup their loss by pumping the premarket on the front side of a two week cycle then shorting everything.
how do you know? source?
noice
WALL STREET SPOOF ALL DAY AND EVERY DAY LEVEL 2 IS RIG
Do you trade aaron
So he was trading with maybe 40 million at that time so all it takes is 40 million to move 1 trillion ?
Great podcast..... Liam is interesting because of his detail,
I don't think Navinder himself would have been half as interesting being autistic
poor guy, if only he had money for a lawyer
Anti establishment Trading , a very interesting chat . He beat the banks with his single mind set and taught them a few lessons , and then helped them . If it was not for people like him the world would be a little more naive .
What Nav did to HFT people is basically Rob the Thieves 😬😬😬
so kenny boy is the main villain of this story
Where to find this book for free?? Any idea?
Nav should have said he had an accomplice.
The same guy that scammed him out of millions.
IMO.
Dare I say it... they needed a scapegoat. And they does NOT mean HFT'ers...