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!)

КОМЕНТАРІ • 202

  • @billsgp7744
    @billsgp7744 4 роки тому +53

    Nav is my hero, absolute legend, he made a mockery of the HFT firms and hence he was persecuted !

  • @TraderJR
    @TraderJR 4 роки тому +37

    One of the best interviews so far! My take on this: algos f*** humans: no problem, human f*** algos: CRIME

  • @wallstreetwarrior7840
    @wallstreetwarrior7840 8 місяців тому +3

    Nav is the man ... we need a big screen picture about Navs life and his epic story in the financial markets.

  • @eztts
    @eztts 4 роки тому +68

    Nav is the victim, those HFTs have been spoofing for the loooooooongest time damn it !

  • @VixGuyOfficial
    @VixGuyOfficial 4 роки тому +28

    Chat With Traders podcast has been my TOP 1 go-to podcast on trading. Thanks so much for the valuable contents..

  • @dmitrijvasiljev4375
    @dmitrijvasiljev4375 4 роки тому +13

    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!

  • @chrisjokinen217
    @chrisjokinen217 4 роки тому +169

    I don't see anything wrong with this. He just found a way to beat the market

    • @kevinparsley6806
      @kevinparsley6806 4 роки тому +1

      @@massincreasing833 bullshit.

    • @liam-n8098
      @liam-n8098 4 роки тому +4

      He earned the right to move the market

    • @TheInvestmentCircle
      @TheInvestmentCircle 4 роки тому +8

      Clifton Volatile yes it does. The HFTs are using money to beat other retail traders and were getting bested at their own game.

    • @The-Long-Haul-Trader
      @The-Long-Haul-Trader 4 роки тому +18

      it is wrong to beat the market, we retail trader are supposed to lose not win.....

    • @shawnl3151
      @shawnl3151 4 роки тому +4

      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.

  • @samuraisom636
    @samuraisom636 3 роки тому +11

    Nav was released ...This should be movie!!

  • @officialdiablo3beta
    @officialdiablo3beta 4 роки тому +15

    Good on ya Aaron. Good diversity of content man. Channel is expanding well!

  • @Theflawsquad
    @Theflawsquad 4 роки тому +4

    i listened to it earlier on podcast. and man cant wait to get the book!!!

  • @DisarMn
    @DisarMn 4 роки тому +15

    If you can get Nav on this podcast, i'd do a backflip

  • @matthewferguson9687
    @matthewferguson9687 4 роки тому

    fascinating stuff Aaron..you hit that interview out of the ball park...

  • @tc3724
    @tc3724 4 роки тому +1

    Liam, fantastic lecture. One of the most interesting on UA-cam for trading

  • @arrowb3408
    @arrowb3408 3 роки тому +2

    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+

  • @JuggMoneyBloc
    @JuggMoneyBloc 4 роки тому +3

    Love listening to these interviews! Keep the content coming this helps with psychology!

  • @khodler5551
    @khodler5551 4 роки тому +5

    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! 😁

  • @davidmadle5007
    @davidmadle5007 4 роки тому +2

    GOOD INTERVIEW thanks for sharing

  • @johngcahill9583
    @johngcahill9583 4 роки тому

    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

  • @mandyb6061
    @mandyb6061 3 роки тому +2

    You make us retails traders proud. Excellent brains.

  • @BD53162
    @BD53162 4 роки тому +5

    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.

  • @kc2445
    @kc2445 3 роки тому

    Great interview, thank you for this.

  • @wikitrader1
    @wikitrader1 4 роки тому +1

    This was the best interview 👍👍🤠

  • @robbi660
    @robbi660 4 роки тому

    Great story, I really enjoyed this one.

  • @mzar62458
    @mzar62458 4 роки тому +2

    Very interesting, might pick the book up.

  • @firlifanzhich236766
    @firlifanzhich236766 4 роки тому +2

    That was great. Thank you.

  • @overcastfriday81
    @overcastfriday81 4 роки тому +9

    Depending on how it was executed, this could be turned into one of the most badass movies of all time.

    • @dmitrijvasiljev4375
      @dmitrijvasiljev4375 4 роки тому +1

      Yeah! I mean definitely one of the most badass within business/finances world!

    • @radomillion
      @radomillion 4 роки тому +3

      @@dmitrijvasiljev4375 There is going to be a movie based on the book. Dev Patel is going to play Navinder Singh Sarao

    • @dmitrijvasiljev4375
      @dmitrijvasiljev4375 4 роки тому +1

      Conrad you just made my day, thank you. I just googled, and super excited now.

    • @BonafydeMusic
      @BonafydeMusic 4 роки тому +1

      @@radomillion :D :D :D :D :D

  • @JohnSmith-zs1bf
    @JohnSmith-zs1bf 4 роки тому +10

    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.

    • @malcolmlamphere3834
      @malcolmlamphere3834 4 роки тому +1

      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

  • @luismonteiro4370
    @luismonteiro4370 4 роки тому

    Fantastic story!!! Good job!

  • @tusharrawat8732
    @tusharrawat8732 4 роки тому

    Really insightful podcast...

  • @zannyee5946
    @zannyee5946 4 роки тому

    Ordered the book ... hopefully somebody will make a movie !

  • @PatrickRooney
    @PatrickRooney 4 роки тому +2

    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.

  • @MangoandPickle
    @MangoandPickle 4 роки тому +3

    Brilliant both of you, Liam I hope you make a film.

    • @scoobydoo3322
      @scoobydoo3322 4 роки тому

      www.thebookseller.com/news/dev-patel-star-flash-crash-film-1192808

  • @OpenG145
    @OpenG145 3 роки тому

    Great job guys!!!

  • @vineetverma4547
    @vineetverma4547 3 роки тому +1

    Excellent. Thanks

  • @TheFriscoFainter
    @TheFriscoFainter 4 роки тому +4

    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.

  • @billyenaire
    @billyenaire 4 роки тому +10

    Legend!!!

  • @gauharsingh7015
    @gauharsingh7015 4 роки тому

    Where can I find his post about the market from 2007 you guys talked about ?

  • @mastering_markets
    @mastering_markets 4 роки тому

    Great interview!

  • @vcash1112
    @vcash1112 4 роки тому +1

    Great Content! 👍✨✨

  • @TheInvestmentCircle
    @TheInvestmentCircle 4 роки тому +1

    Oh how I missed you Aaron! Though I’ve been out of it due to Harvard + Covid myself

  • @sommi888
    @sommi888 4 роки тому +2

    🧡💛💙💚 Great interview. Liam, I am going to purchase your book. And use the affiliate link from Aaron in the comments. Thanks guys, great stuff 🧡💛💙💚

  • @Eclectic_Cowboy
    @Eclectic_Cowboy 4 роки тому

    Wow great podcast!

  • @felixdavinci
    @felixdavinci 4 роки тому

    Awesome content bro.

  • @cacheflex8033
    @cacheflex8033 4 роки тому

    We need a link to the Nav's forum posts. What forum was he on?

  • @dannyzuehlsdorf3697
    @dannyzuehlsdorf3697 4 роки тому

    Liam - thank you for sharing. Great story and well presented!

  • @montestu5502
    @montestu5502 3 роки тому

    Great book!!!

  • @sinhaanip
    @sinhaanip 4 роки тому +5

    Get the real man on the show... We want to hear him. !!!

  • @Tehehe812
    @Tehehe812 4 роки тому

    Awesome book !

  • @beatricewillows
    @beatricewillows 2 роки тому +1

    Wow, I need to read this book lol

  • @jkreutzer7587
    @jkreutzer7587 4 роки тому +6

    Someone needs to make a movie about this guy.

    • @chrislane4979
      @chrislane4979 4 роки тому +1

      J Kreutzer. They are.

    • @stanleyjohnson7001
      @stanleyjohnson7001 4 роки тому

      variety.com/2020/film/news/dev-patel-flash-crash-thriller-movie-1203508678/

  • @nickk9499
    @nickk9499 4 роки тому

    brilliant

  • @andysingh4452
    @andysingh4452 4 роки тому +2

    Long awaited episode

  • @magicsaint
    @magicsaint 4 роки тому +5

    High frequency traders screw the retail traders and this one guy screwed the HFT. Brilliant!

  • @2enjoihsu
    @2enjoihsu 4 роки тому +5

    GET NAV ON HERE

  • @captainbanglawala2031
    @captainbanglawala2031 3 роки тому +2

    Navinder Singh Sarao is a great man.

  • @shawnl3151
    @shawnl3151 4 роки тому +2

    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

  • @zano9291
    @zano9291 3 роки тому

    That dude is my top 2 hero

  • @TimZ007
    @TimZ007 4 роки тому +1

    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.

  • @reddyuda
    @reddyuda 4 роки тому +1

    What a fucking boss. Beat the game and they are mad at him, LOL

  • @SamKling
    @SamKling 4 роки тому +4

    Incredible story, may have to pick up the book

    • @PropertyAngel1
      @PropertyAngel1 4 роки тому

      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.

    • @SamKling
      @SamKling 4 роки тому +1

      @@PropertyAngel1 Its called "Flash Crash", it's in the title also with the author's name

  • @polo8245
    @polo8245 8 місяців тому

    is there any podcast with the man himself anywhere?

  • @Dante-lh6nk
    @Dante-lh6nk 4 роки тому +17

    The Eminem of trading!

  • @hornomat6099
    @hornomat6099 3 роки тому +1

    Algo must be prohibited

  • @jeremyfaulk3836
    @jeremyfaulk3836 3 роки тому

    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?

  • @GearsDemon
    @GearsDemon 2 роки тому

    Nav is the man.

  • @hiltongourley5815
    @hiltongourley5815 10 місяців тому

    Was it not the Nav correction that lead to the market crash?

  • @rafaelosorio2251
    @rafaelosorio2251 4 роки тому +1

    Sick!

  • @falgunpatel6795
    @falgunpatel6795 4 роки тому +11

    Nav was released in Jan'20..

    • @fisherh9111
      @fisherh9111 4 роки тому +6

      Does that explain the market crash this year?

    • @falgunpatel6795
      @falgunpatel6795 4 роки тому +2

      @@fisherh9111 It may be a coincidence as market experts were talking about crash since last September-October.

    • @88jerryw88
      @88jerryw88 4 роки тому +1

      Now on lock down in his bedroom....

    • @formxshape
      @formxshape 4 роки тому

      @BobbyG If he was patient zero of the Coronavirus, then yes, one man can take down the worlds markets...

  • @diamondtek380
    @diamondtek380 4 роки тому +1

    He was doing price spoofing. That's what the banks do on a daily basis.

  • @lovenpeace271
    @lovenpeace271 4 роки тому +2

    His only mistake not lining politicians pockets with money he made. Wallstreet picks peoples pockets everyday.

  • @MK_3728
    @MK_3728 6 місяців тому

    We want Nav!!

  • @bdizz19
    @bdizz19 3 роки тому +1

    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

  • @brutusempire
    @brutusempire 4 роки тому +3

    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

  • @MK_3728
    @MK_3728 6 місяців тому

    We want Nav!!!!!

  • @mladenm1
    @mladenm1 4 роки тому

    We want Steve Ruffley ! Please !

  • @jpaulofigueira7356
    @jpaulofigueira7356 4 роки тому

    Aaron was high af 😂

  • @JA-pn4ji
    @JA-pn4ji 4 роки тому +6

    A family of very successful Mexican businessmen offering 11% annual return
    for export finance? El Chapo's Sinaloa cartel comes to mind.

    • @ats7766
      @ats7766 4 роки тому

      I couldn't write a better subplot to a Narcos season if I made it up.

    • @nickk9499
      @nickk9499 4 роки тому +1

      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

  • @jbjab99
    @jbjab99 3 місяці тому

    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.

  • @byronrich2780
    @byronrich2780 4 роки тому +1

    Sounds like wolf of Wall Street 👌🏾

  • @jojojo5807
    @jojojo5807 4 роки тому +1

    It will be grt if we can hear from the man itself...

  • @TonyMontana-sx6jv
    @TonyMontana-sx6jv 3 роки тому +1

    Wonder if he's still trading?

  • @cruisecontrol4922
    @cruisecontrol4922 3 роки тому +1

    The system always trying to make an example out of the little guy by demonizing the retail trader.

  • @crimpers5543
    @crimpers5543 4 роки тому +1

    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

  • @milesstewart88
    @milesstewart88 4 роки тому

    Fucking amazing episode

  • @gungadin1389
    @gungadin1389 4 роки тому +1

    Nav was used as a scapegoat.

  • @MK_3728
    @MK_3728 6 місяців тому

    We want Nav

  • @codenameHara
    @codenameHara 3 роки тому

    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.

  • @darektidwell1158
    @darektidwell1158 4 роки тому

    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.

  • @shresthas5644
    @shresthas5644 4 роки тому +1

    noice

  • @frankwalker1715
    @frankwalker1715 Рік тому

    WALL STREET SPOOF ALL DAY AND EVERY DAY LEVEL 2 IS RIG

  • @bakedcookie420
    @bakedcookie420 4 роки тому

    Do you trade aaron

  • @kiklocus4660
    @kiklocus4660 2 роки тому

    So he was trading with maybe 40 million at that time so all it takes is 40 million to move 1 trillion ?

  • @borntodoit8744
    @borntodoit8744 4 роки тому +6

    Great podcast..... Liam is interesting because of his detail,
    I don't think Navinder himself would have been half as interesting being autistic

  • @calvin6429
    @calvin6429 3 роки тому

    poor guy, if only he had money for a lawyer

  • @allsearpw3829
    @allsearpw3829 3 роки тому +2

    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 .

  • @mubarak3457
    @mubarak3457 2 роки тому

    What Nav did to HFT people is basically Rob the Thieves 😬😬😬

  • @rashidkhan-xm4rl
    @rashidkhan-xm4rl 2 роки тому

    so kenny boy is the main villain of this story

  • @chewgum728
    @chewgum728 4 роки тому

    Where to find this book for free?? Any idea?

  • @morganhardisty4724
    @morganhardisty4724 Рік тому +1

    Nav should have said he had an accomplice.
    The same guy that scammed him out of millions.
    IMO.

  • @natanluiza2936
    @natanluiza2936 3 роки тому

    Dare I say it... they needed a scapegoat. And they does NOT mean HFT'ers...