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IConnections is the largest membership only platform for the alternative investment industry.

Bringing together thousands of fund managers and allocators and one powerful hub. IConnections re-imagine how the industry connects through its digital offerings and premier in-person events, empowering allocators and managers to meet, build relationships and do business anytime, anywhere. To explore more about IConnections, its events and gain access to the members-only platform, visit iConnections.io. All right, welcome to the Risk Reversal Podcast. I am Dan Nathan. I'm joined by Andrew Ross Sorkin. Hello, hello. Hello. This is like your, I think, like 500 podcast that you've done in the last couple months. Not true. Not true. Well, just so you know, if you're listening to him and you're trying to figure out who ARS is, you definitely know. He is a New York Times best-selling author. He just wrote or just came out. You didn't just write. It took you eight years to write this book. All right. It's 1929, inside the greatest crash in Wall Street history. Yeah, exactly. And Howitt shattered a nation. Okay, I read this book.

I love this book. We're going to talk about this. You're also obviously a columnist for the

New York Times and the editor at large deal book, which we all read very often. You captivate us

with these events that you guys put on. I want to hit some of that. I want to hit your experience at CNBC, your experience overall in media because you really do have a very unique sort of multiple seats, I guess, I would say. And I want to get a whole host of other things. We're going to get into the markets and some of the lessons of the book. And let's just start here. You've written now two seminal books. I know that you're going to say, well, let's just hold on. Let's see how the 1929 does, okay? But too big to fail is going to be now on the list or it probably has been on one of the first books that anybody who wants to go into Wall Street is told to read. Is that true? Would you say so? I have happily seen it on those lists.

Yeah. So yes. Well, I remember starting the business in 1997, I started working in a hedge fund,

okay? And then the year leading up to it, like there's always those books that people like.

The books. Lyers Poker was one of them. Totally. Reminiscences of a stock operator was one of them.

Now it's too big to fail. And I believe this will be one. And I'll tell you why. You can only cross our fingers. Well, all right. So you talk to me about it. I'll shut up because this is my podcast, but it's you're here to kind of tell the people what's going on here. There's so many things that are going on right now that are so similar.

You and I were on the people what's going on here. There's so many things that are going on

right now that are so similar. You and I were on the 11th hour together on Steph Ruhl's show and we're talking about it. And Steph, who's a former banker and she's really interested in this stuff, she was drawing it out. So how do you think about this in the context of where we are right now? And you and I will have a markets conversation.

We'll get into that.

But like you started writing it eight years ago.

It wasn't this environment back then.

So totally. Like there is a pattern recognition thing that's happening if you are focused on what happened in 1920s to what's happening now.

But by the way, here we are in the the 2006. There was a moment when I was writing

this book in, called it, 2021, where I was having a different pattern recognition moment,

which was GameStop and AMC and the memification of stuff. I mean, that felt that actually, in that

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