194: Liam Vaughan – Bedroom Trader Amasses Fortune, Becomes Prime Suspect of Flash Crash

Chat With Traders

Tessa Dao

Education, Business, Investing

4.9 • 2.3K Ratings

🗓️ 8 May 2020

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Liam Vaughan is a finance author and senior reporter for Bloomberg. His latest book Flash Crash 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. For anyone unaware, 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!) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:12.0	Markets, speculation, and risk. This is the chat with traders podcast hosted by Aaron Feifield.
1:21.0	Hey everyone, what is good? Welcome to the show. Here we are for episode 194.
1:28.0	Joining me is Liam Vaughn, finance author and senior reporter for Bloomberg.
1:33.0	Liam's latest book is Flash Crash, which tells the story of Navenda Singh Saraw.
1:39.0	A London trader living at his parents' house who made $70 million from his bedroom
1:46.0	and was later accused by the US government of playing a part in the 2010 Flash Crash.
1:52.0	Just for anyone who is unaware, this was a deeply perplexing event in which the US stock market,
1:58.0	one afternoon plunged approximately 9%, and then almost completely rebounded,
	...

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