2208: Trading Games by Nick Maggiulli

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 17 February 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nick Maggiulli talks about trading games Episode 2208: Trading Games by Nick Maggiulli The goal of Of Dollars And Data is to help you make better financial decisions using the best information available. Ultimately, Nick wants you to act smarter and live richer. As a result, this blog will cover ideas such as: -What to expect from financial markets -How to think about risk -How to time investment purchases -How to find good information and ignore bad information -How to organize and manage your finances -The best ways to increase your long-term wealth And much, much more. Though the ideas presented on this blog won’t revolutionize finance, they will provide you with a different perspective on money that you can use in your everyday life. Nick is sure of this because of the hundreds of hours of research that went into the more than 300 posts currently published on this blog. The original post is located here: https://ofdollarsanddata.com/trading-games/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily Episode 2208, Trading Games by Nick Majuli of $1.00 and
0:08.0	Data.com, and I'm your host and personal finance enthusiast Diana Miriam.
0:13.0	Now let's get right to it and continue optimizing your life.
0:21.0	Trading Games by Nick Majuli of $1.00 and Data.com
0:27.0	This week, the SEC filed suit against eight financial influencers from Atlas Trading,
0:33.0	an online stockpicking community, for manipulating their social media followers
0:38.0	into buying and selling stocks for their own personal gain.
0:41.0	The suit explains how their scheme worked.
0:44.0	Quote, they identify stocks ripe from manipulation, acquire substantial positions in these securities,
0:51.0	and then recommend those stocks as good investments to their followers on Twitter,
0:55.0	an online stock trading forums they run, and on podcasts.
1:00.0	They encourage their followers to purchase the selected stocks,
1:03.0	often claiming that they likewise have bought or intend to buy these stocks for themselves and hold them.
1:09.0	Instead, the defendant sell their shares into the demand that their deceptive promotions generate, end quote.
1:17.0	Since January 2020, the influencers earned approximately $100 million from their illicit trading activities,
1:25.0	making it one of the largest pump and dump schemes in American history.
1:30.0	Alex Good wrote an incredible thread providing details on exactly what these influencers did,
1:35.0	and why you should avoid these kinds of behaviors.
1:38.0	He concluded, quote,
1:41.0	A, don't use followers as exit liquidity.
1:44.0	B, don't collude or provide early signals to friends.
1:49.0	C, don't discuss the materiality of your statements to price action privately or publicly.
	...

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