FTX Crash & How You Should Think About It

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 23 November 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

It is amazing. The FTX Crash has caught most people off guard and many celebrities lost money too. There is word that it is one big ponzi scheme with politicians, slush funds, celebrity endorsers, and trying to expatriate SBF back to the US to face justice. This is the stuff that is Michael Lewis will be writing about in the big Short 2 (which apparently he has been embedded for the past 6 months with SBF).

I do find it odd that I have not heard anyone screaming for his arrest yet. They got Bernie Madoff quickly. Why not this guy? Is there more to come? It is still too early to know all the details, but the initial reports are riveting... of course it could also be fake news.

Join us this week on Money Tree Investing's Beware of Inflation Episode with Kirk Chisholm and Barbara Friedberg.

For more information, visit the show notes at https://moneytreepodcast.com/ftx-crash-453-beware-of-inflation

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Megan Gorman | The Wealth Intersection

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Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.8	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.8	Hello Smart Money Tree podcast listeners.
0:12.6	Welcome to this week show.
0:13.8	My name's Kirk Chisholm and I will be your host.
0:15.7	So this week I'm joined with my favorite guests from California.
0:20.2	Well, I shouldn't say that because Megan's there too. I can't say
0:22.1	favorite. One of my favorite co-host is Barbara Freiburg. Hey, Barb. Hey, Kirk. Nice to be here. Well,
0:29.0	glad to have you on this week. And we're changing up a little bit. Certainly, it's always a pleasure
0:33.8	to have this with you. Now, I have to ask, what do you want to talk about this
0:38.4	week, Barb? We have a laundry list of things to talk about, and there's so much, where do you
0:43.2	want to start? I'm going to let you start since I don't want to do it. I want to talk about FTX. That is the huge
0:49.9	cryptocurrency platform by Bankman Fried, star 30-year-old entrepreneur, which has fallen,
1:02.6	bankrupt.
1:03.9	And what happened?
1:05.8	Were you caught up in this?
1:07.5	And how to make sure that you don't get caught up in this type of morass in the future?
1:15.0	Yeah, that's a good question. So let's dive right in. And I'm going to try to pull up some
1:18.9	images here because I've found some interesting ones. This is FTX, which if you guys haven't
1:24.3	been following it, I don't want to say you're living in a cave, but it's been the top story for quite some time now. I've said this on the last one or two shows
1:32.7	that I touched on it. I wanted to touch on it and just really let people know it was happening.
1:38.9	But I didn't want to get into it too much because there's this concept of what we call fog of war,
	...

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