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Quoth the Raven

Quoth the Raven #355 - QTR's Origin Story Explained, Interviewed By Phil Bak

Quoth the Raven

Quoth the Raven

Investing, Business, Comedy, Business:investing

4.5979 Ratings

🗓️ 23 November 2025

⏱️ 66 minutes

🧾️ Download transcript

Summary

My November 2025 interview with Phil Bak of BakStak: https://philbak.substack.com/p/podcast-becoming-quoth-the-raven These podcasts, posted here, are now all on a slight delay and are taken from my near-daily blog, Fringe Finance. As of right now I have no sponsors, so the best way to show support is just to listen/read or subscribe to my blog: http://quoththeraven.substack.com  You can also still contribute a one time or recurring donation to the podcast via Patreon: https://www.patreon.com/QTRResearch All podcast content is subject to this disclaimer, which you should read slowly, multiple times. Thank you all for your continued support over the years. I stand on the shoulders of the people who listen to and/or enjoy my content and I never lose sight of that. QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author. This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog or what my guests say. Nothing is fact checked. I exist on the fringe. Assume any and all numbers in this piece are wrong and make sure you check them yourself. The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

Transcript

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0:00.0

Phil.

0:01.1

Welcome back to the podcast.

0:02.7

Our guest this week is the one and only QTR, Quatt the Raven, Chris Irons. I'm super excited for this episode. I'm a huge fan. I'm a huge fan boy of QTR. Read every single thing you post on French finance. I listen to the pie. I miss the old podcast, but I'm watching the new ones now with Gamin, and thank you for coming on.

0:22.4

Well, we know each other well enough that you don't have to say that you're a fan.

0:26.6

I think at this point we're just acquaintances, you know, we know each other.

0:30.6

So anyways, but you're welcome and happy to be here and great to see you.

0:35.2

No, it is true.

0:36.5

I think there are, I was actually to say, there are very few that I think have such an

0:42.8

appreciate, just there's so much in finance that's about, you know, pedigree and vocabulary

0:48.4

and people trying to be fancy and trying to obfuscate what they're saying with, you know,

0:52.1

with lingo and the way you just are able to

0:54.5

clear away the bullshit and just, you know, get to the heart of things and do it with humor is, uh, is really rare and, and, and really fun. And that's really the, the, the gist of what I want to get to today on the show is how did you get from point A to point B? How did you, you, you are now one of the top writers of finance on Substack.

1:12.7

You are.

1:13.5

Hang on,

1:13.9

everybody team saying that. from point A to point B. How did you, you are now one of the top writers of finance on substack.

1:12.7

You are.

2:17.6

Hang on, I, everybody team saying that, but I'm not. Julia Lbrose says, she's like, you're one of the top ranked substacks. I'm like, I don't think that I am. You know, I appreciate it. Yeah, if you cut it off at like the top eight, maybe you're not. but if you take to the top nine or whatever number you are, you are. So, you know, like it or not, man, you are. You done an incredible job and it's a great stack and anyone who's not subscribed needs to be. But it's really, I think the question of how you got there, because we're going to start this story with you are a bartender in Philly, which is how you started. And to go from there to where you are today is really acceptable. I mean, you didn't start in the Morgan Stanley analyst program, right? So I want to hear that story. I want you to tell that story because I think it's an absolute great story. I mean, it's like a movie quality story. So let's start there. Let's just kind of, you know, take me back, man. You are a bartender in Philly, right? You're trading on Scott Trade or something, right? And you're talking to, I mean, what was going on with your life before you got into finance leading up to all this? I don't have the temperament to come up in the Morgan Stanley, you know,

2:19.6

junior executive training program.

2:21.9

I just, I don't have it in me, you know?

2:27.5

Some people are good at taking the dong from people in positions of power who are playing to their own personal insecurities and failed marriages

2:31.8

and tiny penis syndrome and whatever other things bosses take

2:35.7

out on their like interns at these major banks. I'm not one of the people that is capable of

...

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