Stock Market Expert: A Warning on Artificial Intelligence, Memestocks, & The Next Crisis

The Iced Coffee Hour

Graham Stephan/Jack Selby

Entrepreneurship, Business

4.6 • 679 Ratings

🗓️ 15 September 2024

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

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Summary

NetSuite: Take advantage of NetSuite’s Flexible Financing Program: https://www.netsuite.com/ICED ZocDoc: Go to https://www.zocdoc.com/ICED and download the Zocdoc App for FREE HIMS: Start your FREE online visit at https://hims.com/ich for your personalized hair loss treatment options NEW: Join us at http://www.icedcoffeehour.club for premium content - Enjoy! Add us on Instagram: https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan Official Clips Channel: https://www.youtube.com/channel/UCeBQ24VfikOriqSdKtomh0w For sponsorships or business inquiries reach out to: [email protected] For Podcast Inquiries, please DM @icedcoffeehour on Instagram! Timestamps : 00:00:00 - Intro 00:01:20 - How did you become a "Wall Street icon"? 00:03:28 - How accurate is Wall Street compared to what you see in movies? 00:04:49 - What is the pay like starting off on Wall Street? 00:08:42 - What's the difference between an investment banker and being on the trading floor? 00:09:41 - What does a stockbroker do? 00:12:32 - Sponsor - Netsuite 00:13:45 - How do market makers earn money? 00:15:42 - What was it like on Black Monday 1987? 00:17:07 - Causes of the 1987 crash 00:19:20 - How did your career progress after the 1987 market crash? 00:24:01 - What's your opinion on the stock market today? 00:34:21 - What's the biggest risk to the stock market in the next two years? 00:36:36 - Do you think the government is always going to step in to save Wall Street? 00:38:29 - Sponsor - Zocdoc 00:40:04 - What do you say to contradicting evidence that the economy is currently stable? 00:42:02 - Do you think the average person can/should try to beat the S&P? 00:47:15 - Why can't you make an algorithm to trade for you? 00:48:26 - How is Nancy Pelosi such a good investor? 00:50:51 - Thoughts on WallStreetBets and GameStop? 00:54:50 - Influencers and how they can effect the stock market? 00:57:14 - Who is the most effective investor of all time? 01:02:36 - Sponsor - Hims 01:03:53 - Should the stock market be open 24/7? 01:05:07 - Thoughts on crypto? 01:07:03 - Will the US dollar lose its dominance? 01:07:52 - How did you get started on Wall Street? 01:09:27 - How did his parents survive the Holocaust? 01:18:26 - Was it difficult to relate to other kids growing up because of what your parents taught you? 01:21:39 - Do you believe that everything happens for a reason? 01:22:45 - How did your older brother get you into Wall Street? 01:26:34 - What's up with the hair? *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	I thrive on chaos.
0:04.2	We traded millions of shares every day, the open outcry, screaming and yelling, absolutely
0:09.0	frenetic, adrenaline-filled wild crazy time.
0:12.4	I've seen every crash since 87, the bubble of 2000 crash of 2007, COVID.
0:18.0	I'm there to forensically try and understand why the market does what it does.
0:21.9	Is it rigged?
0:22.8	Well, I don't like the term rigged, but is there a bit of a control going on?
0:27.1	Yes.
0:28.3	What do you think the biggest risk is to the stock market over the next two years?
0:33.2	We're in the middle of this AI phenomenon, this crazy tech trade.
0:37.4	We've got bank crises, we've got
0:39.3	wars going on. What ends up making a crash is when you have a perfect storm where suddenly
0:45.4	everything comes together at once.
0:51.9	Peter, thank you so much for coming on the iced coffee.
0:54.5	This is really neat.
0:56.4	The iced coffee hour.
0:57.6	You're known as the Einstein of Wall Street.
1:01.4	And where I first found you, I believe, was probably 2019, 2020.
1:05.8	Your face was everywhere on CNBC.
1:08.2	Any time there would be a stock market panic, stock market, you know,
1:12.5	increase, whatever it is, your face is across everywhere. Where did that start?
1:19.0	So, you know, I'm really happy to be here. This is great. I appreciate it. You know,
	...

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