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Animal Spirits Podcast

Talk Your Book: Trading with MarketSmith

Animal Spirits Podcast

The Compound

Business News, News, Investing, Business

4.72.1K Ratings

🗓️ 17 June 2019

⏱️ 41 minutes

🧾️ Download transcript

Summary

Michael & Ben sat down with Irusha Peiris to discuss the psychology behind trading, why it's so difficult to become a full-time trader, the types of stocks that can be big winners over time and much more. Find complete shownotes on our blogs... Ben Carlson’s A Wealth of Common Sense Michael Batnick’s The Irrelevant Investor Like us on Facebook And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Today's Animal Spirits Talk Your Book is brought to you by MarketSmith by Investors Business Daily.

0:04.0

Go to Investors.com, backslash Animal, and get your first three weeks of Market Smith for 1995.

0:10.0

Welcome to Animal Spirits, a show about markets, life, and investing.

0:15.0

Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.

0:21.0

Michael Batnik and Ben Carlson work for Ritholt's wealth management.

0:25.0

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

0:29.4

and do not reflect the opinion of Ritholt's wealth management.

0:32.4

This podcast is for informational purposes only and should not be relied upon for investment decisions.

0:37.0

Clients of Ritt Holt's wealth management may maintain positions in the securities discussed in this podcast.

0:42.0

Bet and I sat down with Arusha Paris from Market Smith to talk about all things training, which are near and dear to my heart.

0:51.0

I feel like you had a really good time with this

0:53.6

conversation. Yes you were very locked in because I had a great time and when we

0:57.6

walked out of our talk with him we went to LA and went to investors

1:00.9

business daily offices and when we walked out of there you have like a peb on your step and you I feel like you

1:06.2

wanted to go trade. Oh yeah. Is that fair to say? So here's a little backstory on my trading career. I left the insurance company I think in

1:18.4

early 2010 and when I left I was delusional, I would be able to find a job in the financial services industry.

1:27.0

I didn't know what I wanted to do. I remember hearing terms like buy-side or sell-side and I didn't know anything.

1:32.0

So what I did when you don't, like most people don't know anything is I went to the library and I started to learn and so I was reading books reading newspapers watching people on stock twits and Twitter, and studying for the CFA exam.

1:46.1

And so I was unemployed, I guess from 2010, I guess my job was to learn, which is not really

1:51.8

a job, but I guess my parents

1:53.7

helped me a little bit with my bills because I had blown through all of the money

1:58.8

that I had saved so when I was in college I was home and I was a waiter and and I was doing that full time so I'd saved up a decent amount of money which allowed me to be at the insurance company for 18 months without earning literally like a single dollar.

...

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