Wall Street Insane! EP06: Scam and Fraud on Wall Street!

The James Altucher Show

James Altucher

Education, Business

4.6 • 2.7K Ratings

🗓️ 10 September 2022

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

You can't believe some of the pitches that we heard during our hedge fund days! One of the funds that we managed almost got scammed out of 10's of millions of dollars! Also, do you think a hedge fund for crypto is possible?In this episode, Dan, Omid, and I talked about the craziest pitches we have heard, what it's like investing privately, and Omid's origin story into the crypto world after he quit!This will be the last episode of the Wall Street Insane, however, we will do another series on all the crazy stories like these!Listen to the episode and tweet at me @jaltucher or Jay, the producer, @jay_yow to let us know if you like this episode!Visit Notepd.com to read more idea lists, or sign up and create your own idea list!My new book Skip The Line is out! Make sure you get a copy wherever you get your new books!Join the You Should Run For President 2.0 Facebook Group, where we discuss why you should run for president.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts:Apple PodcastsStitcheriHeart RadioSpotify Follow me on Social Media:YouTubeTwitterFacebook ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Yeah, so the whole thing is I feel like it's almost the end of the world.
0:06.4	Like California, for instance, banning oil, oil production.
0:09.2	What are they going to do?
0:10.2	How are they going to even power their testless?
0:12.7	Yeah, I think it's 2035.
0:15.3	They've outlawed the sale of any new gas powered vehicles, right?
0:20.5	And meanwhile, you're not allowed to, I think now, no new oil wells can be drilled anywhere
0:24.1	in California.
0:25.2	And meanwhile, we're not getting oil from Russia anymore.
0:28.7	Saudi Arabia is hitting Pico oil or they did like a decade ago.
0:32.9	Like literally, what do people think is going to happen if you just play this out even
0:38.4	one year?
0:39.4	It's a real good question.
0:41.4	And then look, we can kind of get on California, but Texas, you know, you talk about California
0:47.6	being a blue state, Texas being a red state, they're having rolling blackouts at times
0:52.5	and they're concerned about that.
0:54.6	So it's just really strange when you look at it and you look at someone like China, for
1:00.8	instance, just came out, I don't know, two or three days ago, might have been a week
1:04.8	ago.
1:05.8	And basically said, they're coal-fired plants.
1:09.4	They're at all time highs, demands at an all time high, productions at an all time high.
1:14.4	And I think they said they have plans for just astronomical capacity through 2025, you know,
	...

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