Poor Kid Makes Millions Trading, Fights Inequality with Gary Stevenson

Crazy Money with Paul Ollinger

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3M ago 1:05:14

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Gary Stevenson grew up in tough, working class East London. Despite setbacks in high school (having to do with the distribution of illicit substances), his gift for mathematics landed him a spot at London School of Economics (alma mater of Mick Jagger, Margaret Thatcher, and George Soros) where he attended with the sons and daughters of the global elite. His skill at a card game won him a job on Citibank’s trading desk and he went on to earn multi-million dollar—er, pound sterling—bonuses in his early 20s. Gary eventually become Citi’s top trader but the game started to take a physical toll on him. The stress, pressure, and moral conflict of betting against poor people—at least that’s how he saw it—led him to leave trading and begin to address growing income inequality around the globe. In this fast-paced and insight-rich conversation, Gary and Paul discuss:

Gary's new memoir, The Trading Game: A Confession.
The risks of trading currency
How he felt when he got his first bonus of $750,000
Bias against working-class people
Why he knew it was time to quit the industry
The positive role of short-sellers in a market
His YouTube challenge, Gary’s Economics
Hot to tax billionaires more

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253 episodi