– Traderherojourney.com is the only Discord room for Traders that specifically works on the mindset of a trader.
– Intro to Steven Eisman
– How today’s banking crisis is different
– Steven’s philosophical approach: Traders need to shift into their new paradigm
– Steven’s courage and willingness to foresee what was happening
– Steven’s perspective on First Republic
– Paradigm shifts aren’t clear until they actually happen
– Rules of thumb – investing is not a religion
– The market at its current level will be changing
– The Eisman group takes a limited amount of investors
“The Big Short” Legendary Investor Steven Eisman
Talks 2023 Investing
In this podcast episode with guest co-host Grant Williams, we delve into the legendary Steven Eisman’s career, his notable contributions, mindset and his advice on navigating the complexities of today’s financial markets.
With a remarkable career spanning over two decades, Steven Eisman has emerged as a distinguished figure in the world of finance. Beginning his journey at Oppenheimer & Co., a prominent player on Wall Street, Eisman earned the prestigious title of All-Star Analyst, as recognized by esteemed publications such as Institutional Investor and The Wall Street Journal. However, it was during his tenure as Partner and Senior Portfolio Manager at FrontPoint Financial Services Fund that Eisman made his indelible mark. His remarkable foresight and predictions of the 2008 financial crisis were immortalized in Michael Lewis’s best-selling book, “The Big Short,” which was later adapted into an award-winning film featuring Steve Carell portraying Eisman.
Today, Steven Eisman is the Managing Director at Neuberger Berman, where he spearheads the Eisman Group within the firm’s esteemed Private Asset Management division. Leveraging his wealth of experience and expertise, Eisman continues to provide invaluable guidance and insights to investors.
Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal, or tax advice, or an offer to buy or sell any security. For full disclosures: www.thewallstreetcoach.com
Ep 59: Grant Williams’ Market and Mindset Wisdom
0:30 – Kim’s FREE ebook “Discipline and Finding Your Edge”
22:45 – Grant’s experience in the global markets and its effect on him
24:52 – Grant shares his most memorable interviews
29:05 – Over to the live recording from Twitter Spaces, where Grant addresses the state of the economy & more
Grant Williams’ Market and Mindset Wisdom
Grant Williams has spent 35 years in finance in a variety of global financial centers, building the kind of network and career that people only dream of. Perhaps you know him as the author and publisher of the wildly popular newsletter “Things That Make You Go Hmmm…” or as the host of the “The Grant Williams Podcast.” Or maybe you know him from his twin Real Vision interview series, “In Conversation With…” and “On the Road,” or perhaps his new series of video conversations, “About Time,” which continues that legacy.
He also acts as senior advisor to Matterhorn Asset Management AG in Switzerland and strategy advisor to Vulpes Investment Management in Singapore.
No matter how you cut it, Grant Williams is an expert in his field, and he has a LOT to say about the market, mindset, and the incredible power of curiosity.
Grant is known for his interviewing skills — today, Kim turns the tables and puts Grant in the hot seat. Here’s what you’ll discover in this action-packed episode:
What To Expect in This Episode
In this unique two-part episode, Kim starts by interviewing Grant about his incredible journey through the world of finance and the lessons he’s learned. As Grant puts it, “there are some things you can be taught and others you can only learn.” You don’t want to miss learning from his hard-won knowledge — it speaks to traders and investors at all levels, from newbies to veteran pros. Here are just a few highlights:
Grant believes that as traders and investors, “the first duty we all have is to not suffer big losses.” That being said, this bear market is different. Grant offers plenty of sage advice to help traders approach the current market, and shares why even experienced traders are struggling. Plus, learn why the “Just wait til it gets back to even” mindset is very dangerous thinking.
Speaking of mindset, Grant talks about his personal mindset tricks. Early on his his career, he experienced the 1987 trading crash. He was “standing around in a daze wondering what happened.” That experience taught him viscerally that crashes can happen. He explains the “problematic” side of a market like we experienced in 2020, and how “repetition and recognizing situations, recognizing how you are reacting to certain things that are happening to you” is key if you want to keep growing.
If you don’t make the same mistake twice, then every mistake is perfectly acceptable. Trading it takes more than once for those lessons to be learned and that’s OK as long as you avoid that catastrophic loss.
A frank and detailed discussion about recent crypto losses, the nature of bear markets, and the importance of having the courage to lose money.
The “impossible” question of how long the bear market will last and why there could be a shift from intangibles to “real value.”
Grant’s podcast has over a million downloads — after you experience this explosive interview, it’s not hard to see why. Be sure to listen to the entire interview to learn from this market master!
