00:00:09
there's only one bottom line on Wall
Street and that bottom line is how much
00:00:14
money you make you've gotta be smart
it's going to be quick if you see
00:00:19
something you got to act upon it so much
opportunity and gotta have the edge I
00:00:25
love my job.
we're always bumping and pushing and
00:00:28
shoving and shouting each other but at
the end of this day we still comrades it
00:00:32
on greed is ugly make as much money as
you can so that you can get out of there
00:00:38
before it turns you to the dark side
00:01:02
this means five that south
00:01:11
my name is John Hanuman anima commodity
floor broker at the comics division of
00:01:18
the New York Mercantile Exchange that
means I can trade base metals copper
00:01:23
alley I can say gold silver option under
the training right now cotton is open
00:01:29
they trade cocoa they drink sugar coffee
orange juice and would you see here then
00:01:35
this row is all metals silver gold
copper this is what I call my home and
00:01:40
my office the phones and I have an Fe
some of them go to Paris some of you go
00:01:45
to London many of them go to Chicago I
do resist the scrap dealers hedge funds
00:01:50
hedge traders individuals the broad
audience that we do business for here
00:01:55
and once best the copper ring now you go
to the gold ring which is the what we
00:01:59
call the fifth currency in the world
which is very sensitive to the value of
00:02:03
the dollar further on you have the
silver market which is more of a
00:02:06
commercial market than the gold market
I remember since 1970 I'm probably the
00:02:14
oldest active commodity floor broker in
New York my name is Janaki Spain and I'm
00:02:26
a trader I'm Richie from London and I'm
31 years old I trade the Schatz on New
00:02:35
York's exchange and I've been doing that
for approximately seven years for
00:02:39
Shahnaz to focus on the shots a specific
type of German fixed income security
00:02:44
there's a reason there it's to sort of
hone all the forces you can muster in on
00:02:49
one specific security and becoming the
expert on how that thing moves because
00:02:53
it's moving all day try please and I got
into finance was the money I have a goal
00:03:00
where I Sayed is how much money I'd like
to make every year and then I break it
00:03:04
down to monthly weekly and daily I don't
try and trade out of my reach I think
00:03:10
this one tricks of doing I'm an
independent trader which means i trade
00:03:15
my own money since i've been trading on
my own I've done pretty well my returns
00:03:20
pretty high and being really high there
is a lot of luck involved sometimes I'll
00:03:25
just go in and make money literally just
like then I'm like what did I do it has
00:03:29
happened but you've got a piece of mark
because I click trade so you've got to
00:03:33
be able to change your mind very quickly
that's how the markets react to you if
00:03:37
you see something you're going to act
upon it there and then you go remember
00:03:41
there are a lot of other people out
there doing the same thing as you got a
00:03:45
happy ending
00:03:59
hey how's it going hey things are
alright
00:04:05
you know trading the chugging along but
uh yeah yeah I mean things are going
00:04:10
well it's just going to take a few
months to turn around ya know we do have
00:04:17
this one position that's losing money it
really is a great company and even
00:04:21
though it is down quite a bit off its
eyes I mean the market is complete shite
00:04:25
lately
ya know we I mean I really believe the
00:04:29
fund has a great future here it's really
it's really all upside from here yeah
00:04:36
it's really not as bad as it seems I
know the stock is down but it's
00:04:42
meaningless right now until you see some
results I definitely wouldn't suggest
00:04:47
selling right now yeah no no I
understand okay yeah I'll email it yeah
00:04:57
it's um PDF just just sign it and fax it
back to me and that will be your 30 days
00:05:01
notice you can take it back at any time
you know I like your money I like you
00:05:06
alright I'll email you the form okay
00:05:19
I'm having lunch today with a group of
top-notch portfolio managers they meet
00:05:25
on a regular basis to discuss the
markets and I went to ask them their
00:05:28
opinions on which qualities to look for
in a very best manager in this business
00:05:35
5% of investors know what they're doing
10% follow the 5% and 85% have an
00:05:43
extremely difficult time what do you
think are the most important qualities
00:05:47
that an individual portfolio manager
must have it's fortitude in patience
00:05:52
because there's going to be times where
you have to be patient let things play
00:05:55
out and then you've the ability to take
a lot of pain perfekt your style you can
00:06:00
make money as a day trader you can make
money as a momentum play to make money
00:06:04
as a deep value player you just got to
stay with your strengths I think that's
00:06:09
very important one of the
characteristics that a good money
00:06:12
manager need is an evaluation of
management you have to psychologically
00:06:15
understand them and understand their
strategy my favourite companies are
00:06:19
those that have bad balance sheets with
absolutely crackerjack management by my
00:06:24
analysis that's where you really make
the money especially when people don't
00:06:27
believe them and they trade them down to
pennies you buy it when nobody else
00:06:30
wants and then all of a sudden you have
on your hands the stock which is up can
00:06:34
go up 100 200 500 times now this is
they're not easy to find but the micro
00:06:39
cap the small cap area that's where the
real value is in my opinion and I see
00:06:42
250 to 300
CEOs a year I visit with you need a
00:06:46
contrary in flavor to your thinking
process when everybody says it's bad
00:06:50
that's the time to look at them what we
have
00:06:57
well the he's gonna get his money out
and that sucks
00:07:06
the fund is down about 300 grand this
month alone which is what has got all
00:07:14
the investors flipping out because of
this this position this position that I
00:07:21
took one time I went long for a while
and this is this is the the price I'm
00:07:28
paying
he's a quarter of a million dollar
00:07:29
investor so he's a pretty large investor
and it happened you know I've I've lost
00:07:35
investors before god ah
you haven't even lost any money he's
00:07:41
just lost confidence this is Wall Street
Wall Street is about perception when
00:07:45
you're down this much in one month why
trust a 25 year olds working out of a
00:07:51
department make it short it may sound
pornographic what it actually refers to
00:08:02
is when you sell short a security that
you have not properly borrowed hence
00:08:06
when you sold it you were naked naked
short
00:08:16
I'm an independent floor broker I trade
copy one contract the cop is 25,000
00:08:23
pounds and every time I do a trade I
have to transcribe that on a trading pad
00:08:28
with the time within a minute that card
will be picked up by these people with
00:08:34
yellow jackets down here and also key
punch by my employees who entered into a
00:08:40
matching system to make sure we don't
have any errors so everybody knows in
00:08:43
the 15 minutes the financial integrity
of the trade
00:08:47
we always bumping and pushing and
shoving against quite heated we have
00:08:51
very stringent rules on physical
altercations in a couple of weeks ago we
00:08:56
had somebody choking somebody else we
hadn't both removed the floor so we
00:09:01
found out you know who is the culprit
and recorded and he'll be very heavily
00:09:06
funded I mean we yelling and we're
shouting each other but at the end of
00:09:11
this day we're still comrades and on
some look like family this is I would
00:09:15
consider this my family I'm here waiting
for this guy who raises money for hedge
00:09:22
funds and hopefully you like my fun
enough to raise money for me everybody
00:09:27
wants a million but it's questioning are
you going to get them are you worthy of
00:09:31
getting any money most people think you
need a big-time office in big time
00:09:35
employees and big time technology and
I've proven over the past few years they
00:09:39
all you need is a little talent a little
luck and a little philosophy but I got
00:09:44
to make my case telling what I do and
make him believe I am worthy and manager
00:09:50
selection what do you think I should be
looking for an independent intellect
00:09:56
is what's most important not a follower
I had a Chinese following the other day
00:10:01
and I want to see what this fellas
really made of you know and the Chinese
00:10:06
are inscrutable you don't really get
that answer just by looking him in the
00:10:09
face right so I attacked him with an
aggressive approach on certain touchy
00:10:16
subjects and the economy in China got
all upset and excited and I found out
00:10:23
what he was made of
I bought the stock of course for my
00:10:25
clients a very sharp excellent
businessman who knows his stuff and I
00:10:30
wouldn't have never found that out just
by asking a mundane questions without
00:10:33
insulting him but that's what's
important to understand the man what is
00:10:37
this man the right man to do the job you
have to be able to discern what is real
00:10:42
information and what is just tough I'm
not going to Tracy I'm going to attend a
00:10:48
seminar and called d'oeuvres as well I'm
on my own so it's important for me to
00:10:55
keep up to date on exciting my
competitors I want to catch up with why
00:11:02
not the executive board members of the
York
00:11:04
Jane she'll be able to answer my
questions I have there's regards to
00:11:09
products I'd trade and there's service
products that I use and I know them
00:11:13
personally size only tougher than trauma
training core there has been a recount
00:11:19
as to change living parameter
it's a man's world it definitely is a
00:11:25
man's world it's funny sometimes I'm out
and you know just to make myself feel
00:11:30
comfortable and I know I shouldn't have
to do this for me you know I'm not
00:11:34
afraid well at times I just tell people
on the secretary or PA because people
00:11:38
feel more comfortable talking to me but
then I'll be like okay I'm going to tell
00:11:41
you what I really doing this
people just switch off like they don't
00:11:45
know how to talk to me I've had comments
like people said to me oh I've been
00:11:50
talking down to you you know bill their
Fae things like that and I'll say to
00:11:55
myself that's a real stupid thing to say
like you talked me down to me big deal
00:12:00
just talk to me like a person
back in 2001 a lot of people need money
00:12:06
very easily the markets were very good
now there are a lot more players
00:12:11
definitely I mean at one point I was
anywhere from ten to fifty percent of
00:12:15
the volume of that particular contract
now I'm lucky for 1% I've had bad days
00:12:22
where I've lost money where the average
person here in the United States would
00:12:27
not probably make for five years so tell
me about your strategy
00:12:34
my strategy is short buy it you know I'm
shorting small cap and micro-cap stock
00:12:39
just when they run up you know there's a
lot of manipulation in the micro cap and
00:12:43
small cap area a lot of heights a lot of
retail euphoria a lot of people get
00:12:48
emails and text messages and phone calls
a night before saying o buy those stocks
00:12:52
it's going up they see you going up
there they buy the stock and I look for
00:12:56
these inefficiencies to short into these
these fundamentally flawed company it's
00:13:01
very unsophisticated the marketplace
that I do
00:13:12
I'm going to see Jim Rogers he's one of
the legendary investors of our times and
00:13:18
he started the fronton fund with George
Soros in 1973 and for the remainder of
00:13:23
the decade they had an unbelievable
return of 4,000 percent thank you well
00:13:32
this is certainly independent well this
is unique I've never seen this anew all
00:13:41
of this stuff comes from my travels from
various places around the world
00:13:46
you started the legendary Quantum Fund
with George Soros in the early 70s and
00:13:52
did that for ten years why did you stop
doing that why did you quit one reason I
00:13:57
quit was because I didn't want to wake
up at age 75 and they would say Rodgers
00:14:01
was a great investor that's all he ever
did though I mean I wanted to buy my
00:14:05
freedom and have the freedom to pursue
adventure so I did a lot of traveling I
00:14:10
motorcycles around the world done a
couple of those trips and in the car
00:14:15
trip around the world
no we were held hostage we went through
00:14:17
epidemics we went to Wars lizards and
deserts this is not a trip to Atlantic
00:14:22
City for the weekend you did what most
people dream about doing but they could
00:14:26
never afford it and they could never do
it the last leg of our trip in fact we
00:14:31
were coming down from Alaska we were in
Colorado when a guy came running over to
00:14:35
us and said oh my god just my dream he's
like 45 years old said I've always
00:14:39
wanted to do this and now you've
inspired me I'm going to do it too then
00:14:43
he looked at the car and he said well
that's a two-seater isn't it he said
00:14:46
yeah he said you mean three years
side-by-side in a two-seater you were
00:14:51
never apart we said yeah he said my
fiancee and I set out to drive from
00:14:55
Connecticut to California can we hate
each other he said we've never spoken to
00:15:00
each other since he said that bitch that
bitch got out in Denver and I don't even
00:15:04
slow down
how long would it take for you to
00:15:08
develop ideas so put money to work
someone wants to invest five or ten or
00:15:12
20 million value you wire me the money I
could have it in my brokerage account
00:15:16
next day you'll have the ideas to put it
already zero is there I'm your deepen oh
00:15:20
yeah I mean the ideas are there pretty
much every few days who have you
00:15:24
targeted who is your investor base
I need rich individual yes that's what I
00:15:28
needed and they're the hardest well you
need sponsorship most of the people I
00:15:32
need a long bias yeah so I mean you're
the other extreme yes refreshing we may
00:15:37
have people that say I appreciate it
great Canadian on you too
00:15:40
thank you I mean I got some money from I
don't know we'll see
00:15:46
he adds my materials talk to me on the
phone before didn't remember but this
00:15:51
time you saw me in person made my case
it seemed pretty interested it could be
00:15:56
CS but I know you've got access to so
much capital all I need is just a little
00:16:02
bit of that give me a little access a
little bit a little piece of his money
00:16:07
you know and I'm pretty damn happy right
now
00:16:11
you know I'm walking down the street
everyone can sense I'm happy so lay down
00:16:16
there already me why is he so happy why
is he so happy I'm happy I am so pleased
00:16:22
to live I'm a driven in a bit I bet a
million dollars
00:16:35
September 16 1920 is a bustling morning
on the exchange just before noon
00:16:40
horse-drawn wagons pulled to stop right
here
00:16:44
on the corner of Wall Street and broad
moments later the wagons and sky-high
00:16:48
the massive explosion killed 40 and
ripped into the house of Morgan you can
00:16:53
still see the gouges in the limestone
facade it is like in a movie this is a
00:17:04
secret door what do you think is the one
thing that made you so successful I
00:17:08
guess it's probably just being skeptical
and curious and inquisitive about what's
00:17:15
going on in the world and the
willingness or they'd eagerness to look
00:17:18
at things that other people don't look
at if something is very cheap by
00:17:22
definition people probably are not very
interested in and nobody's investing in
00:17:26
it and frequently that's where you find
your best opportunities if there's a
00:17:30
change taking place you don't do it just
because nobody's investing their
00:17:32
commodities was a perfect example in the
nineteen ninety-eight everybody giggled
00:17:37
when you said commodities or China they
were all drooling in talking about calm
00:17:41
what I was looking at commodities in
China because I felt that's maybe where
00:17:45
things were changing and where there
were opportunities so happens it was
00:17:48
right so how do you see China's future
extremely bullish on the future of China
00:17:52
yes the 19th century was the century of
the UK the 20th century was the century
00:17:57
of the US the 21st century is going to
be the century of China whether we like
00:18:01
it or not
00:18:06
usually I'm in here now in 10 minutes
before the opening so I could see what's
00:18:11
going on in the financial industry in
the rest of the world we can no longer
00:18:14
look domestically at the u.s. world
events have placed a question mark on
00:18:19
the stability of the US dollar and the
stability of the Western nations nymex
00:18:26
is the largest physical commodity market
in the world and it's just not trading
00:18:30
copper your trading dollars in trading
different currencies energy has an
00:18:36
impact on it the stock market has an
impact on it and I have a broad array of
00:18:40
markets to look at you have to utilize
all most tools right now the demand for
00:18:46
copper and astronomical not so much from
the US or Europe or from the Far East
00:18:51
the growth of China the growth in India
two and half billion people living in a
00:18:55
part of the world that was third world
right now everything that China in India
00:19:00
produces most of it goes to exports you
got to think though what's gonna happen
00:19:05
when they become the consuming nation
when they start consuming their own part
00:19:10
what happens to the raw goods then will
it be enough copper in the world will it
00:19:16
be enough zinc and lead and tin in the
world I mean this is what makes
00:19:20
commodity trading so interesting this is
where every day two different ball game
00:19:25
never the same
00:19:32
are you Muslim yarmulke London
originally from Pakistani sometimes when
00:19:40
they hear my accident they think I'm new
and take me around the whole block and
00:19:43
run up and meet many thing like either
Pakistani or Indian and then it's like
00:19:49
oh you must know so-and-so in London
because I'm related to you either that
00:19:56
or they will try and get me married to
one of the sons and we like you know
00:20:00
have a son he looks around your age this
is perfect I Love New York I've always
00:20:08
believed that so he's played the golden
sandwich opportunity and it's up to you
00:20:12
to grab it I feel like I was very
sheltered when I moved him for me
00:20:16
personally I've grown definitely and
I've met fantastic people here my mother
00:20:22
just about have got to grips with what I
do when I first started she's like you
00:20:28
know made their money just leave don't
get too greedy being about changes
00:20:34
person
and she right so this is give me my new
00:20:49
neighborhood I just signed the lease the
other day for a small apartment old town
00:20:53
house built in 1899 I'm looking forward
to it because this is definitely a
00:20:58
transition for me not so much late night
party anymore just focus on the business
00:21:03
you know I'm not really fitting into the
corporate structure of investors because
00:21:08
they have their little check boxes and
oh he's under 40 there goes my chance at
00:21:13
getting money every day
hopefully my luck thank refresh
00:21:17
obsessions and failures but the keys
that I keep learning
00:21:20
you know I'm 25 years old if I don't
make a lot of money for the next two or
00:21:25
three years but I learn a lot it's still
a win I can do this for the next 50
00:21:29
years great thank you I'm pretty
optimistic about my future my
00:21:34
organization so lean there's not a sense
of urgency like there is for most hedge
00:21:38
fund managers who have their employees
salaries you know the big office I can
00:21:44
wait out times when there's really not
many opportunities you keep finding
00:21:50
connections keep building the track
record and I'm getting smarter a little
00:21:55
richer a little fatter every single day
so not to be a cliche but the future
00:22:01
really does look great
00:22:08
after a lot of serious consideration I
have decided to leave my company that
00:22:13
I've been left for five years there are
just so many things that I would like to
00:22:18
do so many ideas that I have that I
would like to put into practice that I
00:22:22
have decided to go out on my own pretty
much everything is in place essentially
00:22:29
what I'll be doing is primarily raising
capital for clients and I think it
00:22:34
should all work out very well
00:22:37
Wall Street has been a very enriching
experience for me I feel that I had the
00:22:43
opportunity to grow a lot and I'm very
excited to stay with the future home I
00:22:51
just generally try to be happy
approach everything with a positive
00:22:56
attitude I think that's also one of the
prerequisites for Wall Street's make the
00:23:01
most out of the opportunities that you
have
00:23:15
I remember I did the G glass you only
get one jig for episode attention square
00:23:20
time bollocks
motherfucker now she learnt here the guy
00:23:25
who has the best TN wins in life another
guy is the most toys wins the guy was
00:23:29
the best hanwen hmm oh my ha ha
financial muscles baby ah
00:23:46
you
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