00:00:00
I have spent my working career on the
trading floor I like the excitement and
00:00:14
the energy there's only one bottom line
on Wall Street and that bottom line is
00:00:22
how much money away one of the most
stressful jobs on earth and you have
00:00:29
stress every single second not everybody
gets right greed is ugly make as much
00:00:35
money as you can so that you can get out
of there before it turns you to the dark stuff
00:00:39
00:00:58
don't take it take it
fifty bucks come on take it out ah two
00:01:04
cents someone came there you go boom and
I'm out I was close I made 20 bucks the
00:01:10
19 minutes since the market is open so
far I have made seven hundred and
00:01:15
fifteen dollars for the day my best day
I made just around $350,000 and I
00:01:22
remember just sitting in my room for
quite a while just digesting it to make
00:01:27
sure that this was real my worst day was
down 180-thousand hello yeah that sounds
00:01:35
good tonight I'm going a big-ass rooftop
party you know I invited about a hundred
00:01:40
people we'll see how many people
actually show up hopefully it turns into
00:01:44
a Girls Gone Wild video goes now it's
fading a little bit I'm kind of long
00:01:50
biased on this stock all day today I'm
going to buy it on weakness because I
00:01:55
think others will buy it on weakness so
since that's it self-fulfilling prophecy
00:02:00
others are buying in our weakness I'm
buying on weakness it'll bounce a lot
00:02:03
I'm expecting big things today
you know maybe not a hundred thousand
00:02:07
dollar days but to get up to ten or
twenty thousand
00:02:21
my name is Ted Whitesburg my job
description is one a floor trader where
00:02:27
I have been on the trading floor of the
New York Stock Exchange for 38 years I
00:02:31
never thought when I was 29 years old
that I'd still be there when I was 66
00:02:38
stock market or the stock exchange is a
giant auction market where buyers and
00:02:44
sellers meet companies sell stocks to
raise capital so they can grow and
00:02:52
expand their businesses the stocks
themselves are literally pieces of paper
00:02:58
that represent ownership in those
companies and the companies sell the
00:03:03
stock to the public to raise the money
to run their businesses and the stocks
00:03:09
will go up and down as a direct
reflection on a company's ability to in
00:03:14
fact put that capital to good use there
are many facets of the stock exchange
00:03:21
that I think are extremely important to
the investment public number one is
00:03:25
visibility there is the tape which we
take for granted which basically records
00:03:29
every transaction that's taking place on
the trading floor and that tape that you
00:03:33
see in California or in New York it's
the same tape that you would see in Hong
00:03:38
Kong or Auckland New Zealand so
transparency I think is key to investor
00:03:44
confidence you might not like the price
but you can see the price
00:03:52
that was for meeting tomorrow of the
bidders tom was a petition at the moment
00:03:59
Katie she was little
huh okay so I grew up in Russia in 93 I
00:04:07
came to the states I got my driver
license started driving the cab and 1995
00:04:13
I decided to go on Wall Street I was a
stockbroker for a few months they didn't
00:04:17
really like it and then I went to a day
trading business which actually I fell a
00:04:20
lot from the first day I ever went to
the office they trade is considered to
00:04:24
be the person probably does more than
100 trades a month we probably do in
00:04:29
five to five hundred to a thousand
trades a day so we consider ourselves
00:04:32
the professional day traders and there's
maybe ten thousand people as we're I
00:04:36
always no one to get in I always know
want to get out I think personal lot of
00:04:41
people cannot succeed in this business
because just they're not disciplined
00:04:45
enough so today I'm gonna trade for our
downtown office will have two of them he
00:04:55
found in downtown in 11 years that I've
been in the day trading business I would
00:05:00
say I do know a lot of information we
take this chart it's a gold chart I
00:05:05
cannot say that I would be too smart and
short it's right there it would be
00:05:09
reason for it but I know one thing for a
fact when the gold is collapsed and it
00:05:14
is a big this is a 45 percent downside
somewhere in this area I would just be
00:05:20
ready to buy somewhere in this rate I
would be ready to buy yep here what's up
00:05:25
when you spend 11 years every single day
260 trading days a year you're going to
00:05:31
start to understand what really is going
on at least you're going to have a feel
00:05:34
for it
good luck people
00:05:42
so I'm kind of in-between appointment
that I'm going to see a financial
00:05:46
astrologer I have no clue what to expect
and I'm a little bit skeptical I really
00:05:52
are you doing okay I'm educated I was
professional astrologer since 1967 and I
00:06:06
started coming into the markets on
October 20th 1987 because we knew about
00:06:11
the stock market crashing year in
advance to the day we're good at
00:06:16
is there a good book to read for Wall
Streeters well obviously I would
00:06:20
naturally recommend my own which is
investing by stars my mother said it was
00:06:24
very good and she understood okay what
you told me when I met you was that
00:06:30
you're an astrologer right financial
astrologer what exactly is that we
00:06:35
basically look at planetary patterns and
we correlate them to stock market
00:06:39
activity how can that be correlated
astrology is a mathematical science is
00:06:46
that really fair to say that it's a
science because there's no way to really
00:06:49
verify first of all there many ways
science is a body of knowledge organized
00:06:54
according to general principles my
background is in mathematics and
00:06:57
psychology and astrology is a
mathematical psychology based on
00:07:02
astronomy so we take we take data like
this for example which gave us
00:07:05
information of the market we'd be down
today which is something you probably
00:07:08
have now to interpret and then we put it
together and then we have a opinion
00:07:12
about what the market is doing in one
week of trading do money managers
00:07:16
actually come to you and ask you for
horoscope and how much is that first of
00:07:20
all we we have we have clients that
everything from very wealthy individuals
00:07:25
to fund managers where we think we
normally can improve their performance
00:07:29
five to 20 percent what we charge
depends on services we have a for
00:07:32
example company coming to me we're gonna
probably make them about 40 million
00:07:35
dollars I'm trying to and you know
they're offering me maybe 100 hundred 50
00:07:39
and I don't think I'm going to accept it
only not the nineteen fifty thousand not
00:07:42
a lot of money but we're going to make
them forty million dollars yes sure so
00:07:46
we're worth a lot run to paid I agree I
didn't say that
00:07:50
I said
00:07:59
dead cat found it sounds gross but what
it refers to is if a stock is sold off
00:08:04
really sharply and then has a little bit
of a bounce back up as in a don't buy
00:08:09
into that dead cat bounce oh you're
going to end up as roadkill
00:08:17
I come to the Stock Exchange trading
floor a little after 9:00 every morning
00:08:21
my son is here he's also a broker on the
floor as a member of the psychics change
00:08:26
I come here to represent the clients of
our firm and in that capacity I am their
00:08:31
agent the orders start coming and there
buy oranges sell orders you know you're
00:08:35
watching the tape you're watching the
news ticker if you have sell orders in
00:08:39
the markets going up that's great if you
have buy orders in the markets going up
00:08:42
that's not so good because that means
everything becomes a little harder to
00:08:46
buy but the orders come we go to the
trading crowd we will execute that order
00:08:51
it's all done electronically it takes
milliseconds in fact to complete it from
00:08:56
the time we get it to assign the
customer gets the report and then of
00:09:00
course you just keep moving and
hopefully you're going to be busy all
00:09:03
day and you really don't have time to
think the stock is just heartbreaking
00:09:15
oh this is tough I am down $28 on the
day this stock that I thought was going
00:09:23
to be a strong stock as proven itself to
be the exact opposite question is how
00:09:30
much pain can you handle and for how
long I can't handle that much pain I
00:09:36
don't like losing this is a 15% drop in
the Nasdaq one of the largest drops in
00:09:41
two past ten years and it's happened
quick so there's definitely a lot of
00:09:45
fear in the market their stock is
tanking right now and it's just going to
00:09:50
get weaker because there it goes as I'm
talking thanks guys
00:09:55
hey now I'm down eight hundred on the
day since 1999 I haven't have a lose a
00:10:05
month every month I would take a dollar
$2.50 obtaining but it's always going to
00:10:11
be agreed it's always going to be above
zero that's the most important thing for
00:10:15
me today is not going to be day of
losing I have a very strict rules about
00:10:19
us if I'm down more than seeking for 20%
from the top money that I make I would
00:10:24
probably stop trading for 30 minutes ago
outside get some Dunkin Donuts if you
00:10:29
learn how not to lose you will be ending
up making money you know at least if you
00:10:34
learn how to invest properly you can
always make money on your money
00:10:38
astrology provides so much inside I
would assume that you you know should
00:10:45
have been able to accumulate great well
you only get what's promised in your
00:10:49
horoscope so maybe not in my horoscope
to be wealthy but you invest buy all
00:10:53
right you don't foresee everything
astrology is not the be-all and end-all
00:10:57
astrology is a single best tool in the
market but it's not doesn't do
00:11:00
everything and it's not perfect science
if astrology was a perfect science then
00:11:04
every astrology you know would be very
rich have a private rolls-royce and a
00:11:09
private Learjet now that's not the case
so obviously there's a little bit more
00:11:12
involved for example if you were born
ten minutes earlier you'd be a different
00:11:15
person do you feel that I'm a Taurus
heal your torch
00:11:19
I have to hold your hands and do some
things we can't do on camera because
00:11:23
this is not x-rated to know if you
really
00:11:26
I usually tell people I don't get height
I don't guess weight I don't give signs
00:11:34
but I guess sex which I do very well
except in the West Village some kind of
00:11:37
trouble there you understand the joke
you should be laughing okay my and you
00:11:45
right off the nail chart excuse me a
second I'll be fixing to give you your
00:11:50
forecast I have just completely flipped
my strategy because this stock has been
00:11:59
so weak wasn't just me that was thinking
this is going to be a strong stock so
00:12:03
now everyone is kind of shell-shocked
and once it takes out the day low a lot
00:12:06
of people that are long this stock that
are betting that it's going higher we'll
00:12:10
look at this point and have their stop
losses there and if we can take out
00:12:14
those stop losses it's almost like
surfing because you're really just
00:12:18
riding the wave since you're betting
that it's going down you know all these
00:12:22
orders are going to make it go down
there's no reason why the stock can't be
00:12:25
down three four or five dollars or
shares today not taking out the level Oh
00:12:29
took it out 1,700 shares short I'm going
to Bank right now this is when you start
00:12:37
to get caught
come on green for the day baby yeah big
00:12:42
money fifty five bucks I haven't been
much more comfortable with astrology and
00:12:51
personal RAM rather than you know
predicting the markets with it okay well
00:12:56
I feel like there's something else you
can ask anything you like I'll give you
00:13:00
one question you get free wishes I won't
give you free wish oh yeah unless you
00:13:03
have one question anything you want to
know about anything so what you do is
00:13:06
close this hold on to the side with the
astrological dice and I want you to
00:13:10
think about the question okay can be any
place you want when you're thinking
00:13:15
about the question roll with that you
know I'm going to give you some general
00:13:19
things okay the answer here is Pisces
which means still question Venus which
00:13:23
could be about love or relationships and
ninth at a distance in its relationship
00:13:27
related you want to be someone more
specific rubric so I can give you more
00:13:30
specific elements
there's um well there's more bush I'm
00:13:34
just curious that um it's going to work
out be idealistic about it and don't aim
00:13:39
low no-name love don't aim low just let
your imagination be that an embrace yes
00:13:44
I'm single and I'm going out with you no
prospects my I needed a stroke at agra
00:13:51
fee report for the charming lady oh how
lovely just you know your statutory
00:13:56
rising neglected center and we all said
more than protocol but that's all
00:14:00
superficial I was wondering is there
going to be a real financial what is to
00:14:04
you remember this is like the Stars
impeller do not compel they just give
00:14:08
you opportunities it doesn't mean you
don't take advantage of it oh I'm
00:14:11
certainly the type who takes advantage
of opportunity it's better to fancy more
00:14:16
in the relationships in 2005 but you can
be changing the rails were the six he
00:14:22
makes he did 2005 here I'm sorry why
well actually we'll have to Mike oh my
00:14:31
why did we do this for 2005 give me 2007
please
00:14:37
Wow fencing you're just telling you to
go change jobs another way is to be
00:14:42
interpreted so find a boss you'd like to
marry and go work from in America but
00:14:48
that was like 10 pages and you gave me
in one sentence that's right
00:14:51
I'll pay what you read over ten pages
yourself I give them take it take it
00:14:55
home can i well i be able to understand
this yeah so much well I think Henry is
00:15:00
a very interesting eloquent guy and a
lot of the things that he says make
00:15:06
sense but I remain skeptical I think
it's a charming concept and it's
00:15:10
definitely entertaining but I wouldn't
invest by the stars
00:15:20
bitches stock now at 2:52 p.m. with an
hour to go I'm down 3600 on the day my
00:15:29
dream stocks for the day is just proven
completely worthless right here you can
00:15:35
see in the afternoon and crack the day's
low at 90 120 went straight to 90 20
00:15:41
this is a nice little short here which I
got some up but I still thought the
00:15:45
stock was going lower and right here
this little bump up is where I just got
00:15:50
I went short right around here a little
too soon because I covered right here
00:15:58
and then through the $4,000 law this is
why trading is so tough I was completely
00:16:03
right on the price but I couldn't handle
the pain I had a five hundred thousand
00:16:09
dollar position which was much bigger
position and I wanted to take and I just
00:16:15
averaged up wrong and now the talk is
acting perfectly would have been about a
00:16:22
ten thousand dollar profit right now had
I had the balls to hold or did I did
00:16:31
today
00:16:35
there is nothing in Wall Street the
rewards your significantly as well one
00:16:43
of my great attractions for this visit
it rewards sagacious laziness going
00:16:54
through my dirty laundry do a body
search where I'm a big meeting with this
00:16:58
billion-dollar babe
and my mom didn't come in and do laundry
00:17:02
this weekend so I got no clean laundry
here we go
00:17:06
beautiful I'm sure it isn't your
wrinkled she could see what kind of
00:17:11
operation I'm running suits just a mess
but to the matter you know you can work
00:17:17
in your underwear and make more money
than somebody with a $5,000 suit it's
00:17:23
all about presentation and that's not my
forte but uh trading is and that's what
00:17:29
really matters
I'm on my way to meet with Tim Sykes
00:17:34
he's a 25 year old hedge fund manager up
and coming he sounds very bright I
00:17:40
haven't met with him before but from
what I hear he's been quite successful
00:17:46
Danny was pretty big-time she's in
charge of quite a bit of money when you
00:17:50
get my story out there and I'm in uh
well I'm trying to get some money out of
00:17:54
her see if she has any contact if she
knows anybody let's see what she can do
00:17:58
you know I hear she's a pretty
attractive woman so if I don't get the
00:18:02
money then maybe I can get the girl
either way we're going to have a good
00:18:05
lunch and talk about myself which I'm
pretty good at doing my favorite subject
00:18:11
cheers Cheers
meeting you nice meeting you thank you
00:18:16
for meeting so um where were you before
where did you start out from 1999 to
00:18:21
2002 I traded my way from $12,000 to a
fully audited protects I'm at one point
00:18:26
six five million so with that are you
serious
00:18:29
100% a and what's he invest in managing
zone short by a small cat micro-cap I
00:18:34
mean I'm never going to be more than 100
million dollars on top your maximum
00:18:39
capacity yeah and why is that because
I'm shorting the smallest and most
00:18:46
volatile stocks so a they're hard to
borrow be they're volatile as hell and
00:18:51
see I have no corporate experience and
you don't have an office you work from
00:18:56
home work from home and what do you do
like on days when there's no trading um
00:19:00
I usually read I'm a big I can't read
fiction
00:19:03
I love nan Batian really yeah to my
library 146 and second this is my
00:19:10
neighborhood oh we should have lunch
more often we should I remember when I
00:19:17
came in the business there was a person
he would always say they traders would
00:19:21
never make money the Indian option or
making zero or making very little - but
00:19:26
there's a beautiful thing about this
business you don't depend on anybody you
00:19:29
are who you are and if you really want
to succeed you can really make it you
00:19:33
make money you lose money doesn't matter
when the life is good that's the most
00:19:37
important thing
00:19:40
well is a great pleasure to meet you
no thank you for meeting with yeah it
00:19:44
was a great pleasure I'm on thank you
for lunch you're welcome everything
00:19:48
sounds very intriguing I'll run it by
bridge tack and then I'll be in touch
00:19:52
with you I'd say within the next week
okay sounds good why is it hard I think
00:19:58
you do I think I don't let me give it to
you please yeah I think that was a good
00:20:08
meeting I think it's I got my point
across of what I'm trying to do and I
00:20:13
think I got a date I don't know I don't
know what to expect
00:20:17
give me another drink I only had one
drink a lot of people don't want to work
00:20:26
for Wall Street because it's kind of
geographically undesirable in terms of
00:20:29
New York City but this is a pretty cool
part of the Manhattan grew from the
00:20:35
battery up and yes that's why the
streets are also now because they
00:20:38
actually used to be countenanced and
Wall Street was in fact there was a wall
00:20:43
there that kept the Indians I guess from
attacking the Pilgrims and the Dutch and
00:20:48
anybody else that was kind of
sequestered in lower Manhattan clearly
00:20:54
responds change as an institution is
absolutely the cornerstone of capitalism
00:21:01
in this country and perhaps the world I
mean it is a footprint that every
00:21:04
democratic country and society in the
world has tried to live
00:21:16
party on the rooftop yeah 46 back Arusha
this bar girls in the bathroom hey rock
00:21:32
it without rain Omniture you know I'm
really the only one making money of any
00:21:44
of my friends so I do it my duty to be
the Godfather throwing parties for
00:21:48
everybody or else no one would go out
not everybody on Wall Street like makes
00:21:54
a lot of money it's great I'm already
making more money than every single
00:21:57
person here right now almost and I with
the exception of buying 10 right I mean
00:22:03
for Christ's sake what's funny 99% of
the best stories I have are with Tim
00:22:11
typical freshman year story you know
everybody's cramped up in a tight
00:22:15
building and I just happen to be in a
room with it's crazy Jewish kid Tim who
00:22:19
made five hundred thousand dollars in
one week the crowning moment after we
00:22:23
made all this money like let's take the
whole dorm out to dinner I'm like are
00:22:28
you serious again go round up everybody
we're taking them all to dinner so here
00:22:32
we are this hodgepodge of messes kids
growing into a super nice restaurant
00:22:36
Boston it seems like I got everything
don't worry about it tim has a lot of
00:22:42
potential I hate to use the word Boy
Wonder because he's not really a boy but
00:22:46
I could see his brilliance right away we
could have all we decided to one spaces
00:22:52
Wow I know he's going places I just
thought he was right again
00:22:57
thanks for coming to my party well when
I was like 8 years old I wanted to come
00:23:02
to the state I can't really say that I
was dreaming off Wall Street we're
00:23:06
noticing polka TV the next big thing
poka poka poka I need my accordion
00:23:20
you know polka polka previews that
00:23:29
you
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