Gary Stevenson aka @GarysEconomics

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rainbowlemon

rainbowlemon

I’ve watched a few of his videos (under five). I thought he was good at talking about inequality.

Didn’t look into his earning claims.
 
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rainbowlemon

rainbowlemon

At his peak apparently $35mn profit achieved for the bank in 2011 seems low to be the best trader globally.
 
rainbowlemon

rainbowlemon

To add: If you've seen the big short. Michael Burry made around $100 million personally and over $700 million for his investors. That was in '08. He's playing with baby numbers. :LOL:
 
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C

codered

Nooo way! I’ve watched a couple of his videos, my husband and dad watch him and think he’s great. Like you, he also set my spidey senses off but my husband wasn’t having any of it. Wonder what’s next to come out, if anything.
 
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heretoreaditall2019

heretoreaditall2019

I honestly think it’s the accent that first made me think hold up what’s going on here? It’s just not remotely realistic for someone of his age from the area he claims to be from? It has a twang of the James O’Brien deeply patronising suffering liberal heart, too.

I don’t know why he’s exaggerated his story. Upward mobility in millennials was such a social phenomenon that enough people would be interested in a first gen professional’s (true!) stories. He doesn’t need to fabricate things to appear more impressive as he had achieved something prior to the media career, but he does have to in order to bait clicks and monetise his channels…. It’s giving grifter imo!
 
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E

edgeofseventeen

I like him. I haven't read The Trading Game, but came across him through social media. I admit I did wince a bit for him when I read the FT article and take his 'World's Best Trader' claims with a heavy dose of salt. However, I do enjoy his content and wouldn't consider him a grifter, per se. I totally get that making money through book sales based off somewhat inflated claims is a bit opportunistic and I'm sure he's being paid well for all the media appearances he's making at the moment. But, if he wanted to be really cynical and grabby I'm sure he could make plenty of money handing out trading tips and going down the 'get rich like me' route instead. He's talked on his channel about why he doesn't give out trading advice and I've always found him refreshingly honest about the fact that he is very much an anomaly and for most people social mobility and meritocracy just don't work. And that trading is very much gambling.


He's clearly very passionate about inequality and I think he explains some complex subjects really well. I've definitely learnt a lot from watching his content and think about money/wealth differently now. I also like that he's talking about the move towards far right politics, particularly in young working class men, without being dismissive and patronising. He has an interesting perspective given his background and work/education experience. I'm glad he's out there talking about these subjects in a relatable way.


I do sometimes feel a bit despondent after listening to him though. Not because of him personally but more because it feels that wealth has it's own inescapable gravity which causes it to concentrate itself and we're all a bit powerless against it.


But yeah, anyway. Tax the rich, innit.
 
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rainbowlemon

rainbowlemon

He grew up in Ilford. Passed the 11+ and went to a grammar school, but getting a scholarship to LSE is still impressive.

I liked that he didn't have have the Etonian/private school veneer that many finance guys do. Even if parts of his story are slightly exaggerated, I still think there’s still value in having someone from his background breaking down financial issues and economics in an accessible way. He can speak to an audience that might otherwise disengage from discussions about finance. .

He claimed to have been the number one foreign exchange trader for a particular year. Even if that title is debatable, it doesn’t take away from the fact that he was still a good enough trader—he wasn’t like Bernie Madoff or Nick Leeson, the trader who brought down the Queen's 230 year old bank ( Barings ).

Whatever his ranking, he can still make people listen to him. He has around 700k subscribers on Youtube. His book is number 3 in corporate finance on Amazon.

1740687448061.png
 
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peachplumpear

peachplumpear

Did he work abroad while he was trading? If not, has he explained why he doesn’t appear on the FCA register for a good chunk of the time he’d have been trading in the UK?
 
rainbowlemon

rainbowlemon

On sale today!

(Not buying it yet personally. I already have two other books in my basket I haven't allowed myself to buy).

1741903569058.png
 
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zcfthc5

zcfthc5

edgeofseventeen said:
I like him. I haven't read The Trading Game, but came across him through social media. I admit I did wince a bit for him when I read the FT article and take his 'World's Best Trader' claims with a heavy dose of salt. However, I do enjoy his content and wouldn't consider him a grifter, per se. I totally get that making money through book sales based off somewhat inflated claims is a bit opportunistic and I'm sure he's being paid well for all the media appearances he's making at the moment. But, if he wanted to be really cynical and grabby I'm sure he could make plenty of money handing out trading tips and going down the 'get rich like me' route instead. He's talked on his channel about why he doesn't give out trading advice and I've always found him refreshingly honest about the fact that he is very much an anomaly and for most people social mobility and meritocracy just don't work. And that trading is very much gambling.


He's clearly very passionate about inequality and I think he explains some complex subjects really well. I've definitely learnt a lot from watching his content and think about money/wealth differently now. I also like that he's talking about the move towards far right politics, particularly in young working class men, without being dismissive and patronising. He has an interesting perspective given his background and work/education experience. I'm glad he's out there talking about these subjects in a relatable way.


I do sometimes feel a bit despondent after listening to him though. Not because of him personally but more because it feels that wealth has it's own inescapable gravity which causes it to concentrate itself and we're all a bit powerless against it.


But yeah, anyway. Tax the rich, innit.
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I feel thisss. I have a lot of respect for him, I just feel drained after listening to him and stressing about the future. I recommend the audiobook in his own voice. I’m quite curious as to why he nicknamed his gf wizard… or why in YouTube vids he wears fingerless gloves / too small beanie hats - is it a ‘millionaire trying to look normal but accidentally cosplaying homeless’?
in one YouTube he referred to a patreon / paid subscription thing. Why? He brags about how much money he made, surely he’s can live off the interest alone, book money and speaking gigs, does he need non-millionaires to really chip in too?
 
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heretoreaditall2019

heretoreaditall2019

zcfthc5 said:
I feel thisss. I have a lot of respect for him, I just feel drained after listening to him and stressing about the future. I recommend the audiobook in his own voice. I’m quite curious as to why he nicknamed his gf wizard… or why in YouTube vids he wears fingerless gloves / too small beanie hats - is it a ‘millionaire trying to look normal but accidentally cosplaying homeless’?
in one YouTube he referred to a patreon / paid subscription thing. Why? He brags about how much money he made, surely he’s can live off the interest alone, book money and speaking gigs, does he need non-millionaires to really chip in too?
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He’s really overstated his accomplishments which is why people think this. It’s very hard to build genuine wealth/get rich just off of a high income, especially a short lived one?

Idk how long he spent working but let’s call it a decade, his income likely wouldn’t have surpassed £250k pa gross in that time just by virtue of how junior he was. Then consider deductions. Like yes he could very well have paid a good chunk off a place to live but he certainly won’t have 7 figures of savings stashed to draw down on now. This is why he’s doing the media grift, he can’t sustain his previous earnings in that environment for whatever reason anymore.
 
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heretoreaditall2019

heretoreaditall2019

ETA - according to the FCA register he was working for just 2 years. That’s incredibly junior, I’d be surprised if TC surpassed £150k in the first two years… wonder what he’s been doing between late 2012 and now?

IMG_2778.jpeg
 
rainbowlemon

rainbowlemon

Someone mentioned that he worked in Japan too. FCA registration would no longer apply as he was no longer operating under UK financial regulation, but under the Japanese system instead. So the short FCA record doesn’t mean he left finance, just that he was no longer working under UK jurisdiction.
 
rainbowlemon

rainbowlemon

heretoreaditall2019 said:
He’s really overstated his accomplishments which is why people think this. It’s very hard to build genuine wealth/get rich just off of a high income, especially a short lived one?

Idk how long he spent working but let’s call it a decade, his income likely wouldn’t have surpassed £250k pa gross in that time just by virtue of how junior he was. Then consider deductions. Like yes he could very well have paid a good chunk off a place to live but he certainly won’t have 7 figures of savings stashed to draw down on now. This is why he’s doing the media grift, he can’t sustain his previous earnings in that environment for whatever reason anymore.
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So he has 2118 members.

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1742129553815.png
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Minimum earnings 2,118 × £4.50 = £9,531/month

After Patreon Pro plan (8%) & payment processing fees (approx. 3.5%) = £ 8434.93 monthly
 
rainbowlemon

rainbowlemon

So he's potentially earning £101,220+ a year before tax from Patreon alone, without Youtube & book sales included.

As I took the lowest tier not everyone will be on that one. Others will be paying more to be a hero or a friend.
 
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