We Study Billionaires - The Investor’s Podcast Network TIP395: Option Strategies and Building a Billion Dollar Business w/ Tom Sosnoff
Nov 12, 2021
Tom Sosnoff, co-founder of the successful trading platform Thinkorswim and founder of Tastytrade, shares his billion-dollar entrepreneurial journey. He discusses how to leverage high implied volatility in trading, layering options on top of buy-and-hold strategies for income generation, and the optimal timing for buying and selling options. Tom also reflects on the influx of new traders entering the market and emphasizes the importance of risk-taking and authenticity in entrepreneurship.
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No High Fives
- Tom Sosnoff celebrated his billion-dollar Tastytrade sale by doing nothing.
- He follows a "no high fives" rule and focuses on the next venture.
Risk-Taking
- Tom Sosnoff's key to success is not worrying about losing and taking risks.
- He believes strongly in his ventures and embraces calculated risks.
Authenticity
- Tastytrade's authentic, quirky brand resonated with traders.
- The platform combined financial knowledge with humor and sarcasm.