Epsilon Theory Podcast The Intentional Investor #45: Tony Greer
13 snips
Jan 7, 2026 
Tony Greer, a macro trader and founder of TG Macro, dives into his journey from a tight-knit Italian family on Long Island to trading at major banks. He shares a pivotal lesson learned from a disastrous gold trade that reshaped his understanding of risk management. Greer discusses the psychological toll of significant trading losses at a young age and how family bonds helped him through tough times. His candid reflections on resilience, sports, and lifelong friendships provide a unique lens on decision-making in both life and the markets.
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Zurich Metals Trade That Changed Him
- Tony Greer recounts a life-changing Zurich metals trade where a quoted client bought large gold and silver amounts and the market moved against him.
- He reported up, enlisted help, and slowly traded out the loss while retaining client flow that helped recover value.
Slow Down And Shrink Risk First
- When a quoted trade goes wrong, slow down, reduce position size, and find two-way market flow before executing big offsets.
- Tony explains that getting a million ounces back cuts heart rate and creates breathing room to strategize.
Good Friday Silver Nightmare
- At Goldman Tony describes being paid for 5 million ounces of silver over an Easter weekend and the panic of babysitting a massive short position.
- He and his partner covered on the Tokyo open and later managed to profit over ensuing weeks despite the weekend stress.