Today, we're replaying my episode with Nik “The Carny” Lentz. It's not every day you talk to a UFC fighter turned trader. And this conversation is both intense and insightful. We start by talking about Nik's journey from a difficult childhood to a UFC career and his philosophy on fighting, parenting, and life. We then cover his move to trading derivatives full-time and his approach to position sizing, risk management, and more. This is a different kind of episode, but one I thoroughly enjoyed listening back to, and I hope you feel the same.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Show Notes
(00:01:39) - (First Question) - Nik’s childhood and how he got into ultimate fighting
(00:08:54) - Nik’s mentality when in the cage fighting
(00:10:37) - Links between traumatic childhood and becoming a UFC fighter
(00:11:48) - How Nik feels about his children potentially fighting in the future
(00:13:29) - Nik’s earliest UFC fights and the importance of storytelling in the sport
(00:21:35) - Insecurity and work ethic, getting the balance right to be able to perform at the top
(00:26:35) - The relationship between drive and motivation and the kind of upbringing you have
(00:28:52) - How Nik got into finance and his first moves in the market
(00:33:00) - Nik’s development of his own investment process and how he manages risk
(00:36:00) - Determining position sizes, when to get in, when to get out. The ratio between Nik’s low-risk trades versus his big swings
(00:38:16) - The similarities between gambling and investing, Nik’s opinion on the apparent lack of differentiation
(00:40:19) - Nik’s advice to young people looking to get started in investing
(00:41:32) - Comparing the ups and downs of UFC fighting versus trading in the markets
(00:43:32) - The process of walking away from fighting and whether Nik thinks he will ever walk away from investing
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Making Markets